Digging deeper to pay for medical school
■ An occasional snapshot of current facts and trends in medicine.
Quick View. Posted April 18, 2005
Medical school costs are rising so sharply that future generations may have a tough time pursuing medical careers.
Since 1984, median tuition and fees rose 312% at public schools and 165% at private schools. In constant-dollar terms, that means a public school medical education costs 50% more today than it did in 1984 and a private school education costs 133% more. In 2004, new physicians graduated with an average $115,000 debt, which at current interest rates results in a $1,242 monthly payment. These are medical school debt figures for a 20-year period. The numbers have not been adjusted for inflation.
Source: Assn. of American Medical Colleges. The "Medical Education and Student Debt" report can be found online (link), in pdf.