<p>mcat2–let me try this one. If you’re knocking 20k off of 45k, let’s assume you’re getting close to a “half ride.”</p>
<p>I had a little more than a “half ride” to undergrad, and my parents could reasonably pick up the rest. I’d estimate that most of my friends (and all of my close friends) had at least that much funding for UG. In med school, save for the people who are in service agreements with the military, a primary care service program, or the Indian Health Services, I personally do not know one med student at my school who has close to a “half ride,” although I am sure some exist. </p>
<p>Then again, part of the reason I knew so many people with scholarships in UG is that my state guarantees a certain amt of scholarship money once you get better than a 31 on the ACT, and guarantees more if you’re within the top 2% of your graduating class. Most of my friends hit one or both of those marks, and I believe that’s where most of the funding for their UG scholarships came from (keep in mind, we went to a state school where tuition is <$15k/yr). On the other hand, in med school, most of the merit-based scholarships come from gifts and endowments; and let’s face it, my school’s endowment is not that impressive. As a result, there are very few students with merit aid >$5000, which unfortunately doesn’t come out to being a “half ride” (tuition = ~$24k)</p>
<p>Edit: I did think of one classmate who won a one-time scholarship for about half of that year’s tuition.</p>
<p>Kristin, how great about the text books! Luckily, D’s class is first at school to use and give all students an I pad. I think curms D’s school has used them for a couple years now, correct?</p>
I think the full tuitions and fees at DS’s UG may be close to $51k/yr (i.e., swap the two digits, or maybe around $45k?) than $15k/yr this year. But I guess less than one half of the UG students are full pay students.</p>
<p>As regard to the out-of-pocket “true” cost of attending a med school (either from your future income or your parents’ current income or assets), what I am trying to find out is whether the “social engineering” by and large stops right after college, for the majority (say, > 90-95%) of students in the MD program (excluding MD/PhD students of course.)</p>
<p>Let me illustrate it using the example of elementary/secondary school funding in the state of Texas. </p>
<p>Rich school districts have higher revenue to fund their school districts because of their higher property values. Poor school districts are just the opposite, unless they happen to sit on the land with oil. So each year rich districts are required to write a big check to poor school districts by law, on the ground that the kids in a poor district are not there by their choice and they should receive their fair share of this society’s resources to be educated just like the kids who were born into a household in a rich district. (BTW, the nickname of this school funding system is called Robin Hood by the haters of this system.)</p>
<p>If you replace the school district with the family or each individual in the above example, you arrive at the social engineering at more individual level.</p>
<p>I do not say this is right or wrong. I only know that the Robin Hood system is hated by many people and is also favored by many people in this state. I think the fight has last for several decades. And it appears more and more well-to-do families start to send their kids to private schools because the tax money they pay into the system does not stay in the school district their kids are in.</p>
<p>BTW, at the college level, many students go out of the state to receive their education because of the “top 10 percents” rule (and Texas loses a lot of money because of this and it is a “good business” for several adjacent states.)</p>
It apparently has Kristin’s name on it, but no matter. </p>
<p>As to the “social engineering”, my kid’s med school is the only one I know anything about, and then only her situation, really. Without need-based FA she would most likely not be attending. There. They socially engineered that one. lol </p>
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<p>So, no. I think that at her school it would be substantially higher than 10%.</p>
<p>op as well as UA in tuscaloosa you might want to look at UAB in birmingham…it has a full ride for nmf and national hispanic student… this one includes 4 years of housing (ua only includes one year now) full tuition (15 credits per year) and a stipend. UAB is the home of the med school, very very strong school for sciences. Has an incredible honors program (sci/tech) which is research based. the campus is surrounded by 7 hospitals so unlimited shadowing, volunteering opportunities. 11k undergrads, urban campus. not a football or party school. about 6% greek. very different vibe than UA. </p>
<p>easy quick app, no essay. If you apply to sci/tech honors, it will require a short essay and possible interview as you move through the selection process.</p>
<p>feel free to pm for more info as uab does not have a forum on CC</p>
<p>How long have you lived in Texas? Are you familiar with the history? These “districts” are artifacts of the past, when racism was institutionalized in Texas( and definitely not limited to schools) . They should not exist. Where I live the “school district” is the entire county. What a waste to have scores of tiny districts with all associated overhead, created just to deny resources to others, shameful. But because of changing demographics, things will be changing real soon in Texas :)</p>
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<p>:confused: This makes no sense. They will still pay the taxes. BTW, the school tax rates in the affluent districts are much lower than they are in the poorer districts. How fair is that?</p>
<p>I have lived in Texas for more than two decades. But I started to pay attention to the school district only when I needed to find a “good” middle school and high school for my kid. I am not an expert about this. The only source of information for me back then was just the local newspaper.</p>
<p>In the city/county where I live, the school district is really not the same as the county, but the size (in terms of the area or population) is about the same. It was very confusing to me at first. It is still confusing to me today.</p>
<p>Not many years ago, the congressmen in this state decided to redraw the election districts (not school district) for political gains. Some congressmen decided to run away to a neighboring state in order not to vote. The other (the majority) side tried to make use of state troopers to hunt them down and brought them back to the state to vote. What a fiasco! (It seems that the election districts were redrawn successfully in the end.)</p>
<p>I think the very well-to-do families just want the “best” for their kids. I think they do not care very much to pay to both the public school system (if they can not avoid it) and the private school their kids attend.</p>
<p>At one time, I had a chance to visit a high school in a poorer district. They posted where their students had gone to college. Among the whole graduation class, only about 3 or 4 kids went to 4-year flagship state college. A much higher percentage of their graduates went to a community college. I do not think the well-to-do families will ever want to send their kids to such a low-performing high school. (Some high power small private high school routinely sends about 20% or even 25% of their graduating class, to ivies every year.)</p>
<p>"state/public med schools can be a great option!>
-As I have mentioned several times, not in every state! In our state 3+4 year prices are about the same all across and are the same as in privates. In additon, some of our state/public are so much more expansive for OOS, that I do not understand any reason to apply if you are OOS, unless you cannot get anywhare else. We are talking about $57k+ /year in tuition alone!!! While privates are the same pice for IS and OOS. That explains huge number of OOS at D’s private.</p>
<p>Agree with mcat2 “I think the very well-to-do families just want the “best” for their kids. I think they do not care very much to pay to both the public school system (if they can not avoid it) and the private school their kids attend.”</p>
<p>One correction: not "the very well-to-do families ", but pretty much ANY family that values education, I know several that are actually low income, they just found the way, there are scholsrships, both Merit and need based. And even my D. managed Merit scholarship at the most expansive HS in our area, that covered about 1/3 of her tuition. Her HS has been sending 100% of graduates to 4 year colleges since ever it was established, but it is very small (D. had 32 classmates n her senior class).</p>
<p>Please correct me if I’m wrong, but every citizen of the united states of america that pays taxes pays for public schools regardless of whether anyone they know is attending.</p>
<p>A family that sends its kid to private school is paying a premium so that its kid can attend a better school than the one the government offers, but they’re still “paying” for the public school too.</p>
<p>i<em>wanna</em>be_Brown, I think you are correct. At least here, how much you pay for the public school tax depends on the appraised value of your property (for most, it is your house) and the tax rate set by the school district. I think it is only when you are homeless, you do not need to pay. Even when you rent an apartment, the “property tax for school district” is implicitly included in your rent.</p>
<p>Actually, in some (not particularly) wealthy school district, they intentionally prohibit the apartments (esp. two-bedroom ones) to be built in their district, in order to prevent those families in the lower socioeconomic class from living in their school district. This is somewhat like segregation by the financial resourcefullness of families. Those days (back in 70’s or 80’s?) when the kids were bused across the town/city were long gone.</p>
<p>One of my coworkers does not have any kid. He always said he paid for other people’s kids, but these kids, when they grow up, will work and pay for his retirement. So it is a fair game for him (It is a possitive attitude on his part, but in reality he really does not have other choice.) </p>
<p>But it appears that some people really prefer that we will have some voucher system so that whoever pay into the system will receive the vouchers and they can then use the vouchers to pay for either the public school education (or even select the school to attend at their will) or a part of the private school education.</p>
<p>Regarding “a family that sends its kid to private school is paying a premium”, an analogy is that some family is willing to pay a premium for perceived “high-end” products (e.g., products from Apple.)</p>
<p>@Miami, I know OH is different. That’s why I added this:</p>
<p>(Yes, I know in some states, the difference between state and private schools isn’t that much. And I know some students would shudder at the thought of going to their state school. But in general, it seems like your state’s state school will be the least expensive provided you don’t win lots of scholarships from private schools.)</p>
<p>Just to throw some numbers out there, in terms of tuition: private school in my state = $48k/yr x 4yrs = $192k, and my state’s school = ($28k/yr x 2yrs) + ($30k/yr x 2yrs) = $116k. And to me, the savings of $76k (before interest!) is without question significant enough to guide my decision.</p>
<p>I didnt want to get into it but you are 100% right. In some places it’s only a perceived difference but in other places (eg NYC) it is very much a real difference.</p>
<p>Also, just to make sure there is no confusion, I am talking about high school and below.</p>
<p>Looks like the Robin Hood Plan is still alive. I grew up in one of the districts that had its money distributed. always a heated debate about it</p>
<p>"A family that sends its kid to private school is paying a premium so that its kid can attend a better school than the one the government offers, but they’re still “paying” for the public school too. " - Correct.
Huge input In D’s decision to go to Private Med. School, was a very different Med. School program at her school vs most others. She liked that and the fact that she picked up from Second Look that students are primary focus, which has been proven correct so far…and as so usual for her, 2 hrs from home was a big plus, but publics were also close enough. Prices are the same as Kristin mentioned, except in 3rd and 4th year in our publics is the same price as at private, which makes the difference of about $30K+ in total, which I told her did not matter to us (we are still paying and praying every day for our jobs)</p>
<p>Not sure if this was discussed, but if you have any loan amount wiped out via IBR, you have to pay taxes on the wiped out amount.</p>
<p>I would not take out more loans than your starting annual salary. If you are going to be a primary care physician, don’t take out more than ~120k.</p>
<p>Many medical students will have 300k+ in loans by the time of repayment since they can’t pay much on their loans during residency. Your monthly minimum payment, given the current 6.8 and 7.9 interest rates, for $300k will be around $3500+ a month for 10 years. Most people will want to pay off loans faster since the interest rates are high. You can save about half the interest if you pay down your loans in half the time. </p>
<p>I have 150k in loans (some college, some grad school) and make around 200k a year at a tech company. (I’m not in medicine so I didn’t spend as much time in school.) My minimum payments are around 2k but I try to pay down 3k a month since interest rates are high. It is a struggle throwing all of this money towards loans for years. I would not take out more than 100k in loans if possible unless you go into the highest paying specialties. Even if it seems like you’re making a decent amount of money, your loans will take away a good part of your salary and your life. </p>
<p>Go to college for free and go to the cheapest medical school you can get into. And my best advice is don’t take out more than your first year starting salary.</p>
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