My girlfriend is trying to figure out how to pay for med school. I figured I could help her get some insight from people who attended business school. She's in a good spot financially to start. She needs between 80 and 90k per year (tuition and living expenses) for four years. She is sitting on 205k in a trust fund. She will also be receiving around 25k a year from her parents. Any recommendations on how she should tackle the loans she needs to make up the difference? Whether or not she should cash out her stock position and mutual funds? Any help is much appreciated. I'm obviously not a financial advisor.
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Depends on the interest rate of the school loans and her expected salary when she graduates. Do you know the answers to these questions?
I'm guessing around 6-7% for the loan rates. In terms of salary after school, a safe estimate is around 40 - 60k for the first three years, then jumps to 150k or so and goes up from there.
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