The high cost of medical school education is a real challenge. This challenge has made many top-performing students turn down acceptance letters into Ivy League institutions, for a lower-priced one that they know will not carry high levels of debt when they’re done. This high level of debt for medical students is a real issue. On average, medical students upon graduation are carrying more than $250,000 in loans. With such a high level of loans that have to be paid back, graduating medical students will be in debt for decades.
What also has to be kept in mind, is that the whole entire pricing structure within the American medical field is being flipped on its head! Not only are subjects such as universal healthcare making new inroads in the United States medical infrastructure, but also America’s high level of job loss, issues of social responsibility, as well as the country’s debt. All of these issues are having a huge effect on the medical industry. Those of desire to study within the medical field, have to take a 360° comprehensive look to ensure that it will be a good investment in the future for them.
Not only do they have to ensure that they will be able to pay back the loans that they are taking out to acquire their education, but also if changes within the country’s institution will make it easy or difficult for them to pay back those loans. Currently, the medical system in United States is in great flux. The current disagreement that is so great that it has shut the American Federal Government down, has much to do with the changes that are occurring within American Healthcare. Keep in mind, that for many decades when Americans thought about becoming a doctor, they thought about a profession that would pay “a lot”! Without doubt, doctors will always do very well financially. However, what is being called into question at this current time, is just how much that will be?
Also, from a macro-global perspective, the United States will have to be competitive and provide easy access to healthcare for its citizens if it will be a will to compete with other countries around the world. For example, many countries such as Germany, France, Great Britain, Canada, and many others offer Universal Health care to their citizens. The Universal Health care issue is one that is common in other countries, but not so in the United States. This appears to be shifting and only time will tell just how great that shift will be.
Also, some of the principles on this LIST of ”10 Big and Small Ways to Save Money on College“ will still apply to Med Students.
As time goes on, hopefully “The High Cost of Medical School Education” will become a thing of the past. With the pricing structures within the medical healthcare field appearing to be shifting downward, maybe the price to attain medical school education will do the same! In truth, Americans will always feel the pinch until there is in place, comprehensive Universal Healthcare, as well as Universal Education from the nursery school beginnings, all the way through the PhD level as well. The new federal health-care law has raised the stakes for hospitals and schools already scrambling to train more doctors.
To read more about this, here is a great article: