Depends on her speciality- peds gets paid 80k

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The top 20 most affordable med schools average about $25,000 a year in tuition. Average for in state is about $40,000; private runs to nearly $60,000.

All of the top 20 except one are for in state public. Only one is on the east coast. Mayo, which is private and, thus, has high tuition, gives so much aid it is in the top 20 most affordable, and its graduates finish with the least amount of debt.

I just graduated from an in-state med school in NY and have about 220k out in student loans (including interest) and that was with my parents paying 100% of undergrad including living expenses and paying for my rent, groceries, car, and phone during med school. Its crazy out here folks!

How much will you earn next year?

Likely she will be a low paid resident. It is only after residency that comfortable money is made.

Anonymous wrote:

Anonymous wrote:The top 20 most affordable med schools average about $25,000 a year in tuition. Average for in state is about $40,000; private runs to nearly $60,000.

All of the top 20 except one are for in state public. Only one is on the east coast. Mayo, which is private and, thus, has high tuition, gives so much aid it is in the top 20 most affordable, and its graduates finish with the least amount of debt.

I just graduated from an in-state med school in NY and have about 220k out in student loans (including interest) and that was with my parents paying 100% of undergrad including living expenses and paying for my rent, groceries, car, and phone during med school. Its crazy out here folks!

How much will you earn next year?

It isnt grad school debt in general. Doctors pay their loans back.The article is at its best when it is focused on the stupid choices...

If you don't have a portfolio, you shouldn't be going to art school let alone one with a hundred thousand dollar masters.

Anonymous wrote:The top 20 most affordable med schools average about $25,000 a year in tuition. Average for in state is about $40,000; private runs to nearly $60,000.

All of the top 20 except one are for in state public. Only one is on the east coast. Mayo, which is private and, thus, has high tuition, gives so much aid it is in the top 20 most affordable, and its graduates finish with the least amount of debt.

I just graduated from an in-state med school in NY and have about 220k out in student loans (including interest) and that was with my parents paying 100% of undergrad including living expenses and paying for my rent, groceries, car, and phone during med school. Its crazy out here folks!

Anonymous wrote:

Anonymous wrote:I have heard that a good rule is to not take out more than you can reasonably expect to make your first year out.

Yeah, I've heard this too. But say you have 30k in undergrad loans, which is reasonable, and most people's parents can't help with grad school, it can add up quickly. Then there's programs that are still useful like OT & PT that used to require masters, but now require doctorates. Doctors won't have trouble loans in 10ish years, but people in allied health fields can really struggle, especially if they go to private school.

In that case, I would recommend they take a few years in between undergrad and grad to chip away at those loans.

I went to grad school out of state for a program that wasn't offered in-state. That program was still cheaper than private schools. I had no idea what I really wanted in undergrad so I went back. It cost me $75k to go out of state and that debt has hindered the rest of my life thus far. I'm 40 now and in my 20s and 30s took on extra jobs and lived like a pauper to get the loans down before I married and had kids bc now there are a million other costs. I took responsibility for the debt, but wish I had made different choices.

Anonymous wrote:I have heard that a good rule is to not take out more than you can reasonably expect to make your first year out.

Yeah, I've heard this too. But say you have 30k in undergrad loans, which is reasonable, and most people's parents can't help with grad school, it can add up quickly. Then there's programs that are still useful like OT & PT that used to require masters, but now require doctorates. Doctors won't have trouble loans in 10ish years, but people in allied health fields can really struggle, especially if they go to private school.

I have heard that a good rule is to not take out more than you can reasonably expect to make your first year out.

The top 20 most affordable med schools average about $25,000 a year in tuition. Average for in state is about $40,000; private runs to nearly $60,000.

All of the top 20 except one are for in state public. Only one is on the east coast. Mayo, which is private and, thus, has high tuition, gives so much aid it is in the top 20 most affordable, and its graduates finish with the least amount of debt.

Anonymous wrote:

Anonymous wrote:Don't go to grad school without a teaching or research assistantship. At the very least, get in-state tuition.

Not applicable to law school, med school and most Master's programs. In-state tuition dries up at the law level. The instate fees vs out of state for UVA law are only a few thousand apart.

I meant to distinguish between law/med school and everything else. Those are different.

Also, I had both teaching and research assistantships as a Master's student.

Anonymous wrote:Don't go to grad school without a teaching or research assistantship. At the very least, get in-state tuition.

Not applicable to law school, med school and most Master's programs. In-state tuition dries up at the law level. The instate fees vs out of state for UVA law are only a few thousand apart.

Don't go to grad school without a teaching or research assistantship. At the very least, get in-state tuition.

I can't see the article but I know of someone who took out $150K loans for Northwestern's speech pathology program. I couldn't wrap my mind around that.

https://www.nytimes.com/2019/06/03/upshot/student-debt-big-culprit-graduate-school.html

Interesting article about grad school debt. Undergrad loans aren’t nearly as bad as grad school loans. Even USC had a program mentioned with an average of 100k in debt for borrowers. Seems like one should encourage their kid to major in something more practical for undergrad, so they don’t have to go back and have a crazy debt load.