Hello All the OPM’s out there…just wanted to know what would be the cost of pursuing a medical career…i read few blogs and browsed the internet and looks like around 230-250k.This is with the post bac+med school tuition+text books+living expenses…Is that the rough figure I can expect or there additional costs etc…I live in California…just need a rough estimate…gives much ease in planning…
Totally depends on where you attend and your residency. Without any additional scholarships, it looks like the cost of attendance for UCSF (tuition, books, fees, living expenses) averages to just under $70k/year. Their 9-mo long post-bacc program has a COA of about $40k. So, UCSF will run you about $320k for 5 years. (https://finaid.ucsf.edu/newly-admitted-students/cost-attendance) Theoretically, a single student with no other debt can survive on the allowed living expenses. You should be able to get loans up to the full COA.
This doesn’t cover the cost of studying for and taking the MCAT, which can be upwards of $2500 if you take a formal course. Applying to schools can run you into the low-mid thousands depending on the number of interviews you attend (airfare, hotel, transportation, food, applications).
It’s not cheap, but at least the federal loans will defer payments until after you finish med school.
The hitch I ran into with Post Bacc was that it was Sallie Mae, or private lender only, and based on your credit score. Federal Loans will not pay for a NON-degree bearing program. My credit score had been ravaged by a bad divorce, and 5 years of major medical expenses. Sallie Mae would not BUDGE, even though I had fully paid off over $65,000.00 to them for previous loans. I had to fall back and matriculate in a degree bearing program to get schooling paid for. I also am working 3 part time jobs, which I juggle, in an effort to cover living expenses.
Wait, you couldn’t get Stafford loans for a post-bac? Is that because you had maxed out previously? I got Stafford (undergrad) loans for my post-bac and did have to supplement with my state’s loan program, which is credit based and was unavailable to me the second year because I no longer had a job.