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Started By
Message
Your stance on student loans?
Posted on 9/15/16 at 7:03 pm
Posted on 9/15/16 at 7:03 pm
I'm going to be graduating with a biology degree this May. I considered medical school for a long time, but I recently realized I do not want to be in school until I'm 30+ with a mortgage-sized payment in student loans. That never sunk in till lately. I will likely consider a masters or a professional program that will not take as long to complete. I have heard everything from "Don't let money stop you" to "Go to trade school; never get into debt." In my case, I don't see how I can make a good living without getting into some debt, but it is a very scary feeling. Thoughts?
Eta- I come from an upper middle class family, but my parents won't be helping me after undergrad, which I understand
Eta- I come from an upper middle class family, but my parents won't be helping me after undergrad, which I understand
This post was edited on 9/15/16 at 7:07 pm
54
Posted on 9/15/16 at 7:06 pm to schwartzy
OTers don't take out loans, they pay straight cash
Posted on 9/15/16 at 7:06 pm to schwartzy
Get a job and work your way through grad school
Posted on 9/15/16 at 7:07 pm to schwartzy
Do you have a job lined up and can you pay off loans in a short amount of time.
Posted on 9/15/16 at 7:07 pm to schwartzy
Depends.
State medical schools really aren't all that expensive. You make enough in residency to cover your expenses even though you're far from rich.
So you're looking at taking loans for four years of medical school. If you live very conservatively, it's possible to get out of residency with under 200K of loans.
State medical schools really aren't all that expensive. You make enough in residency to cover your expenses even though you're far from rich.
So you're looking at taking loans for four years of medical school. If you live very conservatively, it's possible to get out of residency with under 200K of loans.
Posted on 9/15/16 at 7:08 pm to schwartzy
One foot on each loan, arms akimbo, legs shoulder length apart.
Posted on 9/15/16 at 7:08 pm to schwartzy
Back in my day I worked all summer flipping burgers to pay for my entire years tuition. Youngsters now a days are just lazy fricks
Posted on 9/15/16 at 7:08 pm to schwartzy
This is the OT, we all had multiple athletic and academic scholarship offers. Loans? Ha.
Posted on 9/15/16 at 7:10 pm to TheOcean
quote:
The Ocean
In your day, a year's worth of tuition+food+rent wasn't at least $20,000 annually. My grandparents could work over a summer and pay a year's tuition. Cost of everything has hiked so much that no job summer job would pay all that
Posted on 9/15/16 at 7:16 pm to schwartzy
quote:
In your day, a year's worth of tuition+food+rent wasn't at least $20,000 annually
Yeah maybe if your getting a fancy private school degree
Posted on 9/15/16 at 7:17 pm to schwartzy
Not to mention every job now required 5-10 years experience for entry level positions.
Posted on 9/15/16 at 7:19 pm to schwartzy
Can't ask your folks to help ?
Posted on 9/15/16 at 7:22 pm to TheOcean
Yea stfu, go check out how much tuition and books have gone up vs minimum wage.
Posted on 9/15/16 at 7:26 pm to schwartzy
What do you want to do?
Real talk. A general biology degree is junk.
A lot of people that try to go Tom med school major on biology and they don't make the grades to get into med school and are left with a fairly worthless degree
Real talk. A general biology degree is junk.
A lot of people that try to go Tom med school major on biology and they don't make the grades to get into med school and are left with a fairly worthless degree
Posted on 9/15/16 at 7:30 pm to schwartzy
Shop around and find the best bang for your buck in state med school. Work when you can, be frugal, and go to Med school and kill it.
Don't look back. and Don't worry about the partying and shite. You will make up for your lack of social life when you get out. Oh and from all my friends that went to med school, it wasn't as bad as you may hear. They all had decent social lives and all got laid a pretty good amount.
Good luck and go to class
Don't look back. and Don't worry about the partying and shite. You will make up for your lack of social life when you get out. Oh and from all my friends that went to med school, it wasn't as bad as you may hear. They all had decent social lives and all got laid a pretty good amount.
Good luck and go to class
Posted on 9/15/16 at 7:32 pm to schwartzy
Don't borrow more than you have to. Don't be afraid to borrow what you absolutely need. Make sure you choose your career path wisely. PA, OT, PT require just a couple of years of school. Pharmacy is cheap at ULM but the field is getting saturated. Optometry is pretty expensive, and it can be hard to establish yourself unless you take a Walmart job. Just consider your options carefully, pick the best match for you and go for it. Drive an older car for a few years and you can knock out the loans quickly.
Posted on 9/15/16 at 7:34 pm to schwartzy
quote:
Your stance on student loans?
no problem at all with loans...in fact, I wouldn't have been able to attend school without them.
*take out only the loans that you have to take to get by....
*live frugally...
*be damn sure you get a degree that is worth what it costs you...
if you do all of that, loans are a real benefit.
if you think about it, the worst thing that could possibly happen would be to not finish medical school and end up with no degree and an assload of debt because of a few years of unfinished medical school....that would be a disaster.
Posted on 9/15/16 at 7:36 pm to SuperSaint
Financed my entire college experience on student loans, graduated, got a job and flat out wore it for 5 years. Paid around 50% of my take home to get the loans done with. By 27 I was clean of them and it's been the best decision I've made...
Posted on 9/15/16 at 7:37 pm to schwartzy
If you've only CONSIDERED med school, don't do it. Of you are going to go into a post-grad program, pick one and commit to it. Don't dance around it. Student loans suck. Mine were relatively small compared to most (paid out of pocket for a few semesters), but it's like a nagging itch until it's gone. But, it was worth it. Got my Master's and haven't looked back. It has benefited me greatly.
Look at it like you would anything else...what is the cost, and what is the payoff? If it isn't worth it, move on to the next option.
Worst thing you can do is saddle yourself with 100s of thousands of dollars of student loan debt, and then get a job making $30 or $40k a year. It will take a lifetime to pay it off unless you go to work for the government or some other public service.
Look at it like you would anything else...what is the cost, and what is the payoff? If it isn't worth it, move on to the next option.
Worst thing you can do is saddle yourself with 100s of thousands of dollars of student loan debt, and then get a job making $30 or $40k a year. It will take a lifetime to pay it off unless you go to work for the government or some other public service.
Posted on 9/15/16 at 7:39 pm to schwartzy
I can't speak to med school. Obviously it just depends on how much money is required and what the value of the degree is for you.
Six figures in loans to Vanderbilt for a law degree that may well have you earning 165k upon graduation is a fair investment. Spending 100k for a creative writing program at Vanderbilt probably isn't. Spending 70k for a law degree from a fourth tier law school in a state that doesn't have big law firm jobs probably isn't unless you want to be a lawyer at any cost.
In high level programs the chances of you being able to work through school are pretty slim. Some people do it, but if doing so reduces the chance you're going to have high income at graduation, it may be a net loss.
Six figures in loans to Vanderbilt for a law degree that may well have you earning 165k upon graduation is a fair investment. Spending 100k for a creative writing program at Vanderbilt probably isn't. Spending 70k for a law degree from a fourth tier law school in a state that doesn't have big law firm jobs probably isn't unless you want to be a lawyer at any cost.
In high level programs the chances of you being able to work through school are pretty slim. Some people do it, but if doing so reduces the chance you're going to have high income at graduation, it may be a net loss.
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