Ivies, T20s, where do I stand?

Have the money talk again with your parents. This is a really hard conversation for many parents to have with their kids, especially if that hasn’t been normal all the way through.

You have a great profile, and you might be one of the students who says ‘pre-med’ going in, and is ‘med’ going out. Medical school is whackingly expensive, and although there is such a thing as scholarships, they are few and far between. I have a friend who finished paying off her college & med school loans right as her daughter started medical school.

So have the conversation: how much money is there, really? without impacting their retirement? without loans? Are they expecting to pay for medical school, or are they expecting that you will pay for that? How much of a difference will undergrad spending make?

It might be that your best long-term approach is to move your search from Ivies to places who will woo you- places where you will be a superstar and they will give you huge discounts on your tuition to encourage you to come. Or, maybe one of those colleges that have great scholarships- the Robertsons and Stamps type. Your parents might not be as impressed with the names up front, but when you can do college and grad school without debt (or not very much debt), and they are at your med school graduation, it will have been worth it. They may not realize that going to an Ivy or T-20 won’t help your med school chances.

Have the money talk.