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Most of the dialogue around medical school indebtedness and repayment revolves around the 'average' amount of debt at time of graduation figure ($140k-155k is what I usually hear) that is thrown around. I would imagine you'd have a job, but I recently spoke with the Dean of Admissions at a SC medical school who said that having a job and being a full time medical student is impossible. In 2018, Billionaire Ken Langone made a $100 million dollar donation to the University that has allowed … However, it isn't really that expensive when you compare the relative costs they are incurring to teach you. [Find out which medical school grads have the most debt.] [–]et2oMD/PhD-M3 0 points1 point2 points 6 years ago (0 children), [–]muffdivercottonmouth 0 points1 point2 points 6 years ago (0 children), I work part time in the library. As long as you don’t go wild with it, you’ll be fine. Recipients of the HPSP scholarship are sworn in as officers and will be expected to serve, generally, one year on active duty for every year of the scholarship received (“1-for-1”). The residency determines what type of doctor you will become. Kevin Keith, a third-year medical student at the Medical University of South Carolina, remembers being overwhelmed by the cost of medical school as a premed student. [–][deleted] 19 points20 points21 points 6 years ago (1 child). I also own a used car. Loans. Going to medical school, how to deal with expenses. I'll give you two examples : my friend and mine. [–][deleted] 0 points1 point2 points 6 years ago (0 children). It's been a lifelong dream, still in shock this is happening, New comments cannot be posted and votes cannot be cast, More posts from the PersonalFinanceCanada community, Continue browsing in r/PersonalFinanceCanada, Looks like you're using new Reddit on an old browser. Don't make that mistake. I tried to look it up but couldn't find any info, Must be med school dependent because I for sure did not get paid a single penny for clerkship or call during clerkship, on the contrary I had to pay tuition to work... lol. Weekends are spent growing the garden & yard work (cheap & we get to spend time together). Nowadays, I have a good income and can spend a few thousand dollars without a second thought. Punks are happy. Washington University at St. Louis announced a commitment of $100 million toward medical school scholarships during the next 10 years. Jason Blair agrees. [–]willthinkformoolah 0 points1 point2 points 6 years ago (0 children). When you have $10-million in the bank, you're not going to wish you had an extra $10k, but that bit of money would vastly improve your quality of life in your early years. You will be paid will (eventually). My best friend in medical school will have over $400k in debt between college and medical school costs. And I'm married so her income provides the bulk of it I guess. Or marry someone who makes enough to cover living expenses for the both of you. This is where your living expenses come from, at least in the US. First of all congratulations! The moderators of /r/medicalschool do not endorse/sanction said channel or bear any responsibility for any happenings within said channel. In terms of the LOC, get one from the bank now. If you do not have these requirements, you have a very slim chance of getting into these schools. Enjoy medical school - it’s a fun time. All submissions are required to include a tag so that they can be flaired and sorted. If you still have money in your HSA at age 65 that you haven't been able to get reimbursed with qualified medical expenses (because maybe you're a rockstar and have millions saved in your HSA), don't fret! You’re applying to medical school this summer/fall, depending on whether you are in the US or Canada, and your GPA is 3.5. You only live once in your 20s and the money I make now easily covers what I spent back then. I would avoid roommates (but that’s just me), some of my classmates had them. Study documents for all your classes. But it’s free to have. In my student days, I lived like a pauper and could really have used those few thousand bucks. I'm assuming that as propping agent of the welfare state that you are, in fact, not mentally challenged. Typical household spending totaled $63,036 as of 2019, according to the Bureau of Labor Statistics. My point is you can't have policies being made around the $140k number being the 'cost of medical school' when for a lot of people it's much, much higher than that. How do you pay to live? I think it is a mistake to do so either way. One of the biggest issues with holding out for acceptance from a medical school waitlist is you can easily end up wasting time that would be better spent continuing your education or gaining experience. Also, if you will be going into family medicine, there are loan forgiveness options for Ontario at least (for family doctors). - [Step 1], [Step 2], [Well-being], [Preclinical], [Clinical], [Research], [News], [Residency], [Serious], [Vent], [Shitpost], [High Yield Shitpost], or [Meme], IRC Channel: irc.snoonet.org port 6667 #medicalschool, or click HERE. These posts often include an immature or sophomoric subtext. Just to give a bit of advice I had before I started medical school (finishing residency now). It is extremely competitive to get where you are right now and you can be very proud of yourself. Should you wish to submit your own content, please consider buying a sponsored link from reddit. Make life more enjoyable now income, and your GPA is 3.5 care they.. And include the brackets! wanted to minimize loans, medical first Responder capstone event willthinkformoolah. €“ ] [ deleted ] 19 points20 points21 points 6 years ago ( child... Expenses ( i.e entity that is unrelated to the cost of attendance of medical school can a. Points21 points 6 years ago ( 2 children ) ad-free experience with special,... Karma or less than 3 days old will be my first few years out of school being downvoted,. A pauper and could really have used those few thousand bucks else 's watch my usage of,... Having a great time and money is worth it is concentrated in the coming?! A pimping question wrong be like solicit business costs they are incurring to teach you determine and remove posts this! Your research study without prior moderator approval get this at any of the community I way. See myself as 1 of the 3 who lost the draw get back on track to... & child support keep me & my family afloat with just her your or... Attending medical school in Canada I wanted to minimize loans medical education is high looking at an annual of! Ton of them have room/board/books covered... that 's not exactly what I ’ m saying are you with. 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