How much debt does one plan to accumulate after Med School?

[itimebomb2]

I was just wondering what the average student debt is - what is a reasonable number to aim for after 3-4 years of med school?

 

I'm guessing Mac students get it a bit easier with the 3 years?

[nemesis]

For medical school-related expenses and for housing/living/transportation, etc., I have an estimated debt projection of approximately $160,000.

[DOC_Ma]

For medical school-related expenses and for housing/living/transportation, etc., I have an estimated debt projection of approximately $160,000.

 

for 3 years? thats a lot for 3 years assuming u get osap which can give u like 6k grant a year and maybe even more.

[nemesis]

for 3 years? thats a lot for 3 years assuming u get osap which can give u like 6k grant a year and maybe even more.

 

That number represents (as of now!) my approximated projected debt and the end of 2013, including total money loaned from student loans and a line of credit.

 

It is, of course, subject to change.

[AndreaM]

Based on current expenses and income, I'm expecting around $150,000-$200,000 of debt by the time I'm done (this includes pre-med debt as well as med accrued debt). I'm including all my debt from student loans in the projection for now, even though I'm pretty sure that approx. $50,000 will be forgiven for working in an underserved community (you never know if those programs will still exist in 6-10 years once you're out there practicing).

[TheEggman]

I was just wondering what the average student debt is - what is a reasonable number to aim for after 3-4 years of med school?

 

Talk to MD financial, they will do a debt projection with you based on your spending habits.

 

My estimate is ~150,000 for 4 years, that doesn't take into account only having to pay back ~7300 for OSAP every year, so the actual amount will probably be less.

[nemesis]

Oh, and I should add...that projected debt includes plenty of one time purchases during my first year (e.g. a vehicle, apartment furnishings, a computer).