Getting the Deposit $$

[SuzieQ]

I have recently been accepted to medical school - yea! - now where should I get the money for the deposit? I know I should've thought about this a little sooner (and perhaps saved for it), but I wouldn't let myself get that hopeful. I know I can always borrow from my parents, but I want that only as a last ditch effort. Please let me know where the average student gets their deposit money!

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[H0mersimps0n]

I saved all last spring so I could purchase a car last summer. Needless to say the application process put a hold on that idea. So far the process has cost me a springs worth of savings for the downpayment on a car...

in the grand scheme of things its probably nothing. The sacrifice can't be compared, no regrets at all (naturally)... still it just sucks..

god bless anyone who does this with a family, you are all saints! I can't imagine...

 

[Doctor Peloncito]

Originally posted by SuzieQ
I have recently been accepted to medical school - yea! - now where should I get the money for the deposit? I know I should've thought about this a little sooner (and perhaps saved for it), but I wouldn't let myself get that hopeful. I know I can always borrow from my parents, but I want that only as a last ditch effort. Please let me know where the average student gets their deposit money!

I don't know about the average student, but for me, CREDIT CARD! I hate to rack up more debt, but almost all of my application costs were put on the credit card. So what's another two grand

Russell

 

[Bmblee888]

For the deposit I've just been taking out about $300-$350 a month from my paycheck and putting it into my savings. I just sent in my first deposit for Western. Now time to save up for the next $1000 for March. I've got a budget so tight that I probably live off of $50 a week (food and misc.) Sigh....Life of a pre-med.

 

[maysqrd]

If you can borrow it from your parents and not have to put it onto a credit card then I would do this. Reason being that when you get your student loan money for your tuition next year it is going include the money that you have already paid to the school, so you will in essence get this money back and you may repay your parents with it so that you won't have to owe it to them for very long. Why this over credit card??? Most DO schools are very expensive and you will need private lender student loans to cover some of the cost. They will slam you on the interest rates if you are carrying consumer debt. I know one student that only owed $250 on a credit card and they said that it was too much and hit him 1/4 point on his interest rate. So you end up robbing peter to pay paul in interest if you intend to pay off that credit card debt with your student loan reimbursement and you will most likely be able to get the money interest free from parents!!