Medical Schools Cost – Low, Modest and High Cost Schools

Medical Schools Cost – Low, Modest, and High-Cost Schools

Medical Schools Cost – Low, Modest, and High-Cost Schools.

Medical Schools Cost: There are endless lists of medical schools. If you want the student to be familiar with faculty ratio, study performance, average MCAT scores, GPA, or strengths of specialization. That’s easy to find out. What you can’t find is medical schools that are measured by their financial impact on your life.

We identified six types of medical schools in our research on the basis of their financial impact on a student and their finances. You probably went to or are considering one of these kinds of schools.

Medical Schools Cost – Low, Modest and High Cost Schools

While after medical school we have a long list of accommodating opportunities for physicians, I would prefer if students knew what they got into from the beginning.

If you go to medical school over the next four years, you are likely to leave with a student debt of between $150,000 and $500,000. It’s a huge range. However, note that virtually none of the enrollment figures summarized below include the cost of credit origination fees, increased interest during medical school, and rises in tuition / cost of living.

So, if you have not already joined medical school, multiply by 25 percent the numbers in the tables below to get an idea of how much debt you will have when you graduate.

If you already have medical school debt, see if you agree with the ratings of our medical school by how much your financial future will be harmed.

Amazing Value: Free Medical Schools

School Cost of attendance estimates (4 years)
Cleveland Clinic Lerner COM Living Costs Only
NYU COM Living Costs Only

The Cleveland Clinic Lerner College of Medicine of Case Western Reserve University has offered free medical school tuition for about 10 years. The only catch is that they only have about 30 spots per class.

However, when NYU announced the elimination of tuition this summer, “Free Medical School” became a category. The media became crazy about the exciting announcement from NYU that they would not charge tuition anymore. Other prestigious medical schools with reduced tuition and scholarships appear to be moving in a similar direction.

The biggest drawback for “free tuition medical schools” is that you may still have to borrow to pay for living costs. Many of these well-known medical schools are situated in expensive cities. Therefore, you may still need a $100,000 to $150,000 student loan plan, even without tuition. After all, it is not cheap to rent in NYC.

Lowest cost med schools: in-state, public colleges of medicine

For whatever reason, for people in the region, Texas has a lot of low-cost medical schools. There are also competitive in-state tuition rates for obscure states like New Mexico and West Virginia. Ironically, a scenario where a NYU med student leaves with more student debt can be seen, even with $0 tuition than a Texas Tech student with about $20,000 tuition. The justification for this is the cost of living rates.

Even if you get free or almost free tuition at a prestigious medical school, you’ll still have to borrow to cover living expenses unless you’ve already saved money. When you pay average rent in a major coastal town of $2,000 a month, fly a little to visit friends and family, go out to eat and drink with friends, and go out on school dates, you’ll probably have to take out $40,000 a year of loans.

Nonetheless, if they work cautiously on a budget, some borrowers might come out with as little as $125,000 to $150,000 in medical school debt.

If you are unable to get a scholarship to a prestigious medical school, the next best thing is to go to a low-cost alternative in the state.

School Cost attendance estimate (4 years)
Texas Tech University HSC $150,704
University of New Mexico $158,852
Marshall University (WV) $189,693

Tolerable: in-state, modest cost medical schools

You get into the tolerable center when you reach the incredible $15,000 to $30,000 range for ultra low-cost public medical schools. Most public medical schools in state residents will have significantly lower costs. This is largely because they receive funding from their state legislatures from public universities. While these contributions have fallen as a percentage of college income, they are still substantial.

Because state taxpayers contribute to these incentives, they are limited to schools in state residents. Expect annual tuition up to an average of $35,000 to $45,000 per year in the tolerable middle range. While this debt would take a while to repay in a lower earning profession, on a budget in less than 10 years you could definitely achieve debt freedom.

School Cost attendance estimate (4 years)
University of Iowa (Carver COM) $237,030
University of Florida $263,704
University of Michigan $251,910

Higher cost: out of state public colleges of medicine

It will cost you about the same amount of money as a private medical school to go to a public medical school outside the government. Consider paying $100,000 to $150,000 more over four years compared to the in-state rate.

Public universities see students from state graduates as a source of great benefit. Sure, going to a public medical school out of the state is a better choice than attending a medical school for benefit. If you’re trying to choose between a medical school that’s out of state or the Caribbean for-profit, go out of state choice with the government.

A good reason of chosing an out of state public school over a private school is the possibility of getting in-state residency after a couple years and getting the in-state tuition rate.

School Out of state costs (4 years)
University of Kansas $367,564
University of Utah $378,304
The Ohio State University $357,596

Read Also:

How can private med schools charge this tuition?

The only reason private med schools don’t get ranked as the very worst in terms of cost is that they often have large endowments they use to discount the price of attendance. For example, Feinberg School of Medicine at Northwestern University lists a total cost of attendance of $358,407 for all four years, according to their website.

However, they list the average med school debt for their Class of 2017 at $181,463. This figure is almost half of the current listed price. However, if you attend a private school like this, expect shenanigans with accounting that obscure what you’ll really obtain in debt if you don’t receive a grant or scholarship.

For example, look at how Northwestern lists the budget you should plan for.

6 Types of Med Schools Ranked by How Much They Hurt Your Finances


The budget does not include a single four-year 12-month cycle. Med school calendars through run over 10 or 11-month periods, but the last 12 months have been human beings and rental contracts.

Therefore, if you believe their reported attendance price, you will immediately add a low five-figure amount to cover the rent, transportation, and living costs during the months that they did not cover in their budget. And all the high-cost private medical schools which reported attendance costs are close.


For example, you have to pay thousands in loan origination fees every year of medical school. Among their tuition charges, Vagelos College of Physicians and Surgeons at Columbia University does not mention this.

Here is a list of some private medical schools with high costs. In reality, if you go to one of those big names, high-cost schools will expect to have more than $400,000 in debt at graduation without any of the generous grants they sometimes provide. Hold these estimates in mind that they do not reflect changes in tuition or accrued interest that you will build up over four years.

School Costs of attendance estimates
(4 years)
Colombia University $382,747
Keck School of Medicine (USC) $393,697
Feinberg School (Northwestern) $358,407
University of New England (osteopathic) $344,140

For-profit medical schools: a growing trend

For decades, medical school accreditation bodies have prohibited medical schools for profit. That’s why for-profit colleges like Ross University and St. George’s University are based outside U.S. jurisdiction in the Caribbean. The American Bar Association, however, lost an anti-trust lawsuit targeting law schools for benefit in the 1990s. In fact, the court found that the ABA was not entitled to withhold accreditation solely because of the existence of a law school for profit.

The tradition has changed the rules of medical school governing bodies. In the mid-2000s, the liberalization of student loan lending eventually comforted investors enough to move in to open new medical schools for profit. Most of these new schools, for whatever cause, are osteopathic rather than allopathic. A large number of primary care physicians graduate with DO degrees from osteopathic colleges rather than MD degrees.

Many of these organizations seek to fill their populations with a particular need, such as providing more primary care practitioners in rural areas (such as the new school in Idaho). Ironically, many of these medical schools have projected tuition costs that are smaller than the highest non-profit medical school rates.

I’d underestimate this lower sticker price for a few reasons:


  • A for-profit medical school is more likely to drastically increase tuition
  • For-profit medical schools is less trusted because their incentive structure is organized around rewarding investors
  • You will likely have a harder time getting top residency slots coming from a for-profit medical school
  • Four-year completion rates will be lower at a for-profit medical school than a more prestigious counterpart
  • You are much less likely to get a major scholarship or grant at a for-profit medical school (after all, it’s for profit)

Your expected debt-to-income ratio is one of the most important factors in choosing the right student loan plan for a new doctor. If you go to Columbia University, you may have a medical school debt of $400,000, but you have a better chance to match up to a residency for orthopedic surgery.

If you’re going to Rocky Vista College, you’re much more likely to have a specialty in primary care. When you make $400,000 as an orthopedic surgeon, it’s much easier to pay $400,000 in medical school debt than if you were a family medicine doctor making $180,000 a year.

The University of Ross and the University of St. George are also options for competitive medical schools. They are located in the Caribbean, although right now after the hurricane they experienced, Ross is going through some relocation movements.

If you have a lot of debt from medical school but no degree, it’s a big waste of time and money. Therefore, even if you end up with more debt, there is little question that at an expensive private medical school, not for profit, you’re better off than a medical school for profit.

School Costs of attendance estimates
(4 years)
Rocky Vista University $371,875
California Northstate University $368,659
Burrell College of Osteopathic Medicine $320,660
Idaho College of Osteopathic Medicine $302,600

What did you think of our medical school rankings?

Have you come out because of what you felt you’d be in the debt of medical school? What advice would you give to current medical school applicants on what to look for when you try to decide where to go? Where are these courses in the ratings of your medical school?

What did you think of our medical school rankings?

If you have a medical school debt in excess of $100,000 and want a plan for it, just reach out and we can tell you how our service works to see if it fits you well.

Are you wondering how to reduce debt from medical school? No matter what you owe, the good news is that you can manage your money wisely, afford retirement, own a home, take a nice vacation, etc. The direction is narrower than the larger amount of debt you have, but it is possible.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *