The Meager Med Student

1. Why are you asking for money?

Partly as a social experiment, partly out of utility. Usually in an MD/PhD program, your entire medical school tuition is paid for. Thanks to the 2008 economic situation, though, I’ll be doing the MD-PhD without funding for my four MD years. (See question 11 for details). So instead of going to school for free, I’ll be in the same debt situation as everyone else, which is $120K for the average student at UVM.

So I began thinking. If someone asked me to give him $120K, I’d laugh him out the door. (Particularly in these hard economic times). But if that person asked me for $1, I’d be willing to give it. I think most people would too. It’s a small amount that almost anyone can give at a moment’s notice.  So if I could find 120,000 people who’d be willing to give me $1, I’d be debt-free!

I’m in school for seven years, so that gives me a lot of time to find that many people. With your help, I can at least cut down on a little bit of my debt.

2. How do I know you won’t waste my money?

Every Monday, I’ll give a detailed expense report for the previous week, so you’ll see what I’m spending money on.

You’ll find I’m a very frugal person. I don’t go out and buy the latest toys just because mine are old or just because. I can live without most things in life. I do believe in taking care of myself, I do like to go out with friends to a bar, restaurant or movie every once in a while, and I do believe in buying slightly more expensive things that will last for a long time instead of continually buying cheap things that break every year. But I keep the “fun” spending under control.

3. Do you have any other outstanding debts?

Besides my undergraduate student loans, no. No credit card debt. I am a very frugal person.

4. Are you doing your part to find scholarships to cut down on your debt?

Absolutely! I’ve been told that as an MD-PhD, I can get funding from places like NIH for my final clinical years of medical school, so I’ll be looking into that when the time comes. Our school also has a financial counselor for the medical school, and I’ll be in touch with her to see what I can do. I have no intention of relying on donations to make my way through medical school.

5. Do your parents give you money?

I have three other sibings in college. I think you can do the math.

6. How much would you like me to donate?

All I’m asking is $1 per person. If you’d like to give more, great! Payments are made through PayPal. Click on the giant “Donate” button on the right sidebar of the website.

7. Can I specify what I’m donating money to you for? For instance, can I donate $10 for you to go see a movie or for your textbooks?

If you’d like! It’d be easier if you didn’t, simply because it’s easier for me to decide what’d be the best way for me to spend money. But I won’t mind if you do.

8. Can I get any tax benefits by donating money to you?

Honestly, I don’t know, and I don’t have the time right now to find that out. If someone could send me detailed information on that, that’d be great! For right now, assume it’s just a gift, and you won’t get anything in return besides a thank-you card from me.

9. What will you do if you get more than $120K in donations?

Remember, $120K is the average debt. Mine could be slightly more, or slightly less. For that reason, I’ll keep the link open for the entire seven years I’m in school, even if it goes past that. (If I receive way more than I could ever conceivably need before then, I’ll close the donation link.) If I pay off my debts and still have money leftover by the time I’m done with school, I’ll keep 10% for savings and donate the rest to charity.

10. I don’t want to send you money through PayPal. Can I send you a check or money order instead?

Updated 8/11/09: You can! Use this address:

Josh Pothen
Given Box No. 367
UVM College of Medicine
89 Beaumont Avenue
Burlington, VT 05405-0068

11. You’re an MD-PhD student. Don’t you get school paid for completely?

Normally, that is how the program works. However, because of the economic meltdown of ’08, UVM had to cut funding for the MD part of the MD-PhD program for my entering class. I’ll still be paid for the PhD portion, but I’ll still have the normal amount debt an MD student has once I’m done.  Perhaps the situation will change when the economy gets better, but right now, that’s what I’m facing.

12. Why didn’t you go to a MD-PhD program at another school?

I believe you can’t put a price tag on good education. UVM was simply the best fit out of the other schools I’d looked at. If at the end of the day I get no donations and have to pay $120K or more, I won’t regret having made the decision to have gone here. The teaching is great, the curriculum is a great fit for me, and there are so many good research fields I can jump into.

13. My question isn’t answered here, and I have other questions to ask before I decide if I can donate. How can I get in touch with you?

Drop me a comment or contact me via the website! I’d love to be in touch with you.