when do we get our first paycheck!

[coryjellybean]

hi folks--i am trying to budget my remaining months in medical school and it is tight! when do we get our first paycheck for intern year?? thanks!

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[billypilgrim37]

hi folks--i am trying to budget my remaining months in medical school and it is tight! when do we get our first paycheck for intern year?? thanks!

it varies. we got paid for our two weeks orientation, so we had a paycheck on like june 30. but with some programs that pay biweekly, it could be as late as the 3rd week of july, and for programs that pay monthly (they do exist, i'm told), well, you're looking at aug 1stish.

 

[Still Kickin]

c j b - I am planning/hoping to take out a "Residency/Relocation" Loan. (This is something that's on my to-do list...)

Here's a thread I was participating in on the "Financial Aid" forum awhile back that may be of some use:
http://forums.studentdoctor.net/showthread.php?t=581559

And here are 2 SDN forums that might be of use:

Financial Aid Discuss financial topics, including private or military scholarships, student loans, and educational costs

Finance and Investment Discussion of everything other than financial aid. Includes investment, mortgage, retirement, banking, etc.

Also, I don't know if your school does this (or maybe you have ALREADY taken advantage of this), but my school will "increase our budget" for interview expenses (ie - the "Cost of Attendance" figure that determines the total amount of loans you can get thru the financial aid office). (I need to take in all the receipts for flights, hotel, rental car, etc.) Then you can take out another loan (like a Grad-Plus Loan) to cover thoses expenses. (All of this is yet ANOTHER thing to take care of on my to-do list.)

(I'm planning/hoping to get a budget increase for my interview expenses and take out a Grad Plus loan for that & then to further get a private "Residency/Relocation" loan.)
(I know taking out more loans bites. Sounds like you were trying to budget, so maybe you can get by until your first paycheck without taking more loans... [If so, lucky you!] )

 

[2tall]

Now this is a thread I can relate to....

Expected date of transaction = July 17th!

 

[Faebinder]

It's usually 2 weeks after you start (if you are getting two weeks of orientation then two weeks from then).


Some programs will not pay for orientation from my understanding. Others might lump the first two weeks and the second two weeks together for the pay to kick in (uncommon).

This is a legit question to ask your coordinator. You need the money to survive after all.

 

[TheWowEffect]

It's been awhile, so I don't really remember. I think our first check was a partial prorated check for over a week's orientation. So, you might want to check with your coordinator.

 

[whiskey]

We started 6/16, and i didn't get my first paycheck until 7/17!