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What is the average cost of medical school?
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Doc’s Answer
Aniah attending Medical School can require a sizable financial investment, according to the Association of American Medical Colleges (AAMC), the average first-year medical student paid $38,000 for tuition, fees, and health insurance to attend a public medical school a year. The average first-year student attending a private medical school paid even more, at $65,000. If you use just the average figures, the average cost of medical school (assuming a 4-year stint) can range from $152,000 to $260,000. Of course these numbers do not include annual increases in tuition rates, nor do they factor in the cost of living while you are attending medical school. The cost of living—housing, utilities, food, and transportation expenses—can vary greatly depending on the location of your school, totaling $240,000 for 4-years
It usually takes between 11 and 15 years to meet all the education and training requirements. This includes an undergraduate degree, medical school, and a residency. After finishing medical school, student doctors can work in paid resident positions where, under the supervision of resident doctors in hospitals and health care facilities, they begin treating patients for various conditions. Residents get hands-on experience in their first year and continue gaining autonomy as they progress through the program as junior, senior and chief residents. A residency can last anywhere from 3-8 years. You'll work under the direct supervision of an attending physician and focus on practical training in general medicine and your chosen specialty. Unlike medical school where the student is paying a tuition for the education, the resident physicians are paid a salary. They are providing valuable work for the hospitals and clinics as they are taking care of patients and providing coverage day and night, weekends and holidays. This salary is about $86,000 per year.
Hope this helpful Aniah
Doing well in high school and getting a high GPA are essential beginning goals for those who want to get on the path to becoming a doctor. High SAT scores are also very helpful for university admissions. A bachelor's degree is required to get into medical school. Medical schools seek applicants who have a broad educational background, a solid foundation in the natural sciences, and experience in healthcare settings. While a specific major is not required, all medical school applicants need to complete undergraduate coursework in biology, physics, chemistry, and mathematics.
Apply to and attend medical school. Admission to medical school is competitive, and students should look for schools that match their interests. Most schools require students to take the Medical College Admissions Test (MCAT), which takes preparation. Medical school curricula usually consist of two years of didactic coursework in medicine and the biological sciences and two years of clinical rotations in a variety of areas such as emergency care or obstetrics. These rotations are meant to help students decide which area of medicine they wish to pursue.
Gain experience working or volunteering in a medical services environment. Because it takes so much time to become a medical doctor, it's helpful for students to gain experience working in the field of healthcare to find out if it's a career they would enjoy. Some medical schools require experience before they'll accept people into their programs, with opportunities ranging from volunteering at a hospital to becoming a medical assistant, licensed vocational nurse, or emergency medical technician.
It usually takes between 11 and 15 years to meet all the education and training requirements. This includes an undergraduate degree, medical school, and a residency. After finishing medical school, student doctors can work in paid resident positions where, under the supervision of resident doctors in hospitals and health care facilities, they begin treating patients for various conditions. Residents get hands-on experience in their first year and continue gaining autonomy as they progress through the program as junior, senior and chief residents. A residency can last anywhere from 3-8 years. You'll work under the direct supervision of an attending physician and focus on practical training in general medicine and your chosen specialty. Unlike medical school where the student is paying a tuition for the education, the resident physicians are paid a salary. They are providing valuable work for the hospitals and clinics as they are taking care of patients and providing coverage day and night, weekends and holidays. This salary is about $86,000 per year.
Hope this helpful Aniah
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Vickie’s Answer
Hi Aniah!
This is a great question and definitely something that important to consider if you're thinking about a future in medicine! On average, medical school debt can range anywhere from 200k to 250k. There are a few things that determines a majority of this cost, here are a just a few examples:
- in-state vs out-of-state tuition
- public vs private school
- cost of living
- scholarships
- cost of 3rd/4th year rotations (some medical students have to travel and live somewhere different each month to complete rotation requirements)
- interview and application costs for residency programs (this is during the 4th year of medical school)
Most medical students take out loans to cover the cost. Then, after you graduate medical school, you start paying off the loans. There are a couple different repayment options and even a 10 year loan forgiveness program.
It's definitely a huge commitment, however, it's doable as long as you have a game plan for paying off the loans and are smart about your money!
This is a great question and definitely something that important to consider if you're thinking about a future in medicine! On average, medical school debt can range anywhere from 200k to 250k. There are a few things that determines a majority of this cost, here are a just a few examples:
- in-state vs out-of-state tuition
- public vs private school
- cost of living
- scholarships
- cost of 3rd/4th year rotations (some medical students have to travel and live somewhere different each month to complete rotation requirements)
- interview and application costs for residency programs (this is during the 4th year of medical school)
Most medical students take out loans to cover the cost. Then, after you graduate medical school, you start paying off the loans. There are a couple different repayment options and even a 10 year loan forgiveness program.
It's definitely a huge commitment, however, it's doable as long as you have a game plan for paying off the loans and are smart about your money!