<p>Hi I have a pretty big question. I have been accepted at University of Oxford in England for a 4-Year Masters Program in Biochemistry. However as an international student I would have to foot the entire ~23000 pound per year in debt. I will also be attending Medical School afterwards and so will have that to worry about too. My question is if I attend oxford do well and get high mcat scores, and then assuming i get a full ride to a half decent med school will that about $180,000 debt be manageable when i get out of school? I have also been accepted to UofM Ann arbor where my costs would be about $25k per year. Would doing well at u of m and the same mcat scores get me as good offers from med schools, because from U of M ill only get a bachelors instead of the masters? Med schools are about 40-50k per year now, right?</p>
<p>I know UofM is a great school but really I have always dreamed of Oxford and now that i am accepted i am trying to find ways to fund it. Does anyone know of any funding/scholarships i could get for these studies that would at least partially cover this debt?
Thanks and really any advise you can give me is greatly appreciated.
Dan.</p>
<p>Think of this another way: If you truly plan to go on in Medicine then why the spend the big money.....since you'll essentially be taking pre pre med classes. What would be the undergrad advantage at any one school? On the other hand, perhaps the selection of the undergrad school "might" enhance your chances of getting into a grad school. Hmmmm? So, I would think of what the school can do for your transition into premed, med or grad. Otherwise, spending a lot of money on a simple liberal eduction at an expensive school boils down to picking it based on other "non-academic" reasons (environment, social life...etc) that the college has to offer. You should consider all since it will be 4+years of your life.</p>
<p>BTW, you can get a loan/aid as a US citizen at a non-US school in some cases. The US federal government loans out money to US citizens for many non-US colleges provided they can receive Title IV aid.</p>
<p>From the FAFSA website</p>
<p>What if I'm attending (or planning to attend) a foreign school that does not have a code, but is eligible to receive Title IV aid?</p>
<ol>
<li>Enter the code for a school based in the United States that you would not mind seeing your information. (This is because you must enter at least one code on the FAFSA)</li>
<li>When you receive your Student Aid Report you will need to send it, or a copy of it, to the foreign school's financial aid officer responsible for handling financial aid for American students.</li>
<li>Follow the financial aid officer's instructions for obtaining the aid you are eligible for.</li>
</ol>
<p>If you are unsure if your school is eligible to receive Title IV aid, contact your school's financial aid office.</p>
<p>OK...parent here. I would NEVER advocate for a student to be in $180,000 debt following undergrad school. There are too many uncertainties. First...you may change your mind and decide to major in something else (perhaps with MUCH less earning power than a doctor). Second...you might NOT get financial aid for med school. Third, you might have some other life's circumstance that would prevent you from being able to pay those debts. Even if none of the above happens, paying a $180,000 loan will take a HUGE chunk of your income monthly for MANY years. I know this is your dream...but it is quite an expensive dream. Is your family able to support you in any way? Are they funding a portion of your college education? If not, I would consider the less expensive option. U Mich is a terrific school. I'm not completely familiar with med schools...but I don't think having a masters is a make or break thing. The important thing is the premed prerequisite courses, and good MCAT scores from what I've heard.</p>
<p>I would be very cautious given the current status of the US dollar, further drops in it's value could increase your already high amount of debt substantially. </p>
<p>The average debt for med school is $130k, are there really that many full rides available?? </p>
<p>full disclosure, My D turned down the most selective privates for a full ride at UM as she is likely going on to med school. The difference in $$ between the privates and UM is about the same as what you're looking at with Oxford. It is a very tough decision, good luck!</p>
<p>Do not go into that much debt. You can get where you want to go by attending Michigan or many other schools. 180,000 is an incredible debt burden to be carrying before you even start medical school. Having a masters won't make it easier for you to get into medical school than having a bachelor's. Go to a less expensive school in the US and spend a semester or a year abroad in England. In addition, as Muffy pointed out, free rides to medical school are extremely extremely rare. Considerably more rare than free rides to undergrad schools. Financial aid for medical school is different than it is for undergrad and tends to rely more on loans. Is 23,000 pounds just tuition? Also remember that England can be incredibly expensive to live in. A meal at Mcdonald's just for you will probably cost 10-15$. If you have to take out loans to go to medical school, you will be starting your adult life with well over 200,000 in loans. It's very difficult to consider buying a home, starting a family, etc, with that type of debt burden hanging over your head. I agree with the other parents who have commented so far. Don't do it.</p>