Everything about finance/money

[deleted390966]

Reading around the forum, I saw several people saying that going abroad to study Medicine doesn't make sense financially. But

1/ The most expensive tuition I've seen so far in the UK is 32k pounds (~$42k).
American tuition is pretty much on that scale, if not more. I know at least 2 US schools that costs $88k/year (total cost of attendance).
So it doesn't make a difference which country I study Medicine in to me. Am I missing something?

2/ Does the US lend me federal loans to study in the UK? I know that there is no limit of loans that med students can take out in the US, but how much can I take out overseas?

3/ Also, if I marry my EU finance and get EU citizenship, can I get lower tuition in the UK and/or Ireland? Can I get student financial aid from the UK?

4/ Since coming back to the US is a hassle, I'd think of staying in the EU... If I go to a med school in Ireland, will there be difficulties in getting an internship or license in the UK (e.g., Scotland) later?

5/ Will I have to relinquish US citizenship if I join EU citizenship?

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[sassa]

Reading around the forum, I saw several people saying that going abroad to study Medicine doesn't make sense financially. But

The most expensive tuition I've seen so far in the UK is 32k pounds (~$42k).
American tuition is pretty much on that scale, if not more. I know at least 2 US schools that costs $88k/year (total cost of attendance).
So it doesn't make a difference which country I study Medicine in to me. Am I missing something?

Also, if I marry my EU finance and get EU citizenship, can I get lower tuition in the UK and/or Ireland?

Third, since coming back to the US is a hassle, I'd prefer staying in the EU... If I go to a med school in Ireland, will there be difficulties in getting an internship or license in the UK (e.g., Scotland) later?

Will I have to relinquish US citizenship if I join EU citizenship?

Cost may be similar. Risk is greater if you do not have EU citizenship.

No, if you get EU citizenship, you have to reside in the EU for more than 183 days a year for minimum 3 years to qualify for EU fees. You will still have to apply through the North American Atlantic Bridge Program with non-EU fees (Someone can correct me if I'm wrong, I'm study brain dead at the moment, but that was my understanding. Can't have it both ways).

With EU citizenship, you can apply for Irish intern year and also Foundation Years in the UK.

No clue about US citizenship, as I'm Canadian and have no idea how you guys work on that front

 

[Vicex]

5/ Will I have to relinquish US citizenship if I join EU citizenship?

Generally, no. You'd have to identify rules for whichever country is awarding you citizenship.

As for Irish/US citizenship, neither country has a problem with you being a duel-national. However, if you plan on living in Ireland, it does not make much fiscal sense to retain US citizenship as you'd be paying taxes to the US (and your state of residence) on top of taxes in whatever EU country you reside and work in (and doctors in the EU don't make as much as their US counterparts... making that even less viable).

 

[Medstart108]

Reading around the forum, I saw several people saying that going abroad to study Medicine doesn't make sense financially. But

1/ The most expensive tuition I've seen so far in the UK is 32k pounds (~$42k).
American tuition is pretty much on that scale, if not more. I know at least 2 US schools that costs $88k/year (total cost of attendance).
So it doesn't make a difference which country I study Medicine in to me. Am I missing something?

2/ Does the US lend me federal loans to study in the UK? I know that there is no limit of loans that med students can take out in the US, but how much can I take out overseas?

3/ Also, if I marry my EU finance and get EU citizenship, can I get lower tuition in the UK and/or Ireland? Can I get student financial aid from the UK?

4/ Since coming back to the US is a hassle, I'd think of staying in the EU... If I go to a med school in Ireland, will there be difficulties in getting an internship or license in the UK (e.g., Scotland) later?

5/ Will I have to relinquish US citizenship if I join EU citizenship?

1. You aren't, however there is UK tuition that is higher than that
2. I think so, but you need to check, I don't know
3. No you can't, once you are in the program your fees are locked in. If you marry a EU citizen you can be a EU student when applying for residency but you don't get any real rights from the UK either. I believe you get the citizenship of your fiance if i'm correct? So if they are a UK citizen you become a UK citizen
4. There won't be difficulties if you are an EU citizen for sure. If you aren't, you might be able to even but its not as likely, probably more likely to get internship in Ireland
5. I don't think so.

 

[deleted390966]

However, if you plan on living in Ireland, it does not make much fiscal sense to retain US citizenship as you'd be paying taxes to the US (and your state of residence) on top of taxes in whatever EU country you reside and work in (and doctors in the EU don't make as much as their US counterparts... making that even less viable).

Yeah, I know of this tax law. And student loans, too. But overseas US citizens will only pay US taxes when their income exceeds $90,000. Is that right?

 

[Vicex]

Yeah, I know of this tax law. And student loans, too. But overseas US citizens will only pay US taxes when their income exceeds $90,000. Is that right?

You have to file a return for anything over $7,000. How much you owe depends on the country you live in and if there have certain agreements with the U.S.

 

[deleted390966]

You have to file a return for anything over $7,000.

Oh so each EU country has different contract with the US then... The $90k limit - AFAIK - is for Germany.