NEED ADVICE

[PA1day313]

I recently was accepted to a PA program that costs 100,000 dollars for two years.  I am terrified at the idea of the expense, but am left with going to that school or reapplying next year, with no guarantee that I will get in.  My gut is to go where I was accepted, I am so grateful, I just want to be comfortable with my choice. Thoughts?  

[loliz]

Things that make a difference in this decision:

-- do you have student loans from undergrad?

-- will you be borrowing all of the money to cover tuition?

-- will you be borrowing money to live on also? 

-- is anyone helping you? And if so- does helping you mean that they are putting themselves into debt or they have money set aside for you?

-- does the school have any scholarships or grants available? Ask them- they will not tell you upfront. 

[corpsman89]

NHSC scholarship? VA PA scholarship?

[hustleforthePAC]

Another cycle means another year of lost income

 

 

Sent from my iPhone using Tapatalk

[PA1day313]

Things that make a difference in this decision:

-- do you have student loans from undergrad?

-- will you be borrowing all of the money to cover tuition?

-- will you be borrowing money to live on also? 

-- is anyone helping you? And if so- does helping you mean that they are putting themselves into debt or they have money set aside for you?

-- does the school have any scholarships or grants available? Ask them- they will not tell you upfront. 

 

-- I do have student loans from undergrad that are minimal.  I will be borrowing a large majority of the money to cover tuition but not to live on.  I have very little assistance.  

[MT2PA]

Is the $100k just tuition?  That means about $50k per year?  That's pretty average for out-of-state and/or private universities.  You join hundreds if not thousands of other PA students who are paying the same.

 

If you're going to walk away from an acceptance to try again next year I have to wonder - why did you even apply in the first place if you consider the cost prohibitive?

 

There's never a guarantee of getting in next year.

 

Let this be a warning to other potential applicants reading this thread:  don't apply to a program if you wouldn't attend - whether that be financial reasons, location, length of program, whatever.  Don't waste your money applying/interviewing if ultimately you decide you would rather REAPPLY than go there.

[PA1day313]

Is the $100k just tuition?  That means about $50k per year?  That's pretty average for out-of-state and/or private universities.  You join hundreds if not thousands of other PA students who are paying the same.

 

If you're going to walk away from an acceptance to try again next year I have to wonder - why did you even apply in the first place if you consider the cost prohibitive?

 

There's never a guarantee of getting in next year.

 

Let this be a warning to other potential applicants reading this thread:  don't apply to a program if you wouldn't attend - whether that be financial reasons, location, length of program, whatever.  Don't waste your money applying/interviewing if ultimately you decide you would rather REAPPLY than go there.

 

When I applied, I applied to many schools, hoping that I would get into one.  I disagree, apply to those schools that are contenders and then decide from the ones you are accepted to. You make a great point that it is pretty average, that is all I wanted to know.  I am happy to say that I will be attending the university we are talking about in the fall.  

[Boatswain2PA]

What I wanted was an honest response not a lecture....

Perhaps take that $100K to a dermatologist and ask for a little thicker skin.  If you think THAT was a "lecture", you're gonna need thicker skin if you want to practice medicine.

[PA1day313]

Perhaps take that $100K to a dermatologist and ask for a little thicker skin.  If you think THAT was a "lecture", you're gonna need thicker skin if you want to practice medicine.

 

Thanks for your opinion.  Like I said before all I wanted to know is if that price is comparable to other schools.  

[Boatswain2PA]

The last word of your original post was: "Thoughts?"

 

That means you were asking for people's thoughts.

 

Then you got butt-hurt.

[loliz]

You didn't actually ask if the price was comparable... if that is your question, then --- no!! $100K is REALLY expensive!!

However, I did not get the impression that this is what you were initially asking. 

 

$100K is a lot of money. By the time you graduate, your loans will amount to something like $115K with interest. This is assuming that you do not borrow anything for living expenses. I have friends that thought they had saved money to live on, but being in school is more expensive than you think. Books, equipment, professional clothing, course fees, activity fees, car repairs, car insurance, health insurance, copays, gas money to travel to rotations- or even worse, rent to go to away rotations, etc. Err on the side of caution and assume that you will borrow for some part of living expenses. To put it into perspective, paying off $100K is about $1350/month for ten years. While that is a doable payment, it hinders other things in your life. I find myself postponing purchase of a home or fully funding retirement or savings because I would rather pay this beast of a loan and as long as I have it hanging over my head, I wouldn't qualify for the house I want anyway. I considered a school with this pricetag,  I canceled my interview at the last minute (before I was accepted anywhere else) when I really thought about what this price tag would mean for my future. For me, it wasn't worth it. 

[PA1day313]

The last word of your original post was: "Thoughts?"

 

That means you were asking for people's thoughts.

 

Then you got butt-hurt.

 

Thanks.  I appreciate your input.  

[PA1day313]

You didn't actually ask if the price was comparable... if that is your question, then --- no!! $100K is REALLY expensive!!

However, I did not get the impression that this is what you were initially asking. 

 

$100K is a lot of money. By the time you graduate, your loans will amount to something like $115K with interest. This is assuming that you do not borrow anything for living expenses. I have friends that thought they had saved money to live on, but being in school is more expensive than you think. Books, equipment, professional clothing, course fees, activity fees, car repairs, car insurance, health insurance, copays, gas money to travel to rotations- or even worse, rent to go to away rotations, etc. Err on the side of caution and assume that you will borrow for some part of living expenses. To put it into perspective, paying off $100K is about $1350/month for ten years. While that is a doable payment, it hinders other things in your life. I find myself postponing purchase of a home or fully funding retirement or savings because I would rather pay this beast of a loan and as long as I have it hanging over my head, I wouldn't qualify for the house I want anyway. I considered a school with this pricetag,  I canceled my interview at the last minute (before I was accepted anywhere else) when I really thought about what this price tag would mean for my future. For me, it wasn't worth it. 

 

Thank you loliz.  I now understand that I just needed to be more clear.  Thanks for your thorough response without being rude and judgmental!

[RobShultz]

Try to find out a financial consultant!