Your minimum med school cost difference to base your decision on

[rockydoc]

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So, basically I am looking at two great schools which have minor pros/cons which kinda cancel each other out. I wouldnt mind attending either one. The difference in cost between them will only be around 5k per year. The more expensive school is closer to home and my best friend will probably be going to nursing school there, so we could room together.

So my question is: Is 5k per yer difference in cost worth basing your decision on?? What would be your minimum cost difference?

 

[sevenmints]

dude. that's like nothing. my difference would be at least 50k...

 

[WaterBird]

Agreed. I wouldn't, under most circumstances, base my decision on 5k a year. That's $105/month. If you are living with your friend and maybe cooking more (or happily sharing a little less space since it's someone you already know) that could be half (or the entire) difference right there.

If the schools were really totally equal in your mind, I might consider it as a factor but they aren't.

 

[pianola]

Depends on how much you like each school. Note that $5K/year will end up being $20K plus interest.

 

[looma]

Go with the closer school. You'll be with your friend, and your happiness is worth more that 5k a year.

 

[shindotp]

My happiness is worth a lot to me... Money can't buy happiness, but a going to a school you love can bring you happiness.

Of course, being in debt will reduce my happiness lol, so there's has to be a balance.

I'd pay an extra $15k a year to go to UCLA over UMich (love LA, hate cold weather), but any more than that and I don't think it'd be worth it.

 

[Handy388]

after reading about this year's match and the expansion in allo enrollment, I am personally going to go for a institution with better reputation to future proof flexibility in career choice.

Fortunately, I don't have to choose because I am already accepted at my top choice which happens to be an amazing fit. I did place location above reputation though (withdrew from a top 10 school and going to a top 20).

If I had to choose, I would go for the following formula.

10k difference in 4 years make up for 10 places in NIH funding differences.

that is, I would go to a school 10 places higher in NIH funding if the difference in tuition over 4 years is not greater than 10k, just to futureproof, and this is my personal opinionate.

disclaimer: as of the match of 2009, reputation of medical school does not matter much in the match.

 

[pianola]

after reading about this year's match and the expansion in allo enrollment, I am personally going to go for a institution with better reputation to future proof flexibility in career choice.

Fortunately, I don't have to choose because I am already accepted at my top choice which happens to be an amazing fit. I did place location above reputation though (withdrew from a top 10 school and going to a top 20).

If I had to choose, I would go for the following formula.

10k difference in 4 years make up for 10 places in NIH funding differences.

that is, I would go to a school 10 places higher in NIH funding if the difference in tuition over 4 years is not greater than 10k, just to futureproof, and this is my personal opinionate.

disclaimer: as of the match of 2009, reputation of medical school does not matter much in the match.

So you don't mean $10K per year but $10K total?

(Just clarifying. I realize it's just your opinion but I'm interested.)

 

[Handy388]

yes, I am willing to pay 2.5k more per year for 10 place increase in NIH funding, or 10k more per year for a 40 place increase in NIH funding.

in my personal experience, this need is actually moot. since higher ranked private schools tend to actually cost me less over lower ranked privates. (I am a cali applicant who's not going to a state school, so there is no cheap state school for me)

personally, I am faced with the choice of a top 20 school with the sticker price around 35k, an unranked (according to US News) school with 70-80th in NIH funding that's around 48k and an unranked school with 95-105th place in NIH funding that's around 40k.

my choice is obvious.

 

[dynezxice]

after reading about this year's match and the expansion in allo enrollment, I am personally going to go for a institution with better reputation to future proof flexibility in career choice.

Fortunately, I don't have to choose because I am already accepted at my top choice which happens to be an amazing fit. I did place location above reputation though (withdrew from a top 10 school and going to a top 20).

If I had to choose, I would go for the following formula.

10k difference in 4 years make up for 10 places in NIH funding differences.

that is, I would go to a school 10 places higher in NIH funding if the difference in tuition over 4 years is not greater than 10k, just to futureproof, and this is my personal opinionate.

disclaimer: as of the match of 2009, reputation of medical school does not matter much in the match.

And how exactly does that futureproof it? You just said that reputation of med school does not matter much, so why choose an institution with better reputation if you're going to end up with a good match anyways?

 

[Handy388]

And how exactly does that futureproof it? You just said that reputation of med school does not matter much, so why choose an institution with better reputation if you're going to end up with a good match anyways?

I said as of the 2009 match, reputation does not matter much. I can't say the same about the 2013 match.

or how about this, what if, 30 years after I graduated, I would like to lateral to a new practice group or something, and the boss of the group happen to be a physician graduated 20 years ago (or 10 years from now), when medical schools are ranked in tiers. The whole "I went to podunk U because its 1k cheaper per year" may not really fly because the physician may have never experienced a world where the rank of school doesn't matter.

Far fetched that might be, the current state of the law profession make me realize that pedigree may well be a good thing. To me (and to me only), I have the opinion that pedigree worth some tuition.

Disclaimer: you are probably gonna do OK with any school if you are entering this year, since the allo expansion is just begining. my plan to go for pedigree is only based on my fear of a scenario where LCME seats increased a lot but slash in health care spending decreases the amount of seats in residency. that scenario can bring pedigree into the mix, really fast.

 

[Transmogrifier]

I'll counter the "go to the best reputation possible" argument with the fact that it's more important now to save money as we're far more likely to face higher tuition, more debt, and less compensation in the future than some strange hypothetical of which school you attended mattering for a job (just as likely the attending went to the same podunk U and would love to have a fellow alum!).

Maybe it will make a difference, but cost is nothing to sneeze at. But on the order of only $20K like the OP is considering may not be that much to worry about. $100K? Definitely.

 

[scrambizle]

This has been said time and time again, but if someone harvard and get a 210 on step 1 he or she will be "out matched" by the kid who goes to his/her state school and scores a 250. What about if they both have the 250? Every single piece of literature I've seen shows that medical school attended matters less than if you honored your humanities in medicine small group class. Which is to say it matters bubkis. Both applicants will match into Radiology, and one of them will have 100 grand less in debt and can use that money to put a down payment on a house.

to the OP - I think 5K is small enough to make the decision based on where you'd be happiest.

 

[DrWookie]

Agreed. I wouldn't, under most circumstances, base my decision on 5k a year. That's $105/month. If you are living with your friend and maybe cooking more (or happily sharing a little less space since it's someone you already know) that could be half (or the entire) difference right there.

If the schools were really totally equal in your mind, I might consider it as a factor but they aren't.

Okay I'm not a math wize or anything but...how is 5000 dollars a year 105 dollars a month?

105 times 12 months = 1260?

How did you even get $105?

It's more like 415 dollars a month.

EDIT: Am I missing something really obvious? (I'm kind of tired)

 

[DrWookie]

This has been said time and time again, but if someone harvard and get a 210 on step 1 he or she will be "out matched" by the kid who goes to his/her state school and scores a 250. What about if they both have the 250? Every single piece of literature I've seen shows that medical school attended matters less than if you honored your humanities in medicine small group class. Which is to say it matters bubkis. Both applicants will match into Radiology, and one of them will have 100 grand less in debt and can use that money to put a down payment on a house.

to the OP - I think 5K is small enough to make the decision based on where you'd be happiest.

I think the common example is more like:

Two people get a 210 on the step 1. One is from harvard and one is from their state school (which is not top 20...not like UW or UCLA or something). In that situation how much would it matter.

I still don't think a lot...unless EVERYTHING else was equal, which is unlikely. Then again, i have no experience to base this on. I'm just thinking through it like I think undergrad matters for med school.

 

[xjustbreathex]

So based on the consensus, if you are accepted to University of Central Florida, as of now completely new and unranked, you automatically attend? No hesitations?

(UCF is offering 160k total; tuition plus 20k/year for living)

 

[ChubbyChaser]

So based on the consensus, if you are accepted to University of Central Florida, as of now completely new and unranked, you automatically attend? No hesitations?

(UCF is offering 160k total; tuition plus 20k/year for living)

Curious about this as well..What about verse a relatively cheap top State school?

 

[drizzt3117]

So based on the consensus, if you are accepted to University of Central Florida, as of now completely new and unranked, you automatically attend? No hesitations?

(UCF is offering 160k total; tuition plus 20k/year for living)

I wouldn't, but it seems like a lot of people on SDN would feel that way.

 

[scrambizle]

Welll there's always an exception... I guess I don't know enough about UCF to say definitivley yes or no. The best thing would be to talk to some residency directors and see what they thought of the new school.

But of all the full accredited, established shools out there, cost>>>>US News rankings

 

[WaterBird]

Okay I'm not a math wize or anything but...how is 5000 dollars a year 105 dollars a month?

105 times 12 months = 1260?

How did you even get $105?

It's more like 415 dollars a month.

EDIT: Am I missing something really obvious? (I'm kind of tired)

Sorry dude, I was thinking total, not per year. You are correct.

But, I still think this difference would not be my ONLY factor in choosing, the way a larger difference might be (and, is, for me). It might come into play, but not in the dominating way that money can.

 

[xjustbreathex]

I wouldn't, but it seems like a lot of people on SDN would feel that way.

Why not? I am asking because I was accepted to UCF as well as a top 20 school. I just cant see walking away from that kind of money but I am still hesitant.

 

[drizzt3117]

Why not? I am asking because I was accepted to UCF as well as a top 20 school. I just cant see walking away from that kind of money but I am still hesitant.

I didn't consider the cost of attendance really, I was just looking for the best fit for me. I am not taking out loans for med school anyways (had previous career prior to applying) so my case may not particularly apply but even if I were straight out of undergrad I would still do that. Life is too short to spend money being somewhere you don't like. It might happen that the best fit school is also the most affordable which is actually what happened to me in my particular case, though.

 

[RSAgator]

I'm of the "go to the school thats cheaper" school of thought but I would say that at 5k it makes just about no difference which school you choose. 10k is about where the decision would get tricky for me and I lean towards the cheaper school, and 20k the cheaper school becomes a no brainer.

 

[shnuffles]

So, basically I am looking at two great schools which have minor pros/cons which kinda cancel each other out. I wouldnt mind attending either one. The difference in cost between them will only be around 5k per year. The more expensive school is closer to home and my best friend will probably be going to nursing school there, so we could room together.

So my question is: Is 5k per yer difference in cost worth basing your decision on?? What would be your minimum cost difference?

I think this is a really good question and I agree w/most people on here that I would go with the slightly more expensive school.

I'd love to extend this discussion to other people's situations, experiences, general situations, although I realize that its difficult to do this without knowing everyone's exact circumstances. We all know that usually posting something about going to x school that's ranked higher and more expensive over a cheaper school will usually get the "go where the money is" answer on SDN, but what about these small differences? I have a feeling that that is what a lot of us are going to end up looking at (is 10 or 15K more worth spending on a school that is a clearly better fit?).