How to pay the bills - family & house

For applicants who have been out of school for a few years, or are planning to have a family in medical school, or have other non-traditional qualities.

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How to pay the bills - family & house

Postby egrande25 » Tue Jul 28, 2015 2:32 pm

I'm seriously exploring medical school at age 32. I have a bachelors and a masters degree in environmental engineering from 2006 and 2009 respectively. From what I've researched, with my background and the age of my basic science coursework (12 years ago), I am probably best served by re-taking some of the basic sciences through post-bacc coursework, and volunteering in a medical setting to bolster my resume. I am willing to do all that over the next 18 months or more, daunting as it may be, and then taking the MCAT and applying.

The real hurdle for me is planning the money. I would be quitting my full time career job for med school, obviously, and my wife's salary can't float our entire household (not even close). From what I've researched, med schools offer financial aid packages for the "cost of attendance." Great. I gather this commonly includes tuition, fees, and a cost of living amount -- but one that, from what I've read, really covers only spartan living for young single folks. Is this true? I have a baby daughter and a mortgage. What are non-traditional students doing to pay all their bills? I'm just not finding very much about this online, and the two med school admissions officers who have gotten back to me to talk generally about non-traditional admissions were either not fully knowledgeable, or willing to divulge this. Are non-trads taking out enormous supplementary private loans to cover their mortgage, utilities, groceries, car payments, etc. during med school? If so, what are the lenders you've found that offer this sort of loan? Or, am I mistake, and will med schools consider a non-trad's cost of living and offer reasonable financial aid packages to cover them?

Thanks for any thoughts on this. I just haven't been able to find a clear outlook on this online or in my conversations with med school folks.
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Re: How to pay the bills - family & house

Postby CaribMD » Thu Aug 13, 2015 10:59 am

You will have to downsize your spending. Get rid of credit cards and learn to live on a lot less. This is hard for many people but we have done it. Except for Student Loans I do not have any other credit. I raised 3 children through Highschool during Medical School. What I did was have them work at their own part time jobs and that was their money. Struggling through medical school with money is what we all do.

I would however take a year of course work before applying since your course work is so long ago. GL
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