To live at home or to not (for medical school)?

[dope.uh.mean]

I've been blessed with a couple acceptances, including one of my top choices that literally only a 15 minute drive from my home. However, I was thinking about living on campus for at least the first year as opposed to living at home with my parents and my younger sister. My relationship with my family is good, but I think I would need space from them at least for the first year of medical school. I think it would also be good to be around and socialize with other people who are also experiencing this new chapter in our lives!

My only qualm is the rent (~$1500/month), but the living situation is good. I get my own bedroom and bathroom in an apartment with 3 other people, it's on campus, walking distance from classes and hospitals. So for a year, I'd be taking out ~$18,000 in loans to pay for housing. Is this worth it? I do plan on going into academia, so I'd go for PSLF, but should I still be worried over the loans I'll be taking out enough to just live at home instead? For context, I'm first-gen and low-middle SES, so my parents aren't able to support me financially on this.

Any advice would help, thanks!

Edit: Tuition + fees at this school is like~$72k oop (take a wild guess)

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[MrPuff]

$18,000 would cover rent. Do they give you free meals at your med school and pay for your electricity, cable bill, and transportation costs? If not, that's another $6-7k in loans. Over four years, that's another $100k on top of the $72k in tuition and fees. It adds up fast.

 

[LizzyM]

There are lots of moving parts here. $18K for rent. As mentioned by MrPuff, you may have utilities and food or maybe that's about the same if you are contributing to the family budget at home. Transportation will be less if you live close to campus and can walk to classes and to stores that sell essentials. The budget for transportation if you live at home would include cost of operating your vehicle and, perhaps, the cost of parking on campus. You also need to consider the likelihood of problems such as weather or mechanical breakdowns that would preclude you from getting to school in a timely manner. (Such problems can get you "written up" for lack of professionalism).
I'd say that the $18K for rent is partly offset by the reduced cost of transportation. There is also the time savings of a shorter commute each way. Also, take into account the length of the commute in rush hour vs other times. I recall a student I knew IRL who got a rude awakening in that regard after moving to Baltimore.

 

[dgdg]

Definitely a financial advantage at home for room and board if they offer it freely, or much less.

Once you are in med school, you'll need to basically disappear from the usual family life, come and go anytime, while the family is still highly supportive. Some families may be supportive, but still never understand what one has to go through.
It may be worth a family meeting to set out the expectations from both sides. You can't have any issues socially while focusing on your studies. You are close enough that you can always scoot over to the library/student hall for your studies and any group meetings. Our med school had a student study area that was 24/7, entry via security guard with your id.

 

[Mr.Smile12]

Are there students at your medical school of interest that are commuting?

I am guessing Financial Aid adjusts its budget for the short distance. Parking is still parking unless you can rely on public transportation to get to class.

I don't know much about graduate housing. There are pluses and minuses. Again, ask students.

I agree you must agree to setting boundaries. Q: Would this include DATING???

 

[chilly_md]

Paying $1500 to have 3 roommates when you’re just 15 minutes away doesn’t sound appealing at all to me. You can hang out before and after class for a bit with that kind of low commute.

 

[dope.uh.mean]

I see, thank you everyone for your input! I understand that this is not the wisest decision financially, so I would only be doing this for one year if at all. I think my biggest concern is going to be establishing boundaries (and yes including dating haha) when living at home with my family and them still have a subconscious expectation for me to be as available to them as I am right now. I'll see what financial aid looks like and continue weighing my personal pros and cons, but I appreciate everyone's insight

 

[pablo213]

I see, thank you everyone for your input! I understand that this is not the wisest decision financially, so I would only be doing this for one year if at all. I think my biggest concern is going to be establishing boundaries (and yes including dating haha) when living at home with my family and them still have a subconscious expectation for me to be as available to them as I am right now. I'll see what financial aid looks like and continue weighing my personal pros and cons, but I appreciate everyone's insight

Lmk what you decide . I'm pretty much in your exact same position and was wondering the same thing.