Posted might 19, 2016 – compiled by Jose Rivera Espada
Each year and more than 80% owe at least $200,000 in a combination of student loan principal and accrued interest in the U.S. — where more than 315 medical students graduate. In my own 28 years as Director of Student Financial Assistance, medical school tuition has increased 650%, resulting in a dramatic boost in medical education loan indebtedness. Our medical college is through no means one aided by the student debt that is highest. Instead, we represent a average exemplory case of medical education loan indebtedness. Needless to say, a couple of medical college outliers have actually substantial resources that assist medical students minimize — but not entirely expel — education loan financial obligation. And yes, 15percent–20% of medical students graduate every year with no financial obligation, because of household resources, service-connected scholarships ( ag e.g., army, nationwide wellness provider Corp), or a variety of savings and scholarships.
A burden or an investment in an era when medical student debt is steadily rising and health care payment reform makes expected monetary returns in any specialty more nebulous, one big question is: Should medical students consider medical school debt? [Read more…]