Stanford vs. Pritzker

[Mushmallow]

I was very fortunate to get accepted to both amazing schools; I was offered a merit scholarship at Pritzker, and Stanford has been my dream school for years. Is my dream school worth 200k in debt? What else should I be considering besides cost/location/happiness? All opinions are welcome, Thanks!

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[DNC127]

I was very fortunate to get accepted to both amazing schools; I was offered a merit scholarship at Pritzker, and Stanford has been my dream school for years. Is my dream school worth 200k in debt? What else should I be considering besides cost/location/happiness? All opinions are welcome, Thanks!

If you go to Stanford, you will always get to wear "Stanford Medicine" hoodies/Tshirts. That seems like reason enough for me. Plus you won't have to live in sh*tcago.

 

[TaroBubbleTea]

I was very fortunate to get accepted to both amazing schools; I was offered a merit scholarship at Pritzker, and Stanford has been my dream school for years. Is my dream school worth 200k in debt? What else should I be considering besides cost/location/happiness? All opinions are welcome, Thanks!

Pritzker's great, although the southside of Chicago probably not so much. However, you're saving way more than 200k after you factor in accumulating interest. Follow the $$$ and don't look back! You can always do residency at Stanford if you so please.

 

[Scrizzy]

Both schools are top tier, so you can't go wrong with either of them. If you visited each of them, I would go to the school that you enjoyed more. A 200k debt is not that bad in my eyes if you feel like you can get more enjoyment out of being in that school, you can easily pay it off when you make the big bucks too.

If you ABSOLUTELY can't decide on either. Coin flipping has been the go-to decision making method since time itself.

 

[bananafish94]

I don't even see a debate here. I wouldn't go to any school if there was another one offering me a free ride. That's an enormous amount of money. Plus, isn't Husain Sattar a faculty member at the University of Chicago?

 

[DatInterviewDood]

OP is life goalz

 

[Gilakend]

Go to Pritzker, take the 200k to Vegas and put it all on black, baby. Either you're living like a king while you're in med school or you're a normal med student at Pritzker. You can't lose here.


Sent from my iPhone using SDN mobile

 

[Scrizzy]

Go to Pritzker, take the 200k to Vegas and put it all on black, baby. Either you're living like a king while you're in med school or you're a normal med student. You can't lose here.


Sent from my iPhone using SDN mobile

I take everything I said back. Go with his plan.

 

[ace_inhibitor111]

It's not like Pritzker is handing you a check for 200K. You'll only start feeling it 7+ years down the line. I say go to your dream school. You can eventually pay off 200k, you can't pay your way into Stanford.

 

[flapjack3d]

How about you tell stanford about your dilemma and see if you can get some more dough out of them

 

[WedgeDawg]

If you're smart enough to get into these schools, you should be smart enough to read the stickies. This is not the place for this thread. Moving to SSD.

 

[Mushmallow]

If you're smart enough to get into these schools, you should be smart enough to read the stickies. This is not the place for this thread. Moving to SSD.

Thanks for the helpful comment Glad that my acceptances mean I know all about forum faux pas after my very first post.

 

[TaroBubbleTea]

It's not like Pritzker is handing you a check for 200K. You'll only start feeling it 7+ years down the line. I say go to your dream school. You can eventually pay off 200k, you can't pay your way into Stanford.

This advice is unfortunately rather shortsighted. It's naive to think that a debt of 200k does not have any immediate repercussions. You WILL feel that 200K right away, maybe not all at once. But every single day, the interest will be piling on and by end of residency, you won't know what hit you. You'll also feel that 200k if you realize primary care might be your passion, but the debt is making it unrealistic or difficult to justify in your head.

The first year at Stanford, you'll take out 50k and interest is accumulating every single day at a rate of ~6%. The second year, you'll take out another 50K, so now its interest on 100K at 6%/year. By the time you graduate, the 200k you initially borrow will turn into 230k. That will easily turn into 290K if you forebear during the course of a 4 year residency.

 

[ChezKim]

Hey, I am holding admissions to the same two places. Money is about the same for me. Just curious if you have picked yet? Any why your preference for Stanford over Pritzker if all else was equal?

 

[calimed2017]

honestly, I would push you to Stanford if the money was the same, but being 200K in debt will not be fun to deal with and it may limit your opportunities in the future. i would go to pritzker and not look back. how many people can say they went to med school practically for free?

 

[begoood95]

I'll voice another (maybe) unpopular opinion here, and say I would personally pick Stanford. Yes, of course, the debt is something you should think about -- and maybe having not struggled with money I have the luxury of not having felt what that's like.

But I think it's important to pick the place in which you'll be happier. If Stanford is your dream school, and after visiting that dream was only confirmed, go there. Might you be saddled with ~$250-300,000 worth of debt? Sure, but as a physician, you'll make enough to pay it off eventually. You'll be making payments per month, and while that may detract from some lifestyle you imagined for a bit, in the end it will be paid off.

Plus, you'll be used to living frugally after residency and medical school, so the change -- that is, having to limit extra expenses because of the monthly debt payments -- shouldn't be too bad.

Go to your dream school! Stanford is amazing, and if I were in your position, I would not hesitate to go there. Your happiness supersedes almost all other considerations: debt is another bill you'll have to pay, but it'll eventually go away. If you think you'll be happier at Stanford, go there!

 

[hubbsbubbs]

I'll voice another (maybe) unpopular opinion here, and say I would personally pick Stanford. Yes, of course, the debt is something you should think about -- and maybe having not struggled with money I have the luxury of not having felt what that's like.

But I think it's important to pick the place in which you'll be happier. If Stanford is your dream school, and after visiting that dream was only confirmed, go there. Might you be saddled with ~$250-300,000 worth of debt? Sure, but as a physician, you'll make enough to pay it off eventually. You'll be making payments per month, and while that may detract from some lifestyle you imagined for a bit, in the end it will be paid off.

Plus, you'll be used to living frugally after residency and medical school, so the change -- that is, having to limit extra expenses because of the monthly debt payments -- shouldn't be too bad.

Go to your dream school! Stanford is amazing, and if I were in your position, I would not hesitate to go there. Your happiness supersedes almost all other considerations: debt is another bill you'll have to pay, but it'll eventually go away. If you think you'll be happier at Stanford, go there!

Stanford is a dream for me too, but 200k debt is going to have a bigger impact than what you described. The psychological weight, as well as your emotional reaction to it, are important factors to consider. What if Stanford turns out to be an experience you think you could have had at Pritzker -- to what degree will you regret walking about from so much money?

I have struggled with money (and am currently jumping for joy that I was cleared for FAP this past week) and your opinion comes off as ridiculous to me. My 10,000 car loan weighs on my mind every day while I daydream about quitting my dead-end job and as I force myself to smile while my boss uses my face like a toilet. I can't even begin to imagine what 200k would feel like. As OP described, he was fortunate to receive acceptances to two great schools. Go to the great school that's giving you a full ride.

 

[begoood95]

Stanford is a dream for me too, but 200k debt is going to have a bigger impact than what you described. The psychological weight, as well as your emotional reaction to it, are important factors to consider. What if Stanford turns out to be an experience you think you could have had at Pritzker -- to what degree will you regret walking about from so much money?

I have struggled with money (and am currently jumping for joy that I was cleared for FAP this past week) and your opinion comes off as ridiculous to me. My 10,000 car loan weighs on my mind every day while I daydream about quitting my dead-end job and as I force myself to smile while my boss uses my face like a toilet. I can't even begin to imagine what 200k would feel like. As OP described, he was fortunate to receive acceptances to two great schools. Go to the great school that's giving you a full ride.

I agree, and that's why I told OP to carefully consider where they imagine they'd be happier! That's also why I noted that I probably have this lax opinion on loans and whatnot because I never had to struggle with/for money; I was privileged in that my parents paid for everything, so I was lucky. My opinion coming off as ridiculous to you is fine -- everyone has their own experiences with money and the like, and so naturally we're going to have different opinions/responses to issues dealing with financial stress. In your case, given that you're telling me loans stress you out and whatnot, I would suggest the full ride.

If OP gets anxiety from the prospect of loans, then, obviously, they should choose Pritzker. They haven't suggested that though (yet), and really only talked about their happiness and that Stanford is a dream. If OP doesn't stress about money, then even in the face of debt, I'm sure they'll be okay.

And remember, I'm not discounting your personal opinion on this. It is as valid as mine is. We differ because of our experiences, and OP will too. They're the only person that can truly assess whether or not that loan is going to weigh on them, no matter how many people chime in.

 

[hubbsbubbs]

I agree, and that's why I told OP to carefully consider where they imagine they'd be happier! That's also why I noted that I probably have this lax opinion on loans and whatnot because I never had to struggle with/for money; I was privileged in that my parents paid for everything, so I was lucky. My opinion coming off as ridiculous to you is fine -- everyone has their own experiences with money and the like, and so naturally we're going to have different opinions/responses to issues dealing with financial stress. In your case, given that you're telling me loans stress you out and whatnot, I would suggest the full ride.

If OP gets anxiety from the prospect of loans, then, obviously, they should choose Pritzker. They haven't suggested that though (yet), and really only talked about their happiness and that Stanford is a dream. If OP doesn't stress about money, then even in the face of debt, I'm sure they'll be okay.

And remember, I'm not discounting your personal opinion on this. It is as valid as mine is. We differ because of our experiences, and OP will too. They're the only person that can truly assess whether or not that loan is going to weigh on them, no matter how many people chime in.

While I appreciate your maturity, and your acknowledgement of our unique life experiences contributing to our different opinions, it may be the case that your opinion carries more weight than you think it does. Though the OP is posting on a public forum and looking for opinions, it may be the case that a single opposing voice can fuel the fire to pursue a dream that is otherwise unrealistic.

I don't think it's the case that only OP can truly assess whether a loan is going to weigh on them -- I sure wouldn't have known before getting my loan that it would have such weight. I think that's the case for most people.
I'll admit to having limited scope myself. I have never gained acceptances or experienced loans in the six digits. But unlike many of the threads on this site (WAMC, random questions), this is a major decision that will likely affect the course of OP's entire life (especially if he chooses the loans).

Clearly my opinion is colored by my current situation, but it's the case that a single voice of encouragement was sufficient to back my decision to take on a loan I didn't know I couldn't afford, even against a sea of opposition.
Perhaps, though, the honest reason for my discontent is the flippancy with which you presented your own financial situation, the ease with which even a physician would be able to manage their loans without concern, and the idea that 'happiness supercedes almost all other considerations' is off putting to me. The reality is that for most people, this isn't even a choice for them.

 

[aalamruad]

Stanford is a dream for me too, but 200k debt is going to have a bigger impact than what you described. The psychological weight, as well as your emotional reaction to it, are important factors to consider. What if Stanford turns out to be an experience you think you could have had at Pritzker -- to what degree will you regret walking about from so much money?

I have struggled with money (and am currently jumping for joy that I was cleared for FAP this past week) and your opinion comes off as ridiculous to me. My 10,000 car loan weighs on my mind every day while I daydream about quitting my dead-end job and as I force myself to smile while my boss uses my face like a toilet. I can't even begin to imagine what 200k would feel like. As OP described, he was fortunate to receive acceptances to two great schools. Go to the great school that's giving you a full ride.

I don't understand what all the fuss is about regarding debt being such a supposedly brutal psychological burden. Doesn't make any sense to me. I'm not referring to OP's or ChezKim's situations specifically, but just all the complaints about debt in general. In what way does it have so much psychological weight? All med students, residents, fellows, and attendings live relatively comfortably. None of them are homeless or starving, they all have adequate access to transportation and clothes and healthcare and even some minor luxuries. I just don't see why having $200k in debt "feels" like anything at all. I'm taking out ~$250-300k in loans for med school and I've yet to feel a thing, it's just a number that will decrease my paycheck during residency/fellowship and for the first ~3-8 years as an attending. What's there to be so stressed about? "Only" making $50k instead of $58k as a resident? "Only" making $180k instead of $230k as an attending? I'd genuinely like to understand your point of view regarding why it's so stressful and emotionally upsetting, because I've seen a lot of other people share your sentiments and it always baffles me.

 

[DNC127]

While I appreciate your maturity, and your acknowledgement of our unique life experiences contributing to our different opinions, it may be the case that your opinion carries more weight than you think it does. Though the OP is posting on a public forum and looking for opinions, it may be the case that a single opposing voice can fuel the fire to pursue a dream that is otherwise unrealistic.

I don't think it's the case that only OP can truly assess whether a loan is going to weigh on them -- I sure wouldn't have known before getting my loan that it would have such weight. I think that's the case for most people.
I'll admit to having limited scope myself. I have never gained acceptances or experienced loans in the six digits. But unlike many of the threads on this site (WAMC, random questions), this is a major decision that will likely affect the course of OP's entire life (especially if he chooses the loans).

Clearly my opinion is colored by my current situation, but it's the case that a single voice of encouragement was sufficient to back my decision to take on a loan I didn't know I couldn't afford, even against a sea of opposition.
Perhaps, though, the honest reason for my discontent is the flippancy with which you presented your own financial situation, the ease with which even a physician would be able to manage their loans without concern, and the idea that 'happiness supercedes almost all other considerations' is off putting to me. The reality is that for most people, this isn't even a choice for them.

Who cares that they are honest about their parents hooking them up? Get over it. FYI its not a bad thing to be rich or have rich family. I don't know very many physicians that don't easily pay off their loans. Happiness is everything. If you aint happy you aint nothin. It is a choice. Id pay double what I am paying per year for med school and possibly one of my kidneys to go to stanford.

OP people have different views, but if your dream is stanford, and debt isnt going to send you down a spiral, go be a baller at stanford. You do you.

 

[begoood95]

While I appreciate your maturity, and your acknowledgement of our unique life experiences contributing to our different opinions, it may be the case that your opinion carries more weight than you think it does. Though the OP is posting on a public forum and looking for opinions, it may be the case that a single opposing voice can fuel the fire to pursue a dream that is otherwise unrealistic.

I don't think it's the case that only OP can truly assess whether a loan is going to weigh on them -- I sure wouldn't have known before getting my loan that it would have such weight. I think that's the case for most people.
I'll admit to having limited scope myself. I have never gained acceptances or experienced loans in the six digits. But unlike many of the threads on this site (WAMC, random questions), this is a major decision that will likely affect the course of OP's entire life (especially if he chooses the loans).

Clearly my opinion is colored by my current situation, but it's the case that a single voice of encouragement was sufficient to back my decision to take on a loan I didn't know I couldn't afford, even against a sea of opposition.
Perhaps, though, the honest reason for my discontent is the flippancy with which you presented your own financial situation, the ease with which even a physician would be able to manage their loans without concern, and the idea that 'happiness supercedes almost all other considerations' is off putting to me. The reality is that for most people, this isn't even a choice for them.

So OP shouldn't pursue a dream because of a possibility of stress from debt? There is nothing unrealistic about your dreams, OP. As others have mentioned, we're not talking about taking on $200k of debt with terrible financial prospects -- OP will presumably be a physician after all (and being admitted to Stanford, I don't doubt their potential one bit). They will be able to pay off the debt, and their situation is much different that yours, a student in undergrad stressing about their debt.

I don't think I was being flippant, or, at least, I tried not to be. I was simply pointing out that I acknowledge that others will disagree with me and that my opinions on finances are probably due to my never having to stress about money. The fact of the matter is, 9 times out of 10, a physician will be able to "manage their loans without concern." And I'm sorry that my statement that happiness supersedes almost all other considerations is off putting to you, but it's not a terrible philosophy to live by. Just because it's not a choice for some people, does not preclude others from choosing happiness if they indeed have the choice.

None of this, like I said before, is meant to delegitimize your opinion or say that what you're suggesting is wrong per se. I still hold to my suggestion to OP though: they should go to Stanford. I wholeheartedly agree with @walloobi in that I don't think debt -- in the form of having a slight deduction in income -- is going to affect someone making >$150,000, or even during residency. OP will be practicing within the profession of their dreams, and in the institution of their dreams. I think the extra debt will be worth it, and I do not think it will dramatically impact OP.