<p>UVa is actually “good” , comparatively. Of course, every student’s situation will be unique and these “average debt for those taking out loans” figures are just the most basic of starting points. </p>
<p>For reference, this would be comparatively “bad” - Drexel </p>
<p>Percent of students receiving any financial aid 90%
Percent of students receiving loans 89%
Percent of students receiving grants/scholarships 41%
Percent of students receiving work study 16%
Average indebtedness for 2007 graduates who incurred medical school debt $188,888</p>
<p>Again, Drexel might be the perfect choice for some students based on their “economic profile”. </p>
<p>IOW, you don’t really care what the average student gets, you care what YOU get. An example of that would be steeler and his IS choices, both of which on average have higher debt levels than UVa (as reported by USNEWS). But how are those levels calculated? How much does steeler’s economic profile (including his parents) change those numbers? How much do they value steeler’s attendance? Enough to give him a merit package? </p>
<p>My D’s strategy is not driven entirely by costs, but by a combination of costs, “feel” or “fit” ( real biggie for her is her fellow students), and what I’ll call “reputation” (for lack of a better word that encompasses residency results, step scores, peer scores, residency directors evaluations, research rep and funding, and the ever popular “prestige”). She has realized throughout the process that it will be difficult to “justify” an OOS school and as such only applied to OOS schools that ended up being Top 25 (with a couple of personal additions outside that). </p>
<p>Within her OOS schools she has a few that grant scholarships to all (Mayo and Cleveland Clinic) and many (Pitt ), and a few (that unfortunately are ignoring her) with great reputations for FA. Our economic profile suggest that she would qualify for FA if she could gain admittance. One thing we learned early on, free rides are not on the table for her. Many schools require all FA students (excepting of course those with giant merit awards) to take out “unit loans” (usually around $24K-34K/yr). </p>
<p>So, if she were to gain admittance to an OOS school that for whatever reason sings to her more than one of our fine state schools (that hopefully admit her), our best hope will be that she will end up owing the “unit loan” ($100K-$140K) or (with any luck) less, after we pay our parental contribution. So , $116K after med school is not out of the question (while $188K probably is).</p>