200k in Debt for Pharmacy?

Emily2007
Wed, 12 Jan 2011 09:49:00 +0000

If I didn’t get any scholarship money to go to northeastern, I wouldn’t have come here. Period. I know some kids come from families that can foot the entire bill, but had I had to pay my entire or most of the EFC through loans, I would not do it.

First, it’s helpful to break pharmacy degrees down and remember that you are earning a very expensive graduate degree. I never advise massive debt for undergrads, ever. I do not think a bachelor’s is worth 100k or more. Personally, I’d draw the line at 60k, and even that number makes me uneasy. However. Pharmacy degrees are not bachelor’s degrees. They are advanced, expensive degrees which nearly guarantee a starting salary of 90k-100k. The are expensive but also worth a lot.

Many of my friends are now in medical school, and a few in pharmacy school. Two close friends of mine did their bachelor’s at NEU and then separately did pharmD. They are both 100k-120k in debt for this degree (medical school tends to be even more, around 75k-200k). Both of my pharmD friends say that their 100k of debt is manageable. It takes a few years to pay off, but this is the nature of the field unless your parent’s have deep pockets and you are one of a very lucky few whose parents pay for undergrad AND graduate school.

According to both office of registrar and my current NEU bill, tuition is about $18,500 per semester. This is 37k per year. NEU also says extra fees freshman year is 12k. So 49k per year. Yes, without scholarship, this is too high. NEU bachelor’s is not worth this.

The problem with this entire thread is we haven’t brought in scholarship money. We also don’t have a clear idea of how much your family can pay vs how much loans you’ll need.

Neuchimie mentioned the girl who graduated with 200k. That was really stupid. I know a lot of people who don’t come from families with lots of money, but they’re on scholarship. There is NO REASON someone on a tight budget should go here if they don’t have scholarship. Go somewhere cheaper. 200k is not.worth.it. Next. For people who are on a tight budget, move the hell off campus. Get a part time job! Be responsible. I know plenty of people who do whatever they can to keep costs low, this girl was just totally irresponsible in how she managed her 5 years here.