Med School with Children

[ladymoreta]

ST - we had to submit DH's parents' income info when we were there, but maybe they changed the rules? With their income and mine, they estimated a very large family contribution. Of course, his family didn't contribute any, so we did end up taking out some loans to help. I still consider our total very small, and we don't have undergrad loans, so I can't complain.

[TulipsAndSunscreen]

Sometimes that isnt an option, especially if you're from a state with only one medical school which is worse than if your from a state with none. Just sayin'.


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Ok, there are exceptions but a lot of states (notably Idaho and Wyoming) have deals with other states in the case of no med schools/law schools, etc. (California in the example I gave). Don't know about Utah. Nonetheless, you can become an in-state resident before you apply in some cases (and during school in others). My brother is living in Colorado for 2 years before applying to qualify for in-state tuition.

[Vanquisher]

Ok, there are exceptions but a lot of states (notably Idaho and Wyoming) have deals with other states in the case of no med schools/law schools, etc. (California in the example I gave). Don't know about Utah. Nonetheless, you can become an in-state resident before you apply in some cases (and during school in others). My brother is living in Colorado for 2 years before applying to qualify for in-state tuition.

IMO that is not a super great idea. There is no guarantee he'll get in at Colorado. Furthermore, that's two lost years of likely six-figure earning potential on the other side. Sometimes you just go where you get in.

[SoonerTexan]

Weird. I know someone else doing the same thing. As I understand it, Colorado is very competitive too...correct me if I'm wrong Crystal. This particular person seems picky about where she attends and I'm not sure it is going to work out in her favor.

[TulipsAndSunscreen]

IMO that is not a super great idea. There is no guarantee he'll get in at Colorado. Furthermore, that's two lost years of likely six-figure earning potential on the other side. Sometimes you just go where you get in.

He did not ask my opinion prior to doing this. No, there are no guarantees. But my brother is doing a post-bac there and doing research, so I think he has a shot. He doesn't care about the earning potential, he doesn't want the debt because his GF will also be going to vet school there. Plus, it's where he wants to live so it is what it is.

And trust me, I know all about going where you got in...it's why DH is at a private school instead of his state school. I'm just saying, don't scorn your state med school! A lot of people think private schools are awesome and don't consider the cost as a key driver of choice. Sitting where I'm sitting now, I would have pushed DH harder to try and get into his state school (he had favors he probably could have called in but didn't).

[scrub-jay]

Weird. I know someone else doing the same thing. As I understand it, Colorado is very competitive too...correct me if I'm wrong Crystal. This particular person seems picky about where she attends and I'm not sure it is going to work out in her favor.

CO is competitive, I think it is ranked #4 for primary care. It does not offer much in the way of scholarships and it is RIDICULOUSLY expensive if you are out of state. Applying to medicine is a crapshoot, you can never be sure what someone is looking for on the application, secondary or interview. Luckily, I think DH found the school that was the best fit for him and mostly because he was *himself* on the essays/interview. I would remind anyone to not be picky about medicine, most of our spouses expected they would get in somewhere *for sure* and then never even gotten an interview/acceptance. I'm glad we sent applications wide and really happy that DH found a school that fits his personality so well.

[hedixo01]

The vast vast majority of DH's classmates came from alot of money. Houses and brand new foreign luxury cars were bought for them at the start of med. school. The avg. parental income just for the undergrads at this state school is $200,000. There were times when we literally had a $100 maybe in the bank waiting for loans to come through. DH received no money from his very well off father.

And with deferment no longer allowed, we are in IBR for residency. DH wasn't willing to accrue debt in interest for our cost of living loans.

DH has been supporting himself since graduating high school. And before that he paid for everything but room and board and food. I hate when kids like that have it so easy. I can see helping your kids out a little, but why must they allow them to live in the lap of luxury?

And our two state schools are looking nicer than ever. Especially because we have family here.

[Chrisada]

I actually don't mind it. I think medical school is enough of a struggle without having to worry about money, so honestly, more power to them if they don't have to worry about that crap.

[corn poffi]

I am a bit biased, since I am reaping the benefits of my family's and my BF's family's generosity, as both our schooling was paid for, so I'm going to play devil's advocate. If a family can afford it, why make their child go into thousands of dollars of debt for their education? Given, we both had jobs in high school and undergrad, and had to buy our own cars, help pay rent, etc., so we still know the value of a dollar. My parents always thought the best gift they could give me was to let me begin my adult life debt-free, and I'm not sure it's fair to group all of the people who don't have education debt into a "lap of luxury" group...believe me, my life is not luxurious!

[MissCrabette]

I'm not sure it's fair to group all of the people who don't have education debt into a "lap of luxury" group...believe me, my life is not luxurious!

I don't think anyone here was grouping everyone. Chrisada gave some very specific examples that can only be labeled as living in the lap of luxury, and Heather simply agreed with her and referred to "kids like that." It's not easy seeing people living it up while you're waiting for loan money. In the end, it all comes down to your priorities in life because the people living it up aren't always the ones getting a free ride from mommy and daddy. Often they are the ones going deeply into debt and paying dearly for it later.

For the record, I am incredibly grateful to my parents for doing everything they could so that I would graduate with as little debt as possible.

[ladymoreta]

If DH's parents had the money to pay for his school, we'd have taken it in a heartbeat! They did let us use their gas cards during medical school, which helped a lot! (And I didn't hesitate to use it!)

[poky]

Yeah, there's a LOT of space in-between "living on loans and racking up tons of debt" and "mommy and daddy bought me a house to live in and a new car to drive". Out of the 30-some in DH's class, I'd say there are only 3-4 who fall into the latter category. There are probably more who have spouses or SOs who work (like us), and I know quite a few who are living completely on loans. Seems to be a decent mix, and of the ones who have everything given to them, only one is actually obnoxious about it. The others are very low-key about it, no flaunting or living it up.

[TulipsAndSunscreen]

Yeah, there's a LOT of space in-between "living on loans and racking up tons of debt" and "mommy and daddy bought me a house to live in and a new car to drive". Out of the 30-some in DH's class, I'd say there are only 3-4 who fall into the latter category. There are probably more who have spouses or SOs who work (like us), and I know quite a few who are living completely on loans. Seems to be a decent mix, and of the ones who have everything given to them, only one is actually obnoxious about it. The others are very low-key about it, no flaunting or living it up.

Yes, I will say that most of DH's classmates who are living on their parents at least have the grace to acknowledge their good fortune (many are almost sheepish). Only a few flaunt it and it's very distasteful. So you're right, I'm really just totally jealous and wouldn't have turned it down in a heartbeat.

[cylverdust]

We have two children and live on loans alone. We can't afford childcare.. It works out to be just as much or more than I would make AND someone else is watching our girls. That said. The money we get is very little for a family of 4. We live extremely thinly. We don't eat out, EVER. We don't buy what we don't absolutely need. I make all the gifts we give. If I can't make it, then we can't give it. We don't travel much due to gas being expensive. It is sometimes tough. The rewards are greater though IMO. I love staying with my girls. I am here when hubby actually has time off. So.....

Hi!
My husband is in his third year. We have two kids. Each semester, we've averaged getting 10k over cost of tuition. I work part-time to supplement. I am finding that I need to be more available and work less in the third year. Loans av about 650 a week. We have been getting about 5k for the summer.
Hope this helps!
Shannon