Financial Questions

[southern belle]

I've been pouring over posts for what feels like a million hours, and finally, I've decided that I really want to go to SGU! I've looked at rankings, match statistics, everything. I like to be extremely well informed. The only problem I have found is the cost of tuition.. My parents and I long ago decided that I would totally independent when it came to financing medical school. Other than like $5,000 or so that I have and whatever my parents guilt trip themselves into giving me, I'm going to be taking it all out in loans. After realizing that tuition alone is almost $200,000, does that mean I will be paying back student loans until I die?! I'm just really worried about that. I know that being a doctor will make it much easier and most people say not to worry, but I'm still worrying... I haven't really seen much on scholarships there, and seeing as to how my GPA is only 3.45c/3.3sci, I'm sure that other people are much more qualified for them than me. Should I just suck it up and try to spend as little as possible for four years? Also, what kind of interest rates can I get? I'm sure my parents will co-sign. They better... :)

[nisser]

I think most loans are ~prime which is very reasonable now. But the interest rates are surely going to increase because at the moment inflation is running out of control.

[cavalletti]

... I haven't really seen much on scholarships there, and seeing as to how my GPA is only 3.45c/3.3sci, I'm sure that other people are much more qualified for them than me. :)

Not all scholarships are merit based, some are based on need. Here's a link Financial Services - St. George’s University (http://www.sgu.edu/website/sguwebsite.nsf/financial-services/som-scholarships.html)

Many students depend on loans. You won't be the only one.

[EpiJunky]

Trust me, there are a decent number of students, like myself, who will have not only med loans to pay off but undergrad as well...

Thankfully, as a doctor, you should be able make a decent salary that will pay off these loans - but its important to remember that it wont be overnight, let alone in 2-3 years (if all your funding is coming from loans). This kind of debt, unless you're living really frugally, takes some time to pay off.

But, its doable.

[BSeay-MPH]

Another thing to take into consideration is the American Health Setrvices Corp. I have looked into this and if you work in a Medically Underserved Area (MUA) for a set amount of years they not only pay your salary but also help you pay back your loans. I think the amount for GA where I am from was $25,000 a year. I am sure there are areas that this would apply in Louisiana, if that is where you want to practice.