Loans/Scholarship/Tuition Reimbursement Questions Thread

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Passion4Sci said:
Guess you won't be buying a house any time soon, since last time I checked, here anyway, $250,000 barely gets you 1000sq.ft.
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Not me, I'm not even 30 years old. I don't plan on buying a house until I get that point where I could see having my wake in it. There's no such thing as a starter house.

Plus, I'm saving up for season tickets to the Texas Rangers. Home plate seats too!
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Hedieh Assareh said:
Tuition+ health insurance= 36,000 per year

36,000* 4= 144000

I was assuming that the cost of living would be 1500 $ month for me, the total cost of living after 4 years would be

1500*12*4= 72000

The total cost after 4 years=

144000+ 72000= 216000

I was assuming that if I would not find a job or cannot work because of the load of studying, I need to only rely on debt, which would be about 220,000 $.

I was wondering that how I can manage myself financially and I am scared now.........:scared::confused::scared::confused:
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Let me just make this decision process easy for you, if you can get into UCSF or UCSD then you should go for sure! If you can't then I would choose a different career path. UCSF and UCSD are the ONLY schools on your list worth applying/going to..might be harsh, but I am an honest person...can't help myself. :laugh:
 
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Hedieh Assareh said:
You are right Passion, but I am considering the worst case scenario...:confused:
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Well, I gotta say... If you don't get into anywhere else besides Touro this cycle, you can always contact the schools you didn't get into and ask what you can do to improve your application. That's assuming you don't want to go to Tu.

I can tell you that I work with a Touro resident at the hospital, and he's very happy about the education he got at Tu. He went through NAPLEX and CPJE great, and is now a licensed RPh and is looking at 65 bucks an hour starting. I think he'd tell you that if you want to be a pharmacist, you should take the acceptance and deal with the debt.

There is no price too large to pay for being happy with your job. SO many people work day in, day out and hate their jobs. Liking what you do is invaluable.
 
Is this a 3 yr school? If so you can justify some of the debt with by getting into the work force one year earlier. Even so, I say do it if pharmacy is your dream. If anyone has spent anytime working a real job they know pharmacy pays pretty well and there is alot of opportunity in the field. I have friends who spent 40-50k on their lib arts / business degrees to work crappy jobs that pay less than someone who went to a trade school. If they work really hard for 10 yrs at that pay they may make it into a level of employment that will be in the 65-70k range.
 
Passion4Sci said:
Well, I gotta say... If you don't get into anywhere else besides Touro this cycle, you can always contact the schools you didn't get into and ask what you can do to improve your application. That's assuming you don't want to go to Tu.

I can tell you that I work with a Touro resident at the hospital, and he's very happy about the education he got at Tu. He went through NAPLEX and CPJE great, and is now a licensed RPh and is looking at 65 bucks an hour starting. I think he'd tell you that if you want to be a pharmacist, you should take the acceptance and deal with the debt.

There is no price too large to pay for being happy with your job. SO many people work day in, day out and hate their jobs. Liking what you do is invaluable.
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Thank you so much for your reply... I agree with your point of view that nothing is comparable with job satisfaction... In my opinion, the two most important things in a persons' life are job satisfaction and family ( or relationship) satisfaction. Being a pharmacsit have been always a dream for me, and just like you, I have a friend who is going to graduat from Touro this year.... She is very happy with the program, too. Personally I love the school atmosphere...

On the other hand, I need to look at my financial situation to be able to make my dream come true... Do you know about the debt situation of your friend?
 
SHC1984 said:
Let me just make this decision process easy for you, if you can get into UCSF or UCSD then you should go for sure! If you can't then I would choose a different career path. UCSF and UCSD are the ONLY schools on your list worth applying/going to..might be harsh, but I am an honest person...can't help myself. :laugh:
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Thanks for your honest opinion, I appreciate it! :)
 
Hedieh Assareh said:
Thank you so much for your reply... I agree with your point of view that nothing is comparable with job satisfaction... In my opinion, the two most important things in a persons' life are job satisfaction and family ( or relationship) satisfaction. Being a pharmacsit have been always a dream for me, and just like you, I have a friend who is going to graduat from Touro this year.... She is very happy with the program, too. Personally I love the school atmosphere...

On the other hand, I need to look at my financial situation to be able to make my dream come true... Do you know about the debt situation of your friend?
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I discussed his loans with him on several occasions, as well as the other resident, to kind of assess where they are vs. where they want to be vs. where they wish they were. Both of them said despite loan payments >$2,000 monthly, and their resident salary ($65,000) they still have plenty of disposable income and most importantly, they love their jobs. Now that they're both licensed and looking at gaining employment at the hospital where they're currently residents, their income will just go up, leaving the loan payment an even smaller percentage of their take-home. And like I said before you just can't put a price-tag on happiness.

So, so many people would give their left kidney to be in your position - Accepted into a pharmacy school, and a good one at that.

I think $250,000 is an excessive estimate. I think $190,000 would be more accurate, and it's a more palatable number, don't you think?
 
Passion4Sci said:
I discussed his loans with him on several occasions, as well as the other resident, to kind of assess where they are vs. where they want to be vs. where they wish they were. Both of them said despite loan payments >$2,000 monthly, and their resident salary ($65,000) they still have plenty of disposable income and most importantly, they love their jobs. Now that they're both licensed and looking at gaining employment at the hospital where they're currently residents, their income will just go up, leaving the loan payment an even smaller percentage of their take-home. And like I said before you just can't put a price-tag on happiness.

So, so many people would give their left kidney to be in your position - Accepted into a pharmacy school, and a good one at that.

I think $250,000 is an excessive estimate. I think $190,000 would be more accurate, and it's a more palatable number, don't you think?
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Thanks for sharing your information, passion. You are right, I have estimated to be in debt from 170,000 $ to a maximum of 250,000 $, based on the different situations that might happen in the future... :confused:

My concerns about my financial situation does not mean that I don't appreciate what I have... I would definitely work very hard continuously to reach to my educational plans... Like everybody else in this forum, I have worked so hard so far to get into the pharmacy school... Becuase it is my dream and makes me satisfied!

But at the same time I need to make my future plans prepared... and I think the information that you shared is very valueable... :thumbup: I appreciate it and wish you the best of luck! :luck:
 
See, I factored in about 120 thousand-250 thousand....wow. You ever think about working for the government, the army, or even working at a chain during school while your an intern (every bit helps).
But it's worth it. If it your dream, don't defer it.
 
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depends on what else you could be doing? do you a have job/profession that can provide you with a good life style?

How much do you like pharmacy?
 
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I have a question about intern pharmacist. When can we work as an intern pharmacist? Does it start during our first year in pharm school? Or is it when we get into our 3rd and 4th year rotations? I just got accepted into Touro and wanted to know about the intern pharmacist's wage so I can plan out my budget and loans. I hope that during the 3rd and 4th year, we get pay since we'll be working 40 hours a week since there's no actual classes anymore. They wouldn't have us work and not pay us right? Thanks in advance.
 
cdiep13 said:
I have a question about intern pharmacist. When can we work as an intern pharmacist? Does it start during our first year in pharm school? Or is it when we get into our 3rd and 4th year rotations? I just got accepted into Touro and wanted to know about the intern pharmacist's wage so I can plan out my budget and loans. I hope that during the 3rd and 4th year, we get pay since we'll be working 40 hours a week since there's no actual classes anymore. They wouldn't have us work and not pay us right? Thanks in advance.
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Yes, during your first year, (or at the beginning rather) you apply for your state intern license, in CA anyway.

Consult your state's BoP website, I am sure it's on there.

In P1, it's $22.01, and P2 I believe is $23.30.
 
cdiep13 said:
I have a question about intern pharmacist. When can we work as an intern pharmacist? Does it start during our first year in pharm school? Or is it when we get into our 3rd and 4th year rotations? I just got accepted into Touro and wanted to know about the intern pharmacist's wage so I can plan out my budget and loans. I hope that during the 3rd and 4th year, we get pay since we'll be working 40 hours a week since there's no actual classes anymore. They wouldn't have us work and not pay us right? Thanks in advance.
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It varies by state. I think in MA you can be an intern pretty early (year one), but I know in Texas you have to be a P2.
 
Passion4Sci said:
It's $22.01 here.
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I see that you're in Sacramento, i believe the wages there are higher.

I am down here in southern California... Most of us are making 17-18 dollars at major chains such as Cvs, Rite aid, walgs...

Target, ralphs, and independents tend to pay 13.50-15...

Kaiser pays the most but it's generally 19-21 dollars..

just my 2 cents :)
 
steveysmith54 said:
I see that you're in Sacramento, i believe the wages there are higher.

I am down here in southern California... Most of us are making 17-18 dollars at major chains such as Cvs, Rite aid, walgs...

Target, ralphs, and independents tend to pay 13.50-15...

Kaiser pays the most but it's generally 19-21 dollars..

just my 2 cents :)
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From what I have heard, it's around 17-22 $/h here in bay area, too.
 
steveysmith54 said:
I see that you're in Sacramento, i believe the wages there are higher.

I am down here in southern California... Most of us are making 17-18 dollars at major chains such as Cvs, Rite aid, walgs...

Target, ralphs, and independents tend to pay 13.50-15...

Kaiser pays the most but it's generally 19-21 dollars..

just my 2 cents :)
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In all cases, $ = >0!
 
I heard that when you're doing your rotations, you don't get pay. In addition to your rotations, you have to do 1500 intern hours and those hours you do get pay. Is this correct?
 
$250k? wtf? I go to a private school and max out loans... I'll only hit $180k max on graduation, maybe $200k.

I suppose if you went to a private undergrad and didn't get any scholarships/merit aid you could conceivably end up with more...

...on a side note, i feel bad for all these people paying $30k+ for a BS/BA degrees from these random, unranked/unknown private schools that ended up doing the same/worse as someone who went to a cheaper state school.
 
man~ 250k?! It will be tough for me since I planning get myself a house by the Miami beach and a pimpin' hot Lambogihini. Gotta go to the pharmacy with style, right?
 
Heck yes! Terrible things like this is what makes our lives exciting :)!

/end sarcasm.
 
Tangojackson said:
man~ 250k?! It will be tough for me since I planning get myself a house by the Miami beach and a pimpin' hot Lambogihini. Gotta go to the pharmacy with style, right?
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Unless you work at Wal-Mart. Good luck not walking out to find your "Lambogihini" on blocks. :luck:
 
pharm B said:
Unless you work at Wal-Mart. Good luck not walking out to find your "Lambogihini" on blocks. :luck:
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D: u think CVS, walgreens are better than Wal-mart?
My pharmacy manager drives Scion :/ and other pharmacists drive Ford, toyota.... /sigh I thought all the pharmacists drive hot rides like BMW, Porsche, ect.
 
Tangojackson said:
D: u think CVS, walgreens are better than Wal-mart?
My pharmacy manager drives Scion :/ and other pharmacists drive Ford, toyota.... /sigh I thought all the pharmacists drive hot rides like BMW, Porsche, ect.
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with 250K student debt you will be hard pressed to drive a Ford! :laugh: I hope you live near the bus/train station.
 
Passion4Sci said:
They have hot rides, but they sit in the garage during the work-week.

no sense putting miles on a nice car - YOu need a Ford/Toyota for a daily driver.
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That only happens to pharmacists with <100K student debt and no kids. ;)
 
Hedieh Assareh said:
:) You are right... .
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Looks like you have already made up your mind. There is nothing wrong with going to Touro and taking out 250K, however just don't expect your lifestyle to be any better than someone making 20K a year. Expect to drive a regular used car and live in a lower middle class neighorhood or apartment. If you are doing this b/c you really reallllllly love pharmacy then that is fine, but if you are doing this for a better lifestyle then you will be very diasppointed.
 
Passion4Sci said:
Or ones with good cash savings for a big down payment.

<-----
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If you have good cash savings then you will not need to take out much student loans...which is what I say people with <100K loans. ;)
 
Passion4Sci said:
Nah, not going to use cash to pay for pharmacy school.
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if I had good cash savings I would take out all the sub loans b/c they have NO interest while I am in school and I will pay off the rest with cash. There is NO sense in taking out unsub loans and grad plus loans when you have money in the bank. Those loans have high interest rates accruing DURING school...and shouldn't be taken out unless you absolutely have to.
 
SHC1984 said:
if I had good cash savings I would take out all the sub loans b/c they have NO interest while I am in school and I will pay off the rest with cash. There is NO sense in taking out unsub loans and grad plus loans when you have money in the bank. Those loans have high interest rates accruing DURING school...and shouldn't be taken out unless you absolutely have to.
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I have a financial adviser with an MBA from Columbia advising me on this. I appreciate your expertise, but I'll defer to her, since you know, it's her job 'n all.
 
Thanks everyone for sharing your opinions.... :thumbup:. This thread seems to be a hot one! :)

Goodluck for everyone! :luck:
 
SHC1984 said:
Looks like you have already made up your mind. There is nothing wrong with going to Touro and taking out 250K, however just don't expect your lifestyle to be any better than someone making 20K a year. Expect to drive a regular used car and live in a lower middle class neighorhood or apartment. If you are doing this b/c you really reallllllly love pharmacy then that is fine, but if you are doing this for a better lifestyle then you will be very diasppointed.
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Anyways, I try to borrow as less as I can... As passion4csi said before, 250K is an excessive guess! ;)
 
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Passion4Sci said:
I have a financial adviser with an MBA from Columbia advising me on this. I appreciate your expertise, but I'll defer to her, since you know, it's her job 'n all.
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I was suppose to get my MBA/DDS from Columbia. LOL...But anyways, I am glad you can afford a personal financial adviser. Don't they charge a lot of money?
 
SHC1984 said:
I was suppose to get my MBA/DDS from Columbia. LOL...But anyways, I am glad you can afford a personal financial adviser. Don't they charge a lot of money?
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I went to undergrad with a guy who is at Columbia dental school... he started in 2008 I believe. We had a lot of the same classes together... I'll PM you his name because you probably know him. lol
 
Passion4Sci said:
Guess you won't be buying a house any time soon, since last time I checked, here anyway, $250,000 barely gets you 1000sq.ft.
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It's so sad where my parents live the average market price fell ~22% and it is still running at about $305 per square foot. I feel bad for all the people who bought homes after 2004/2005. My neighbor's parents said ^%## it and moved to Costa Rica. lol

I refuse to pay over 300,000 for a small 2/1 condo... especially an older one that doesn't have any nice upgrades like stainless steel or granite. I think I'd prefer to go to an up and coming place that is a little cheaper... but I don't know if I could ever live someone in the middle of nowhere. Like a one stop light town with no McDonalds. McDonalds are everywhere... even if you hate fast food... if there is no McDonalds then you know you are probably far from everything else. lol
 
Hedieh Assareh said:
:scared::scared::scared::scared::scared::scared:

I really don't know...

Please share your ideas!
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There are loan repayment plans that can help out with student loans. A lot of companies have sign on bonuses and some rural areas will help repay your loans if you agree to work in the area for x number of years. Getting in to school should be the hard part, work hard and be thrifty after school and you will be out of the red and living a very comfortable life in no time.
 
joh0472 said:
There are loan repayment plans that can help out with student loans. A lot of companies have sign on bonuses and some rural areas will help repay your loans if you agree to work in the area for x number of years. Getting in to school should be the hard part, work hard and be thrifty after school and you will be out of the red and living a very comfortable life in no time.
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Thanks for the information.... What companies pay for the education and how can I seal a contarct?
 
What are the options for paying for Pharm school? Is it possible to work at all while going? From people I've talked to, most got loans to get through school.

Thanks!
 
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