<p>I am unsure how much money I should have saved for med school by the time I begin. How much should I have saved and how much debt should I be willing to take on?</p>
<p>BU Med estimates that, with tuition and living expenses, you’ll be shelling out $69,000 per year (tuition is currently $46,500). so take the school’s tuition you’re looking at and &/deduct as appropriate. then deduct if u won’t have to pay for insurance (i.e. on your parent’s plan), room & board, etc.</p>
<p>save as much as you can and be prepared to take on a crap-ton of debt; the amount of debt you’re willing to take on depends on you and how badly u want to go to medical school.</p>
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<p>When you are accepted to a medical school, you need to be prepared to take on that school’s COA (cost of attendance) x 4 (also considering that this figure is likely to go up each of your four years of medical school) minus however much you have saved at that point.</p>
<p>Basically, be prepared for a lot of debt.</p>
<p>God I hope I make it into a Texas school. <15k/yr for tuition for all 8 of them :D</p>
<p>Then you gotta factor in room and board, but still, it’s a sweet deal.</p>
<p>whaaaaaat?!?! zfanatic, i’m totally jealous.</p>
<p>I go to a Texas medical school; just paid tuition and fees for third year-$16,200. My living expenses for past two years-rent, utilities, food, car etc… has averaged $1800/month. So even attending an “inexpensive” Texas school in an inexpensive to live in City(rent is <$700/month) still averages $38,000 a year.</p>
<p>I have to second hubbellgardner. My S just finished his first year and his budget for last year and this coming year is in the 34K range. It goes up years three and four because they factor in a clothing allowance since you can’t dress like a college student while doing your rotations.</p>
<p>If you also and consider that three of the schools are in Dallas, Houston and San Antonio, the cost of housing near the med schools is on the expensive side. Now to be fair here, it’s not like living in Manhattan but 700 sq ft one bedroom apartments near the schools can easily run $900-1100/mo or more plus utilities plus food, plus insurance, plus car etc.</p>
<p>It sure beats $40-50K a year for tuition alone but it is still not inexpensive.</p>
<p>And don’t forget that extra residency and relocation loan during 4th year to pay for all the interview expenses. Most of the semi-competitive specialties won’t even pay for a hotel (Lucky for me, all but 2 of my pediatrics programs did, and at one of those places, one of my best friends lived in town so I stayed there). That can be anywhere from an extra 5000 to 18000 dollars (though I got my money before the economy tanked, so it might be harder to get that upper limit this year and in the future).</p>
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<p>Good God , man. Stay at the Hilton. Not with **Paris **Hilton.</p>
<p>Is the cheap Texas tuition deal only for Texas residents, or for anybody?</p>
<p>Texas OOS rates are still very reasonable compared to most state’s in-state rates. Plus at some (maybe more than some) Texas schools if you get a merit scholarship (not impossible to do) you auto-qualify for in-state rates.</p>
<p>Another good place to apply are the Ohio schools - they charge you a ton first year, but thats because you automatically get Ohio residency (and cheap tuition) for years 2,3, and 4. :D</p>
<p>But the best deal would be to somehow establish N. Carolina residency a few years before applying and get into ECU - their tuition is only like $8-9k… a year! I’ve got a few friends at ECU - very jealous of their COA.</p>
<p>Declaring residency in NC is difficult to accomplish because they recognize the value of their state schools both undergrad and at the grad and professional levels. Taxpayers there pay a disproportionate amount of their taxes toward higher education and they are (for the most part) very protective of their in-state status as a result.</p>
<p>UNC administrators found a loophole in state law that they utilized for undergrad admission to try to get around the 18% cap on OOS enrollment a few years ago and it really set off a major brouhaha in the state legislature and among NC residents.</p>
<p>Icarus, thanks for the tip. That kind of info could be very helpful to upcoming classes.</p>
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<p>same policy applies to the four NY state schools which are very popular with OOSers, especially Califorinians</p>
<p>wow is bu the only school with tuition over $40k? i feel extremely depressed at this very moment.</p>
<p>Goodness no. I don’t know of any private schools that are under $40K. (Besides Baylor.)</p>
<p>ok that makes me feel a teeeny bit better.</p>