YAY!! BU's Financial Aid package came...

[Spitting Camel]

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Scholarship: 3,750
Low-Interest Loan: 12,750
Federal/Private loan: 38,500

Total Budget for year:

1 = 58,693
2 = 61,098
3 = 68,681
4 = 67,928



Shouldn't this be illegal? I thought rape was against the law...

 

[kito]

Not if the victim is your wallet.

 

[bokermmk]

Holy Balls!!!!!

 

[fullefect1]

so does that mean you need to go out and get some private loans? that sucks.

 

[DW]

68,681

Holy S**t!!!

 

[Spitting Camel]

Holy Balls!!!!!

I'm willing to sell them for 4 years worth of tuition!

 

[Alexander99]

Scholarship: 3,750
Low-Interest Loan: 12,750
Federal/Private loan: 38,500

Total Budget for year:

1 = 58,693
2 = 61,098
3 = 68,681
4 = 67,928



Shouldn't this be illegal? I thought rape was against the law...

Wow. That's over a quarter of a million dollars! I hope you can get all the money you need cause that's a lot of cash money.

 

[Spitting Camel]

so does that mean you need to go out and get some private loans? that sucks.

I have no freaking clue. This is my first time through the FinAid trail, so I'm just bewildered right now. Hopefully I can call them and have a chat about what I'm supposed to do, about how to get Federal loans, about how not to live in a cardboard box to save money. I guess roomates are inevitable now?

 

[Spitting Camel]

I feel like I've been misled and lied to. They said their Average Student Debt was around 138,000. I added up 256,400 here, which is just ridiculus. If I get another offer, I am out so fast it will make their heads spin.

 

[spumoni620]

omg. that really bites. and they make so much money just off their secondaries too - i heard it was $100 per secondary this year

very unfair. if they're not willing to help, i hope you get to stick it to them if you get another offer

 

[Spitting Camel]

omg. that really bites. and they make so much money just off their secondaries too - i heard it was $100 per secondary this year

very unfair. if they're not willing to help, i hope you get to stick it to them if you get another offer

I'm drafting a letter now... Something along the lines of: I feel it is morally reprehensible to require an expediture totaling greater than a quarter of a million dollars to enter the ranks of one of the most altruistic proffessions known to man.

How does that sound?

 

[Spitting Camel]

omg. that really bites. and they make so much money just off their secondaries too - i heard it was $100 per secondary this year

AND, a $500 non-refundable deposit instead of the customary $100. I should have known something was wrong.

 

[jtorres]

man camel thats a little bit of change. i really want to congratulate you on getting in somewhere but thats just to much money. i would never discourage you because of that was the only option i had i cant guarantee you that i would pass it up myself. in the end if all goes well you should be able to repay that 5 times over but thats still a lot of money. you should really try your hardest to get in somewhere else. try out of state or your state school or another private school. good luck to you. but once again, something is better than nothing.

 

[exmike]

HOLY CRAP! 68K budget for MSIII?!?! That has to be a record.

 

[hakksar]

I feel like I've been misled and lied to. They said their Average Student Debt was around 138,000. I added up 256,400 here, which is just ridiculus. If I get another offer, I am out so fast it will make their heads spin.

Yeah, average student debt is always misleading. You have to remember that there are a fair number of students that come out with no debt because they have NHSC scholarships, they are in the military HPSP scholarship program, they have some other scholarship from their home state or region if they agree to come back and serve after residency, they are independantly wealthy, or they have huge merit scholarships. Remember that several 0 debt students really alters the average indebtedness of students.

 

[supereagles]

Wow and I was under the impression that BU's financial aid reputation was all a myth. Anyway, this should not discourage you from pursuing your dream...it is only money. But men, I can imagine how much this hurts...

 

[dsblaha]

You should be pretty excited you got any scholarship money at all.

3750X4 years = 15000 you won't be repaying!

 

[Adapt]

Scholarship: 3,750
Low-Interest Loan: 12,750
Federal/Private loan: 38,500

Total Budget for year:

1 = 58,693
2 = 61,098
3 = 68,681
4 = 67,928



Shouldn't this be illegal? I thought rape was against the law...

That's interesting. The cash that you are receiving adds up to 55K but your budget for the first year is 58.7K. You're missing 3.7K.

After using an accrueing calculator, if you borrow 51K each year in loans as you are doing this year, assuming you get the full subsidized loans and that you do an economic hardship deferment during residency, you will owe 256K after your 3rd year in residency.

However this number may be substantially more because that only assumes you are borrowing 51K in loans each year. You may end up borrowing even more your 2nd, 3rd, and 4th year. I'm telling you this not to scare you but to make you aware.

That's seriously crazy though. It definitely looks like you have to specialize. UCI is looking so much better now with that cheap tuition.

 

[berriesarie]

dude...i feel your pain, i got the same aid package and i recieved basically a full ride through college b/c of my family's income. I don't know how they can think I can raise over 50K per year when my mom's and my salary combined don't even come close to that amount by itself...their finaid is messed up, so much for helping students in need.

 

[freesolo]

are there no pell grants for med school?

 

[Spitting Camel]

dude...i feel your pain, i got the same aid package and i recieved basically a full ride through college b/c of my family's income. I don't know how they can think I can raise over 50K per year when my mom's and my salary combined don't even come close to that amount by itself...their finaid is messed up, so much for helping students in need.

Are you going to BU? If so, we should start corresponding We can drown ourselves in our own sorrows, because misery does love company!

 

[skypilot]

Scholarship: 3,750
Low-Interest Loan: 12,750
Federal/Private loan: 38,500

Total Budget for year:

1 = 58,693
2 = 61,098
3 = 68,681
4 = 67,928

Shouldn't this be illegal? I thought rape was against the law...

Tuition is $38k right. So the budget to live in Boston for 9 months the first year is $20k. I think that would be living pretty good for a student! Or am I missing something here?

 

[bokermmk]

Yes, Fees and health care!

 

[camstah]

You should be pretty excited you got any scholarship money at all.

3750X4 years = 15000 you won't be repaying!

yeah, you should be glad you got some scholarship money....i got 100% loans, no grants, no scholarship.......nothing....

 

[Spitting Camel]

Tuition is $38k right. So the budget to live in Boston for 9 months the first year is $20k. I think that would be living pretty good for a student! Or am I missing something here?

Fees and healthcare, like boker mentioned, along with books and supplies.

Personal Expenses, room and board, and transportaion total 15,500 for year 1, 15,800 for year 2, 22,500 for year 3 and 19,500 for year 4. Any chance I can live in the Library like some people do?


Oh, and I AM grateful for the scholarship money. Are you guys telling me that it makes the rest ok?

 

[meanderson]

Fees and healthcare, like boker mentioned, along with books and supplies.

Personal Expenses, room and board, and transportaion total 15,500 for year 1, 15,800 for year 2, 22,500 for year 3 and 19,500 for year 4. Any chance I can live in the Library like some people do.


Oh, and I AM grateful for the scholarship money. Are you guys telling em that it makes the rest ok?

In a way, yes. I don't think anyone is shocked when someone gets little money as a medical school scholarship. Especially considering all of the people who didn't even recieve 3000+ a year in free money.

If BU had an average debt of over 135k and that was for the class that entered medical school 5 years ago(think tuition/fees increases), that should be a tip-off that unless you come from money or are taking advantage of hstp or some other service scholarship that your debt load will likely be over 200k.