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I've been in Chicago for several years now, and it's time for me to think about where I want to be for medical school. It looks like I can either live in an apartment on the South Side of Chicago (10+ minutes by car from where the action is in the city) and end up 140k in education loan debt, or attend NYU, live in a dorm (single rooms but shared bathroom/kitchen) in Murray Hill, and end up 220k in education loan debt. After rent is paid at either place (housing costs would be the same, btw), I would have about 10k per year to spend on food and entertainment.
I like Chicago okay. I love it in the summer, but I feel the winter is too much for me (originally from a southern state). I would like it better if I could live in a part of the city with more nightlife opportunities and better public transit, but that's not where the school is located. From the few times I've visited, I think I would like Midtown Manhattan better, mostly because there's more to do within walking distance. I don't mind living in a dorm rather than an apartment to get this.
Any opinions one way or the other? Is living in Manhattan now worth the extra 80k of education debt at about 7% interest (I hope to make around 200k per year as a doctor)? Is Manhattan significantly warmer than Chicago in the winter? With housing/utility costs out of the equation, can I live just as well in Manhattan as I would in Chicago on 10k per year?
Hmmm well it all depends. I am not in Med school, but where do you plan on practicing upon graduation? If it is in NYC, then you need to find out whether the jobs pay significantly more in NYC than they do in Chicago in the Medical field. From what I understand the starting salaries are not that high for Doctors and so that debt is going to hurt when you first graduate. From what I have been hearing the payments are usually like $1,000 a month and when you first graduate you could definitely use that extra $1,000 a month because you won't be earning that much.
Now as to the weather. It is not going to be Southern warm in NYC, however the winter is much more bearable in NYC than in Chicago. Manhattan is an island after all and being surrounded by the ocean has a moderating effect on the climate. This results in less snow and less all around harsh weather. Sure the temperature is still going to be around 32 degrees in December, but there are going to be fewer days where the temperature is around 10 degrees as in Chicago.
I have a sibling who went to the midwest, near Chicago, for college and says the weather out there is depressing because it snows basically from October/November until March.
10k a year, without paying for housing and everything? You can live, but I dont' know if I would characterize it as living well. As long as you aren't into going to the bars and club 3 days out of the week and take trips to the grocery stores instead of paying $5 for a carton of milk at the local Korean-mart you should be able to manage that though.
Is New York really that much more expensive than Chicago? I'm surprised by those figures.
Your decision should hinge on whether you care about borrowing more money in student loans. If you don't care go for NYC.
i'm sorry. i should have made this clear. the bigger expense is because i was offered scholarship money at the chicago school. so overall, i would be in 80k more debt if i live in manhattan, but at either place i would have about 10k per year to spend on food and entertainment.
but i do wonder if food and entertainment is much more expensive in manhattan than chicago . . .
i'm sorry. i should have made this clear. the bigger expense is because i was offered scholarship money at the chicago school. so overall, i would be in 80k more debt if i live in manhattan, but at either place i would have about 10k per year to spend on food and entertainment.
but i do wonder if food and entertainment is much more expensive in manhattan than chicago . . .
I've heard Chicago is pretty much the same as Manhattan, cost of living-wise. Maybe only a small difference.
From a MEDICAL standpoint, unless you're going to Pritzker, the medical schools in NYC are held in much higher regard than those in Chicago.
haha. yeah, the school in question is pritzker.
any advice based on the medical side of things would be appreciated, too. i guess i should add that i'm interested in emergency medicine. i would like to do a residency in nyc at this point. in both respects, i'm open to the idea that my preferences might change. from the perspective of residency directors in nyc, is pritzker on the map?
Pritzker is MOST ABSOLUTELY on the map for residencies in NYC!!!! If you're going to be at Pritzer, it's going to be a hard choice for you! What a nice dilemma!
If, as you say, you're interested in Emergency Medicine, the pay is pretty much the same all over. You might have SOME regional variation, but where you go to medical school, in my experience, has little bearing on where you eventually practice. As a Pritzker graduate, with GOOD GRADES, you should have no problem finding residency anywhere you want. And THAT is what you should keep in mind. Your internship/residency program only gets you board-eligible in your area of practice, but it certainly doesn't determine WHERE you practice.
Pritzker is MOST ABSOLUTELY on the map for residencies in NYC!!!! If you're going to be at Pritzer, it's going to be a hard choice for you! What a nice dilemma!
thanks for the advice here and on the other thread.
it *is* a very fortunate and thankful dilemma to have, but a dilemma nonetheless. i think at this point i'm leaning toward nyu. i think it could be worth the extra 80k (maybe more like 70k, since my car is dying and i wouldn't have to buy another one at nyu) to be in a better location with somewhat better weather. it's just hard to imagine what that extra debt is going to feel like eight years from now, since by then i might have gone into a lower-paying specialty and i might have a wife and kids. but right now it feels like the path of least regret.
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