<p>I really want to go to BU for pre-med, however, I have to take out around 9k in federal loans and pay an additional 9k each year. Can someone kindly tell me if it’s worth it?</p>
<p>Say I end up going to medical school as well, how much should I expect to owe and how long does it usually to pay that off? Thanks so much!</p>
<p>" really want to go to BU for pre-med, however, I have to take out around 9k in federal loans and pay an additional 9k each year."
That isnt bad at all. Thats 18 k per year (although I dont know how much you have saved up…assuming 36 k?) So if you take out 9k in loans per year that is about 36 thousand base, and around 41k with interest. </p>
<p>That’s about first year salary’s worth of loans. </p>
<p>Your question as to whether it is worth it or not is entirely up to you. I have to take out 11 k in loans and I decided it was better than going to my 2nd choice school as the program and environment at BU suited me entirely. </p>
<p>“Say I end up going to medical school as well, how much should I expect to owe and how long does it usually to pay that off?”
Varies per school. Some are 40k per year. Some are 70-80.</p>
<p>9K in loans is not bad. When you borrow for medical school, the calculations are different because you are then in a pre-professional program with a set of salary guidelines for various specialty choices. But for undergrad, which is all you can rationally consider now, $35-40k in loans is not that much.</p>
<p>It’s also different because you usually take out loans for living expenses too. People don’t usually do that for undergrad. For law school, the average monthly loan payment for someone looking to get rid of their debt within 10 years is 1500 dollars a month. A little mind blowing, but a fact of most professionals’ lives.</p>
<p>haha yea. bu med this year is ~$46,500 in tuition. they estimate that with everything (living expenses, medical insurance, books, etc.) that you’ll pay $69,000 per year. seriously stressing me out right now. but also know that in state medical schools are about half that price (umdnj would’ve been SO much cheaper for me). so honestly, if you want to go to med school, $40k in loans is NOTHING compared to what you’ll be paying 4 years from now.</p>
<p>haha that certainly sounds encouraging!
So do students generally pay off their loans before entering grad school?
and thanks for the responses</p>
<p>hahahahah…NO
unless u take about 10 years off before going to grad school</p>
<p>Some people do go to work for a few years before grad school. But not generally before medical or law school.</p>
<p>Yeah, generally a year at most. And that’s not enough time to even make a dent in your student loans, unless you are ballin’</p>