Paying for graduate school-need input
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Anonymous
| The good news: my DS was accepted to med school! Now, he needs to figure out how to pay for it all. Fortunately, he has no loans from undergrad. We do not have results from financial aid yet, but hoping someone can offer some information on how this all works. BTW, the schools still require the FASFA completed with the parent's financial input even though darling child is 23 years old. What kind of terms should I expect or be looking for? Any advice is welcome. |
Anonymous
| Call the schools financial aid office. Seriously |
Anonymous
|
I work in medicine and we just had this conversation in person. The md's advice to the incoming med student was not to sweat the loans required for med school. There are loan forgiveness programs or research forgiveness programs or really high compensation jobs.
I am swimming in student debt from other fields and I was utterly shocked at this advice, but I believe her. |
Anonymous
I work in the agriculture department at we tell our vet students the same thing. I lived with 3 vets students who were all out of state and had around $200k in loans because they not only took loans for school but for their living expenses all 4 years. It will work out in the end. I can also tell you from personal experience and experience as faculty that you don't have to have the parents on the fafsa for an independent graduate student. It probably would have been better if you hadn't. |
Anonymous
| The student should assume they are going to pay whatever the parents' "responsibility" is. Adults make plans for these things, If your child doesn't, he's not an adult, and should not take this on until he's ready. |
Anonymous
|
It is vey wrong to assume that everything will just work out, especially when average medical school debt can now go up to 400k and your son has no idea what specialty he will be in yet.
Check out the website http://whitecoatinvestor.com He has very good financial advice for medical school students, residents and attendings. Look at that website, but the idea should be the same. Getting a quality medical school education with the lowest loans possible. |
Anonymous
|
http://whitecoatinvestor.com/guest-post-nadia-jones-on-student-loans/
http://www.theherocomplex.com/top-8-financial-moves-to-make-as-a-pre-med-or-medical-student/ Regardless of what type of school he gets into your son should treat taking on student loans seriously. this is the reality he may face and have to work with http://www.kevinmd.com/blog/2011/04/real-life-medical-school-debt.html |