Money Matters! Ross and it's Costs!

[c14elia]

I figured it'd be great to have one place to discuss all the different costs that all students should account for when doing numbers --

What have other students felt they needed for costs of living and learning... and maybe we can break it down too.:p

[rockjock2010]

Ill get us started here. This was my budget - I tend to care less about accomodations (was in the middle range for rent) and more on creature comforts (coffee from bookstore each day, american beer, ect)

Plane ticket from California - 950$ round trip (never fly Liat by the way)
Rent - 550$
Electricity - about 25$ a month if I run the ac every so often
Books-about 125$ a semester - to new students DO NOT buy your books from the bookstore unless you MUST have new ones. the ones you can buy off of students durring week one should be fine. Also the list of "required" reading is just what the teachers say is required. If a book had more than 200 pgs I didn't use it except to hold up my fan.
Your ICM gear - you need a stethascope and BP cuff in your 1st sem (maybe) and the tunning forks ect for 3rd and 4th. Dont buy the opthamoscope/otoscope that the bookstore recomends. Ask your family doc/other students what they recommend and get them. 100$ more now will keep you from getting to 5th and being told that your set is garbage and that you need to rebuy.
Food/Drink - dont know exactly, but my estemate is on expensive. If you mesh with the island and it's inhabitants you can eat good organic food for cheap. When that runs out circa late 2nd semester and you start wanting a taste of home it gets expensive. Can of chili 3$, soda can about 1.50, coffee from bookstore 2.50$ bottle of burboun - dont worry about it go study :)
5th is expensive also- you need to get immunizations/titers for about 75$, pay for the step 700$, ACLS/BCLS 275$ not to mention a prep course for the step (not taking one, but they are pretty expensive I think).
PS you might be budgeting your 5th semester refund check for a normal semester, but dont forget that most of us are extending our semester by 2 months to study for the Step - you need to factor that in.
Im stopping now simply due to how long this entry is. PM me if you would like more info, or if it a simple question just throw it out there and some one else will jump on it

[FRNC]

My kid graduated May 2006.

Total cost including trips home: $210,000

[jabee_usm]

This thread: $ Priceless! :D:D:D I had to say that!

[c14elia]

HAHAHA well played!

[TXMD2B]

Well put you didn’t leave much out. Thanks

Do most go home after each term or stay there because it is such a short break? I have a feeling that everyone in my family will want to vacation where they can stay for free…

[islandthrift]

Well put you didn’t leave much out. Thanks

Do most go home after each term or stay there because it is such a short break? I have a feeling that everyone in my family will want to vacation where they can stay for free…

Most students go home after the semester. Unless your family is crazy about nature, you may want to vacation with them on another island.

[SemTuv]

[FONT=Arial]Do most go home after each term or stay there because it is such a short break? I have a feeling that everyone in my family will want to vacation where they can stay for free…
As this moment will come, you will politely disagree to your extended staying on the island

[TXMD2B]

Thanks for your reply. I understand what you mean. I lived in Korea on the DMZ while in the Army and we had some of the comforts of home, but it was nice to get out of there.

[911Med]

Can someone shed a bit of light on how the $210,000 is broken down i.e. via loans etc. I need to make this as easily digestible (read persuasive) that my parents should co-sign for any loans that I don't get. How much farther does one extend themselves post school Federal loans?

[islandthrift]

Can someone shed a bit of light on how the $210,000 is broken down i.e. via loans etc. I need to make this as easily digestible (read persuasive) that my parents should co-sign for any loans that I don't get. How much farther does one extend themselves post school Federal loans?

If you take out the max amount of loans each semester it is $23,000 a semester for the 3 types of federal loans, subsidized, unsubsidized, and grad plus.

[911Med]

Do those loans need a co-signor?

[Gator98MD]

This is a fairly accurate estimate. I graduated 3 years ago and I am about $210-220 K in debt with loans (private/gov't).

My kid graduated May 2006.

Total cost including trips home: $210,000

[islandthrift]

Do those loans need a co-signor?

Check with financial aid but I believe since they are based on need and not credit, that they you won't need a cosigner. The only one you may is for the grad plus if your have a low credit score but again, check with financial aid to be 100% sure about that.

[x1433]

Currently sitting at $167,000 (not including interest) with only one semester left to pay. Will probably have taken out $185,000 in loans when I finish in November.

[jim]

take it from an old timer. avoid spending a cent. DONT go home on breaks, go to the other islands for a few days(not the whole break!!). get cheap rent, buy cheap everything. i finished a few years back at $200,000. now paying $1600+ a month for loans. not much when you look at my check, but it is my largest bill after my mortgage. i wish i had not lived so well down there.

[671M.D.]

take it from an old timer. avoid spending a cent. DONT go home on breaks, go to the other islands for a few days(not the whole break!!). get cheap rent, buy cheap everything. i finished a few years back at $200,000. now paying $1600+ a month for loans. not much when you look at my check, but it is my largest bill after my mortgage. i wish i had not lived so well down there.

Wow!

I was thinking of pulling out the whole 230K to pay for the school and living! But now I'm not so sure....1,600K a month! Maybe I'll just live on instant noodles or something.

[singer]

There is opne thing that seems to be missing when you talk about the payback of loans. Everyone of you also had four years of undergraduate school. Unless you went to your state subsidized schools, as my sons did, you could easily have well overanother $100,000 of loans to pay off after Medical school.