total cost of med school

[coco]

Can someone give me the estimated grand total for the entire time a med student spends at Ross? If I remember correctly...someone on the forum mentioned that after finishining at Ross...he had accumulated a total of somewhere at around 300 thousand dollars in student loans...true?

[MitchDC]

With tuition, living expenses, food, travel and everything else, the most you could spend is around 200,000.

-M

[mdwanabe]

MichDC,

From your experience, do you know if students can borrow up to that much? If yes, then do most students borrow that much? Thanks

[MitchDC]

Yes, most students borrow about AROUND that amount. They don't spend all that money but take it just in case. About $17,000 per semester (everything included).

MitchDC

[stateofequilibrium]

And how long does it usually take to pay back your loans?

Robbing a bank to pay for medschool probably wouldn't be a great idea I take it :-\

[MitchDC]

I'm sure the time it takes to pay off those loans is different for everybody. But you have 20-25 years to do so if you REALLY need that long. Also remember that if you take 20 years, you are almost doubling the amount you borrowed. OUCH.

[CountMacula]

The rates are pretty good. I might as well max out my loans, at least for now. Too bad they are variable. If they were fixed this low for the next 10 years that would have been sweeeeet. I have mutual funds but I expect them to appreciate faster than my loan rates. So later after those two pass parity I'll just sell the funds to pay off the loans. Assuming a 10 year horizon.

[jim]

i finished with 227,000. that is with only one undergrad loan for only 900 bucks. the expenses you have jumpo greatly when you hit the states, especially when its time to go on interviews. I am currently consolidating at 3.42%. and will pay for 15 years. I am one of the lowest from my class, but most had undergrad loans to tack on to the list.

[singer]

do you mean the expenses of going for clinical or residency interviews?

[jim]

clinicals have no interviews. i am talking about residncy. as i had no geographic prefernce, and instead applied to good programs all over the place, i ended up traveling more in 2 months then the entire part of my life prior. i spent ALOT for this. fortuanetly, at the interviews, they pay for the hotels and all the food. awesome food and hotels too!! ever have a $30 steak? i did, and i didnt have to pay for it!!!! :lol: but in the end, i still paid (when including application fees) about 10 grand.