Research Task - Show your Skills
A student has just been admitted to one medical school: Western University in Pomona. The student has the following profile to use for paying for that school:
Part-time job: $6,000 a year during med school
Parent Assets: $50,000 in the bank
Parent Income: $175,000 per year
Parents are willing to contribute: $15,000 a year
The student has good credit (FICO: 720), as do the parents (FICO: 780)
Based on the budget listed for the four years of that school: https://www.westernu.edu/financial/financial-budgets/financial-budgets-osteopathy/
And based on the student’s information listed above, what is your recommendation on how the student should pay for their education? What combination of government, non-government, and family loans and assets would be appropriate?
Please show your work through a spreadsheet (either Google Sheets or Microsoft is fine).