Student Loans for Medical School 2026 question

[Anonymous]

Anonymous wrote:NYU, JHU, Walton - free tuition

Parents can’t earn above a certain amount, for Hopkins its $300,000.

[Anonymous]

They still check the parent income if worked for a year after completing undergrad and filed tax independently.

[Anonymous]

Anonymous wrote:They still check the parent income if worked for a year after completing undergrad and filed tax independently.

I don’t what the age cut off is to be considered for financial aid without considering parental income.

[Anonymous]

What kind of interest rates are you seeing on private loans for med school?

[Anonymous]

Anonymous wrote:You can take out private loans.

Or you can be poor enough and smart enough to attend one of those schools that offer free med school tuition.

DH graduated from med school 20 years ago and it wasn’t uncommon for people to graduate with 300k of debt. Now that number can easily be north of 500k with undergrad.

Medical residents made 28k 25 years ago, and starting fulltime salaries in primary care were $75. Now med residents make 75kand starting primary care is $135k. It all works out spouse and I paid our loans no problem, 12 years.
These days almost every top-25 med school has fellowships for merit as well as for need based aid as well as many down to T75 or so. It is much easier $ for dollar now. For those who have the stats to get into T25 or even T75 it is lower debt when inflation and COL are considered compared to 2000.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can take out private loans.

Or you can be poor enough and smart enough to attend one of those schools that offer free med school tuition.

DH graduated from med school 20 years ago and it wasn’t uncommon for people to graduate with 300k of debt. Now that number can easily be north of 500k with undergrad.

Medical residents made 28k 25 years ago, and starting fulltime salaries in primary care were $75. Now med residents make 75kand starting primary care is $135k. It all works out spouse and I paid our loans no problem, 12 years.
These days almost every top-25 med school has fellowships for merit as well as for need based aid as well as many down to T75 or so. It is much easier $ for dollar now. For those who have the stats to get into T25 or even T75 it is lower debt when inflation and COL are considered compared to 2000.

I doubt it is "lower debt" now. And did you have private loans? What was the interest rate?

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can take out private loans.

Or you can be poor enough and smart enough to attend one of those schools that offer free med school tuition.

DH graduated from med school 20 years ago and it wasn’t uncommon for people to graduate with 300k of debt. Now that number can easily be north of 500k with undergrad.

Kids who want med school should take no undergrad loans - by any means necessary.

+1. This was our kid’s path. Went to a state university on a full merit over big name schools and we used her 529 plus our money for medical school. No loan at all. We spent 320-350k total. Borrow 200 and out of pocket 120-150?

[Anonymous]

For some, service academies are an option. The service commitment after residency may be a no go. My niece, a USNA and med school grad is currently serving in Hawaii.

[Anonymous]

Anonymous wrote:For some, service academies are an option. The service commitment after residency may be a no go. My niece, a USNA and med school grad is currently serving in Hawaii.

Very limited number of slots to do this from USNA. I want to say 5 or less a year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:For some, service academies are an option. The service commitment after residency may be a no go. My niece, a USNA and med school grad is currently serving in Hawaii.

Very limited number of slots to do this from USNA. I want to say 5 or less a year.

You don’t have to go to a service academy to get the military to pay for med school

[Anonymous]

My DS graduated from med school in 2019. His med school loans were all 7 -7.5 % range. At that time, mortgage rates were 2.5%. Keep in mind post graduate loans start accruing interest as soon as you take them. In comparison, the undergraduate FASFA loans don’t accrue interest until after you graduate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:For some, service academies are an option. The service commitment after residency may be a no go. My niece, a USNA and med school grad is currently serving in Hawaii.

Very limited number of slots to do this from USNA. I want to say 5 or less a year.

Might be a little more than this but shared with dental slots, I believe. Competition dependent on how many people in the class are interested.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For some, service academies are an option. The service commitment after residency may be a no go. My niece, a USNA and med school grad is currently serving in Hawaii.

Very limited number of slots to do this from USNA. I want to say 5 or less a year.

You don’t have to go to a service academy to get the military to pay for med school

Right, but no undergrad tuition if you do. Longer active duty service requirement, though, which makes sense.

[Anonymous]

Anonymous wrote:My DS graduated from med school in 2019. His med school loans were all 7 -7.5 % range. At that time, mortgage rates were 2.5%. Keep in mind post graduate loans start accruing interest as soon as you take them. In comparison, the undergraduate FASFA loans don’t accrue interest until after you graduate.

This sux

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can take out private loans.

Or you can be poor enough and smart enough to attend one of those schools that offer free med school tuition.

DH graduated from med school 20 years ago and it wasn’t uncommon for people to graduate with 300k of debt. Now that number can easily be north of 500k with undergrad.

Kids who want med school should take no undergrad loans - by any means necessary.

A doctor is better equipped than almost anyone else to pay off undergrad debt, even if you also include med school debt.

You can’t say this as a blanket statement. Not for a pediatrician or primary care.