Its crazy how expensive college tuition is over here!! Its unbelievable how much it increases from year to year tho, when I was a freshman in Allegheny College, the total tuition including room and board was about $32,000 a year, sophomore year it rose again to $34,000, junior year it rose again to $37,000, and now im paying $40,500 this year. And thank God I'm leaving, because I hear the tuition will also increase again next year to $41-42K. Though my sister will experience that because she also goes to Allegheny, as a junior this year.
Im just grateful for my parents having to bear the brunt. Next year tho I'm planning to take medical school loans, because the first year tuition for medical schools ranges from anywhere from $55,000-$60,000+, and this is not including room and board. Or personal expenses, or hospital visitation fees.
Its ridiculous. I swear, they make it so hard to proceed into the field of medicine. I mean I'll never be able to pay my college debt until i'm like 40 or something. Its ridiculous, specially the APR rates on some of these medical school loans. One loan that I'm applying right now, which is the Terri Loan and the Medical School Professional Loans have interest rates that ranges anywhere between 20%-30%. So if say student A takes out a a $250,000 medical school loan, he or she would be responsible to pay upon graduation of medical school over $325,000 (plus hidden costs). I have a very close friend, Ranjit Singh, M.D, who recently graduated from Ross University School of Medicine, is a 1st year intern at Northern Virginia Health Systems, he told me that he's paying $1,500 a month for loans, and he only gets paid $38,000 a year as a medical resident intern, it makes it difficult paying and providing primary needs as well, i mean, the guy takes home about 2k a month, rent, gas, electricity, gas, food etc.
Its crazy.
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