My Expenses

Here is my estimate of how much I will be spending during my time in med school. So far I have been able to live comfortably with U.S. Federal Student Loans. These numbers were quite painful to calculate as I am aware I have to pay back all this money in full after I graduate, but the debt was something I had to accept when I chose my career goals, in the hopes that in the end it will all be worth it.

Disclaimer: These are my personal estimates, based on my own personal spending habits, and therefore not reflective of what other students would pay. Also, like all schools, tuition is subject to change every year.

TUITION

• Semesters 1-5: $16,000/semester –> $16,000 x 5 = $80,000 (but I paid $70,500 because of tuition changes + scholarship)
• Semesters 6-9: $17700/semester –> $17,700 x 4 = $70,800
• Semester 9.5: $8850
• Total: $70,500 + $70,800 + $8850 = $150,150

HEALTH INSURANCE

• $325/semester –> $325 x 10 = $3250

RENT/UTILITIES

• First Semester Dorm: $4200
• Island: $1250/month –> $1250 x 12 = $15,000
• Fifth Semester Dorm: $4200
• US: $800/month –> $800 x 24 = $19,200
• Total: $42,600

FOOD

• $10/day –> $10 x 365 days x 4 years = $14,600

TRANSPORTATION

• $600/semester –> $600 x 11 times = $6600

SUPPLIES

• $500

SCHOOL SUPPLIES

• $500

LIABILITY INSURANCE

• $1500

GRAND TOTAL

$150,150 + $3250 + $42,600 + $14,600 + $6600 + $500 + $500 + $1500 = $219,700

 

**UPDATE 10/2011**

The average AUC graduate borrows $102,500 from Stafford Loans.

The average AUC graduate borrows $212,350 from Grad PLUS Loans.