There is a famous saying given to those entering medical school: "Live like a student now so you can live like a doctor later."

The saying is used to advise students to save luxurious spending for the future once they obtain jobs to avoid debt caused by tuition costs.

Cecile Kamath, Ph.D., director of Financial Aid Services, said it is a vital piece of advice for students who use loans to save money. "We encourage students to borrow only what they truly need."

College of Dental Medicine students paid one of the institution's highest rates for tuition, books and living expenses in 2012. This fall, MUSC students will face yet another tuition hike with rates in some colleges rising as much as 5 percent more than last year. To help students manage the soaring cost of higher education, Congress approved legislation to extend the 3.4 percent rate for subsidized student loans for one year.

For the upcoming 2012-2013 academic year, most MUSC students will meet another rise in tuition. Although some students will not be subject to an increase, others will bear the responsibility of paying more than they paid last year.

MUSC is not the only state university that will experience a tuition increase. Most all state university students will be paying more to attend schools, such as the University of South Carolina, Clemson University and The Citadel, meaning several students will have to borrow bigger loans to cover the cost.

Kamath says there is no easy explanation for what specifically causes tuition to rise, and it is influenced by various elements. "Tuition is set by administrators who take into account a wide range of contributing factors that are not readily apparent."

Brandon Hagan, president of the MUSC Student Government Association and a College of Dental Medicine student, said he has seen a tuition increase every year since he has been a student. He also says the increases will likely affect him more when he begins his loan repayment, but they make students like himself more mindful about the things they spend money on.

"Everyone has different ways of handling the burden of high tuition. I actually lived alone for the last two years, but this year, I have roommates to save more money and borrow less."

The College of Dental Medicine will face the biggest rise in tuition, with both in-state and out-of-state students paying 5 percent more than they did last year.

Hagan suggests current and incoming students create a weekly or monthly budget to help avoid spending more than what they actually need. "Stick with the necessities, but be comfortable."

Kamath said the amount of debt students have after graduation differs based upon their incomes.

Recently, Congress took measures to prevent an increase in interest rates on federal direct subsidized Stafford loans. The bill was created to freeze the interest rates at 3.4 percent to prevent students from being subject to paying twice that amount at 6.8 percent. The bill was signed into law by President Obama and is supposed to last until July 1, 2013.

According to Jamie Hood, a student services program coordinator in the College of Dental Medicine, there are six repayment options for students. "I'm impressed by all of the positive changes that have occurred in the last few years in regards to student loan repayment options."

Hood, who used to work as a financial aid coordinator, said previously students had only 10 years to pay their loans back. "Students seeking degrees in health care fields incur a higher loan debt, so having more options for repayment greatly benefits them."

Each individual college offers scholarships that can help offset any financial woes. Hagan advises fellow students not to shy away from any scholarship opportunities their college may offer. "Work-study is also a good option because it allows you to be a part of campus life and get paid while not having to repay it."

Despite the risk of large debt, Hagan believes tuition should not deter students from attending the graduate school for the program of their choice.

"Now a graduate degree is like what a college degree was 25 years ago. Jobs are becoming more scarce and even with a basic college degree, it's becoming harder to get those ideal jobs students want. If it is something you dream about doing, then I say go for it."

Kamath believes obstacles are inevitable regardless of what career path a person chooses to pursue. "People have personal challenges in their lives. As such, students in all of the colleges and programs face similar life issues that impact their abilities to deal with financial questions."

Hagan says the students have to take into account many factors when making the decision to enter graduate school despite financial woes.

"Most of the time, receiving advanced training will be more beneficial in the long run, including salary and lifestyle. I don't look at rising tuition as a burden because I know this is the profession I want to be doing for the rest of my life."

For information about MUSC's financial aid services, visit http://www.musc.edu/em/financialmanagement.