u/Illustrious_Mine_145 — reddlx

Hi all! Im an incoming M1 curious on some perspectives on loan amount, weighing keeping it as small as possible vs taking some more to keep me comfortable. To keep it short (and to not doxx myself):

My tuition for medical school in a very HCOL area has been covered for the four years
No undergrad debt, no significant savings
On top of that, a lot of my living expenses are being covered by my S/O (Current gross income: ~95,000), who I live with.

That leaves me with needing loans for contributing to rent (1000 a month) and to food, on top of any miscellaneous expenses that pop up in med school. From a financial perspective, my goal is to minimize debt and open up room after school to pursue getting a house/having kids/etc. My question for y’all is:

At what point should I stop in regards to loans? Is there a significant difference between 12,000 a year or 15,000 a year, especially if it means a bit more comfort in regards to food/housing/amenities
How do I take advantage of this position in residency, then attending-hood to make my financial life as easy as possible?

I recognize that this is a very privileged position to be in, and its why I don’t want to sit on my laurels financially. Thanks!