Attending Medical School with Undergrad Loans

[premedstudent395]

Hello

I'm currently a high school senior, and i'm planning to study at my in-state school. The school has a pretty good rep for pre-med kids, but unfortunately, even with state and fed aid I will need to take out student loans. It'll be around the average amount.

I was wondering if it was normal (or even do-able) for pre-med kids to go to med school and take out even more loans when they already have some for undergrad. If they do, what happens to the loans they already have?

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[HomeSkool]

Yes, it's very common. Student loans are non-dischargeable, which means they do not get erased if you declare bankruptcy. However, they can be put in deferral or forbearance, which are similar situations in which you don't have to make payments while you're still in school. I wrote a financial guide a while back that I encourage you to read. It's specifically for medical school, but a lot of the principles also apply to undergrad. HomeSkool's Guide to Financing Your Medical Education

 

[willow84]

They all pile up into one big, scary number. If it's any consolation to you, I have loans from undergrad, graduate school, and a post-bacc program... and I start med school in the fall. It is what it is, really.

 

[premedstudent395]

Thank you! I'll check out your guide, I need all the advice I can get

 

[premedstudent395]

They all pile up into one big, scary number. If it's any consolation to you, I have loans from undergrad, graduate school, and a post-bacc program... and I start med school in the fall. It is what it is, really.

that does sound pretty scary, but if you can do it so can I

I don't know. My parents are freaking out right now, but I *need* the loan to get an education, so...I guess i'll just be a very poor doctor

 

[ciestar]

I had 50k in loans from UG going into medical school. It sucks but if this is what you want you go with it

 

[Forever Geebs]

It’s not a problem. I commend you for thinking ahead but I wouldn’t worry as much about med school loans and debt quite yet. In undergrad you can always work, apply for scholarships, etc. to help offset debt incurred, so that’s something to keep in mind.


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[premedstudent395]

This is a relief to hear. Though I know loans aren't good to have, my parents have been telling me that if I got loans it'd be the end of the world...

I guess I'll just keep looking for scholarships and do my best

 

[Forever Geebs]

This is a relief to hear. Though I know loans aren't good to have, my parents have been telling me that if I got loans it'd be the end of the world...

I guess I'll just keep looking for scholarships and do my best

This country hasn’t racked up trillions in student loan debt if students didn’t borrow. Just be smart about the funds and how you use them. This matters much less now as it will while in med school.

Best of luck to you during undergrad.


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[icedude2010]

Checking in... also lots of student loans.

Can’t wait to pay it all off after residency...