<p>as greyhaired stated, dont discourage your kids if that is what they want BUT you need to know the reality of medicine today and the type of debt they may incur and the amount of time they will be paying these loans. perhaps they may find a great location, where reimbursements are better (unfortunately those often come with higher costs of living and costs of office etc) or may look at a hospital based practice to reduce costs after school, or go into research/pharm. or as BU said, understand that there will be lean years ahead and live frugally,or find a different funding method, a rural health program, military, md/phd etc just dont get wrapped up in the idea of “wow a doctor makes alot of money… therefore these loans will be easy to take care of” as i posted before, a plumber could make more/hr with alot less debt and has about a 10 year lead on you in the workforce LOL</p>
<p>Healthcare costs expected to increase in the US I would not recommend most people pursue an M.D. degree. There are great opportunities in the pharmaceutical and biotech sectors.</p>
<p>cpt, she is borrowing “some”, but it should be less than the “average”. Yale is very generous and we should have the ability to help some. Had she chosen another school, she may have come out close to debt-free. Such is the nature of “choice”.</p>
<p>My friend is still grumbling and rumbling about this. Son was accepted at Pitt Medical school. They live in Pittsburgh suburbs. It’s a state school, he could live at home and commute, save everyone a lot of money. He wanted Emory.</p>
<p>Your friend’s son is an idiot.</p>
<p>My friend agrees. He spoiled this way, and guess who spoiled him? He’s been raised in a way that he has always gotten his choice of schools without regard to price.</p>
<p>Enginox- Judgmental much? lol </p>
<p>Put my kid in your “idiot” column, too. She won’t mind. In fact, she wouldn’t give a rat’s:eek: what you think. 
She chose her med school based on factors other than costs, too. Things that mattered to her. She gets to pay for them, too. Such is the way of the world.</p>
<p>Lots of idiots that way. Not just for med school.</p>
<p>We’re helping our daughter with rent, food and a car. She will probably have on the order of 100k in loans when she finishes. Fortunately, she didn’t have any loans for ug and she also had saved some money from working.</p>
<p>It’s alright. I stopped being an idiot recently; nowadays I’m misinformed. If your daughter is the one fronting the costs of med school, then she is not necessarily an idiot. I’m mostly against idiotic sons/daughters that think mommy and daddy have to pay for everything and also against those moms and dads that put up with that kind of behavior.</p>
<p>My contribution to her med school education is limited by my own idiotic choices in the past. I’d pay the same if she was going to her cheapest option…“all I can”. Unfortunately for her, that ain’t all that much.</p>
<p>Ah, Curmudgeon, the mistakes many of us made! I just hope our kids don’t continue the cycle. </p>
<p>For most folks, medical school is a worth while investment. Though the likelihood of becoming rich these days as a doctor has diminished, it still is a good, high income. It’s also a tough job that requires commitment, motivation and direction from a relatively young age. Any missteps along the way compromise this goal, sometimes fatally. </p>
<p>I’d help out with medical school, heck I’d pay it all if I possibly could. Usually the moms and dad are the ones who create these monsters, Enginos. Not only do they create them, they feed them all of their lives and when the kids’ appetite becomes private, sleep away college sized, all of a sudden they cannot afford the “food”. Yeah, I’m one of those fools, but am fortunate that my kids didn’t wolf down the food and expect more of the same.</p>
<p>Biscuti, and others in her predicament need to see a LEGITIMATE debt counselor and credit repair consultants. They most likely can negotiate some of those fees and charges on private loans. For the government loans, she is likely out of luck.</p>
<p>My D’s UG choice made her med school choice possible. Had she used all her “money” (parental and credit) on UG, I doubt that she’d have made the same med school choice. Her debt should be a “doable” number and (if we can) we will help with that during residency so the interest doesn’t eat her alive.</p>
<p>^^^^having had the privilege of meeting your wonderful D, i know she will do well no matter where she goes!!!. son is doing the same for undergrad, no debt with his instate choice.</p>
<p>Funny, I remember talking to curmudgeon back 4-5 years ago when both our D’s were embarking on their UG years. Guess we didn’t ‘learn’ them very well, did we? I distinctly remember saying at that time that to these kids, the figures $10,000 & $100,000 are interchangeable.</p>
<p>My D’s med school debts in the Chicago area will be on her–we took care of UG (except for her own $18K in Staffords) & were happy to do it, although we have another D at an OOS school right now. And–I suspect–we’ll be happy slipping her some cash here & there for walking around money. She does have a 1 BR apartment herself for one year (a little pricey) but probably will find a roomie when she becomes an M2. And she’s driving a '04 Toyota with 200K miles, 5 miles each way to school, free parking at both places.</p>
<p>Not much more we can do now. I’ve given her the debt ‘talk’ numerous times since she was admitted, and she keeps saying ‘I still want to do this’. OK, have at it…:)</p>
<p>DD is lucky to have no UG debt and lucky to be assigned to the small town where she and her roommate rented an apartment for something near $700/mo, that’s split between the two of them!</p>
<p>But she is taking her car, it is also paid for and insurance is about $50-60/mo. Those unknowns about the realities of the COA budget versus real life are why she is taking the full amount offered first term.</p>
<p>I have heard of a program that allows you to receive money for med school and work it off in rural and underserved areas; I know a girl doing that in AZ by the Navajo reservation. DD is investigating that. As I understand it, it is 1:1- years of funding to years of service</p>
<p>alabama has a program like that too</p>
<p>U.S. Health Service Corps - This is a great way to fund your medical education if you’re seeking to be a physician or nurse. The National Health Service Corps is a government program that will pay most or all of your tuition, in exchange for 2 to 4 years of service in a medically underserved area of the country. If you are willing to relocate to a more rural area to work for a few years, this could be an excellent option. </p>
<p>This sounds like it is tuition only, so may be more appealing to people at privates</p>