The more we try to convince OP about Madison…you realize if he hates it, he can blame us. After all, we pushed debt awareness and avoidance.
I say we now let OP do the proper investigation of his opportunities, costs, risks, future potential…and ultimate safeties. It’s his decision.
PhD’s in Chemistry are not earning big bucks
There have been so many posts. Which school is he now considering that would leave him with $60k of debt?
And did he ever say how would UWisc leave him with no debt?
Did he ever say how much debt his parents would cosign for? If not, he needs to ask them now so he knows the situation.
People here are not anti-med school. Several of us who are posting either have kids in med school or are newish doctors. It’s because of our knowledge, we don’t take any of it lightly.
In terms of ROI? Not really.
Take a look at this–http://www.er-doctor.com/doctor_income.html
It takes a physician about 27 years to catch up to a UPS driver.
Have you talked to any physicians lately about the death of private practice & the takeover of corporate physician management groups? Insurance reimbursement rates? The cost of malpractice & liability insurance? Or Press Ganey patient satisfaction scores?
People who go in medicine for the big bucks are almost always disappointed with their outcomes.
Besides, there are zero guarantees that you’ll land in one of the high paying specialties. You could end up a FM doc making $140K/year in small town Wisconsin…
And I’m not anti-med school. I have two young doctors in the family, but it’s not an easy route, nor an easy life even after residency.
If you want to make the big bucks in medicine–go into hospital administration. You don’t even need a MD, just a MBA.
If you can make that extra 20k each year, you wouldn’t need to borrow at all. You could just work and pay as you go.
I’m betting that he will NOT be able to work and earn $20,000 a year if he attends college in London.
Whoops! Lost track of which college/university it was.
Why? Shouldn’t I be able to make more in college than in high school? And London would also greatly increase the amount of money I could make from photography as the type of photography I do has WAY more earning potential in a big city. If I could work and pay as I go, do you think it would be worthwhile?
And big bucks isn’t really the only thing I’m looking at here. Of course money plays a role in it, but there’s some jobs I may be willing to take a pay cut to do.
And I thought I made it clear, but LSE is what I kind of started changing the topic towards.
Furthermore, all of the options that’d leave me with 200k in debt were already ruled out.
Sounds like you have it all figured out, OP.
MODERATOR’S NOTE:
Sounds like that to me as well. Since the thread is already meandering, this seems like a good point to close.