How Much Does Medical School Cost?
Medical School Prices
For those who truly enjoy helping other people, medicine is an extremely rewarding and fulfilling profession. Doctors use their knowledge to improve the lives of others. Medicine is also a highly challenging and competitive field. Serious medical school candidates should have a true fascination with science and the human body, and a commitment to a lifetime of learning.
It takes between 11 and 16 years to complete a medical education, according to the Association of American Medical Colleges. The first four years are spent in undergraduate school and the second four in medical school. The next three to eight years are spent in residency, training for a specialized field.
If you don't have the time or the money to invest in schooling to become a doctor, but you'd still like a career in the medical field, you should consider training to become a Medical Assistant. A certificate degree could take as little as 9 months to a year to complete while an associates degree in Medical Assistanting would take two years. Check out our featured Medical Assistant schools below.
Medical School Costs
Medical school comes with a significant financial commitment. During the 2009-2010 school year, the average annual tuition at public medical schools was $25,209 for in-state students and $45,858 for out-of-state students, according to the Association of American Medical Colleges. The figures include fees and health insurance, but not housing or living expenses.
At private schools, the average cost of tuition, fees and health insurance was an average of $42,903 for in-state students and $43,431 for out-of-state students. That also includes tuition, fees and health insurance, but not housing.
- At the University of Virginia School of Medicine, first-year students spent a total of $58,438 in-state and $69,432 out-of-state. That includes $37,880 in tuition for in-staters and $48,874 for out-of-staters, as well as fees, health insurance, books, supplies and living expenses.
- At Harvard Medical School, the average cost for first-year students for the 2010-2011 year is about $70,000. About $45,000 of that total goes to tuition, and the rest covers fees, living expenses, health insurance, books, supplies and other materials.
- At The University of Mississippi Medical Center, in-state tuition for medical students is $15,649 and out-of-state tuition is $36,462 for the 2010-2011 school year.
Paying For Medical School
The vast majority of medical school students – 87 percent – graduate with debt. The average debt for those students in 2009 was $156,456, according to AAMC figures.
However, if you're serious about medical school, don't let the costs discourage you. Medicine is a high-paying profession, allowing you to pay student loans you accrue over time. There are also grants and scholarships available, particularly if you choose a field of medicine that is in high demand.
According to AAMC, scholarships and grants are available through individual schools and the federal government. Federal programs include the Armed Forces Health Professions Scholarship, the National Health Service Corps., and the National Medical Fellowships, which provides college funding for minorities.
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