<p>Hi </p>
<p>How miserable would my life be with 100k undergrad debt and med school tuition fee?</p>
<p>is 100k even possible to be paid back?</p>
<p><a href=“http://www.nytimes.com/2010/05/29/your-money/student-loans/29money.html[/url]”>http://www.nytimes.com/2010/05/29/your-money/student-loans/29money.html</a></p>
<p>Really, really miserable. Don’t do it. I guarantee you there is an option you can choose which would cost tens of thousands of dollars less and let you pursue your medical school dreams.</p>
<p>but I really love UMich…
my next choice is UCB. I’ll be visiting UCB this weekend but so far, I am not attracted to UCB whatsoever. I didn’t even want to apply in the first place…</p>
<p>You will not love graduating from medical school with perhaps $250,000 in student loan debt, with monthly payments taking maybe half of your take-home pay as a resident or fellow.</p>
<p>$100k in undergrad is more than THREE times as much debt as you should have.</p>
<p>AND…you’d need to borrow another $200 for med school.</p>
<p>Who would co-sign those undergrad loans? Will they qualify each year to borrow that much???</p>
<p>Anyway…that is tooooooo much to borrow for undergrad.</p>
<p>$300,000 is too much. Not only this, there is no guarantee you will be admitted to at least 1 medical school. $100,000 for just undergraduate debt is still too much.</p>
<p>I love Michigan too, and it sucks being OOS for it, but 100k is really foolish to borrow for undergrad.</p>
<p>Your loan payments on $100,000 in loans will be OVER $1000 a month for at least ten years. That is a huge chunk of change.</p>
<p>Michelle - First of all, $100K in debt has significant life-ruining potential. But on top of that, UMich and UCB are the midwestern and western equivalents of one another. If you’re looking at putting your long-term financial viability in peril it should at least be a choice between an apple and an orange - a golden apple vs. a moldy orange, at that. But UMich and UCB are equals. You wouldn’t pay 3X as much for a Honda instead of its comparable Toyota, and you can’t justify taking on debt for Michigan over Berkeley either.</p>
<p>Michelle, since you “really love” Michigan I’d say go for it. It’s priceless. It’s a dream. You only go to college once. Isn’t happiness worth it? Better than being depressed on some dreary UCB campus with the other in-state losers.</p>
<p>Yes, I’m be facetious here.</p>
<p>You wouldn’t pay 3X as much for a Honda instead of its comparable Toyota, </p>
<p>Great line. Althought I might have said a Mercedes v a Jag.</p>
<p>You can figure the payment out on a loan repayment calculator. Be sure to factor in the interest; you wind up paying back more than $100,000 of course.</p>
<p>And then, if you have to pay for med school, add that cost in, too to the loan balance.</p>
<p>However, you might be able to go through medical school as a member of the military and not have to pay tuition. Here is a link with info:</p>
<p>[Corps</a> Benefits | GoArmy.com](<a href=“Army Medical (AMEDD) Careers and Training | goarmy.com”>Army Medical (AMEDD) Careers and Training | goarmy.com)</p>
<p>Good luck.</p>
<p>Michelle…YOU will not be able to get $100K in loans for undergrad in YOUR name alone. Who will cosign those loans?</p>
<p>no one…
my parents wont do it…
Kay thanks guys for all your help! a real slap of reality… but I needed it. </p>
<p>maybe I’ll transfer to UMich after 2 yrs or apply to UMich Medical School…</p>
<p>either way, Go Blue! </p>
<p>and thanks everyone!</p>
<p>I rarely come on college confidential when I’m at school but seeing this thread you can not be possibly serious with your post. Seems more like your just trying to advertise for the school. And as a resident of Michigan one who would not want to attend UMich or even to have a thought of transferring there I can tell you its not great nor worth the price.</p>
<p>With the exception of a few engineering programs such as MIT and Cal Tech no school in the country is worth 100k in debt. You must be smoking something good to even ask this question.</p>
<p>MIT and Cal Tech aren’t worth that much debt either. Their grads may start out making a small amount more, but not enough to justify a $1200+ per month in loan payments for 10 long years.</p>
<p>I understand that. Those are the only programs in the country that would allow you to construct a rational argument for the debt. It would be a poor decision though since you could always to go a cheaper state school and end up in the same situation 10 years from graduation.</p>
<p>Do you guys you’re arguing about a thread that has been dormant for almost three months?</p>