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How did you manage to sucessfully undertake not only time? But also budget yourself to pay for school?

# college #medicine #anesthesiologist #doctor #premed

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Hwal’s Answer

Yasmine,


I'm a non-traditional student who worked professionally for a few years before I could start undergraduate study properly. This helped me save for future education. For my undergraduate study, I also used the Federal Student Aid. Completing FAFSA every year is very important for this reason, by the way. As a graduate student, I have received a federal scholarship which helps with almost all financial responsibilities while I'm focusing on my study.


If you're wondering how to prepare and pay for education, a good first place to start might be the financial aid office of any school/college that you're interested in attending. Almost always, you could get information on budgeting tips as well as loan and scholarship applications. I hope this helps.


Good luck!


Hwal
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Richard’s Answer

If you can keep your expenses down (live with parents, attend community college which can be free in some cities, complete your degree at an inexpensive public institution etc) debt doesn't have to be out of control. However the typical student does not do everything they can to decrease expenses then has to be stressed during their first years of practice.
Another unfortunate consequence of debt is limiting the student's choices after graduation. If a student has a passion for pediatrics, but crippling debt, they may be forced to apply to residencies with higher future earning potential.
A typical experience would be to complete residency and become an employee of a group. You aren't able to pay down your debt much because you are saving to become a partner. You buy into the group and then start making partnership money. That's when you are able to really tackle that debt.
Typically you are looking at 10-15 years to pay back your student debt.
On a side note, watch this video which compares a UPS driver to a physician. It makes a lot of assumptions about debt and saving/investment, but concludes that the average primary care physician doesn't become financially better off than a driver until age 53. https://www.youtube.com/watch?v=2503XQU1feE\
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