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Year 1 Loans poll for accepted students Class of 24

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openstage

Full Member
2+ Year Member
Feb 25, 2018
422
543
116
  1. Medical Student
First off congrats on getting in! Huge monumental achievement, blah, blah, blah. Now reality sets in - $THE BILL$
This is another very basic poll. How much in loans do you plan to take out? 4 simple questions:

  • Which institution?
  • How much do you plan to borrow for year 1?
  • Do you plan to use private loans? (In addition to or instead of Fed & Grad Plus)
  • Do you have assistance from your parents?


This is an anonymous survey. No names, emails or anything. It's purpose is only for people to compare their loan amounts to a small sampling of responses. Perhaps you'll feel better knowing you're not alone! Once we get some responses I'll follow up with the link to the spreadsheet of results
 
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readmypostsMD

Membership Revoked
Removed
5+ Year Member
Jan 13, 2015
457
557
166
Alpha Centauri
  1. Medical Student
First off congrats on getting in! Huge monumental achievement, blah, blah, blah. Now reality sets in - $THE BILL$
This is another very basic poll. How much in loans do you plan to take out? 4 simple questions:

  • Which institution?
  • How much do you plan to borrow for year 1?
  • Do you plan to use private loans? (In addition to or instead of Fed & Grad Plus)
  • Do you have assistance from your parents?


This is an anonymous survey. No names, emails or anything. It's purpose is only for people to compare their loan amounts to a small sampling of responses. Perhaps you'll feel better knowing you're not alone! Once we get some responses I'll follow up with the link to the spreadsheet of results

Loans for Year 1 of Medical School

1) Mid tier MD
2) $78,000
3) no
4) no (rich parents would rather spend $ on their new house)
 
About the Ads

Listle

Full Member
5+ Year Member
Jul 21, 2015
193
249
166
  1. Medical Student
With the fixed interest rates this year being historically low I took out 20k more than I needed (Gap year savings could’ve taken care of it this year, but good to have liquidity) that I’ll invest 16k in an index fund which returns between 5-7% annually on average. That should cover the origination fee and the additional interest payments of the 16k, then the other extra 4K used to consistently pay the full accumulated interest of the entire COA I took out each month.

That way if the rates jump massively next year I’ll have them at a cheaper rate since I don’t think it’s possible they’ll go lower.

My 2cents from the peanut gallery of “I’ve never actually invested before in my life but seems like good idea”

Will update in 1 year if this strat ruins me.
 
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Reactions: 1 users

readmypostsMD

Membership Revoked
Removed
5+ Year Member
Jan 13, 2015
457
557
166
Alpha Centauri
  1. Medical Student
With the fixed interest rates this year being historically low I took out 20k more than I needed (Gap year savings could’ve taken care of it this year, but good to have liquidity) that I’ll invest 16k in an index fund which returns between 5-7% annually on average. That should cover the origination fee and the additional interest payments of the 16k, then the other extra 4K used to consistently pay the full accumulated interest of the entire COA I took out each month.

That way if the rates jump massively next year I’ll have them at a cheaper rate since I don’t think it’s possible they’ll go lower.

My 2cents from the peanut gallery of “I’ve never actually invested before in my life but seems like good idea”

Will update in 1 year if this strat ruins me.

wot o_O are you like a financial analyst too
 

openstage

Full Member
2+ Year Member
Feb 25, 2018
422
543
116
  1. Medical Student
First off congrats on getting in! Huge monumental achievement, blah, blah, blah. Now reality sets in - $THE BILL$
This is another very basic poll. How much in loans do you plan to take out? 4 simple questions:

  • Which institution?
  • How much do you plan to borrow for year 1?
  • Do you plan to use private loans? (In addition to or instead of Fed & Grad Plus)
  • Do you have assistance from your parents?


This is an anonymous survey. No names, emails or anything. It's purpose is only for people to compare their loan amounts to a small sampling of responses. Perhaps you'll feel better knowing you're not alone! Once we get some responses I'll follow up with the link to the spreadsheet of results

Loans for Year 1 of Medical School

31 responses so far
5 people will need no loans
100% - not taking personal loans - just Fed and Grad Plus
43,400 is the average amount of loans
4 people are receiving significant parent contributions.

I will post the link to the spreadsheet later.
 
About the Ads
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