High Debt For Medical Students


The debt that medical students carry is at record high levels and rising.  86 per cent of medical students had a debt of about $170,000 after earning their M.D. degrees, according to a new study by the Association of American Medical Colleges. This is an increase of 5 percent over last year.

Medical Student Debt

 

 

 

 

 

Pay Later Approach

Medical students are certainly  aware of the high cost when they enroll and borrow money, but interest on deferred repayment is staggering.  And it’s not clear that students are aware of the options they have.  The new study lays out the numbers starkly. If a student does not start to pay down a loan during residency and waits until he or she is finished with school, with the interest, they  may owe between $320,000 to $476,000.

The chart below tells all:

Medical Students Loans with Interest

 

 

 

 

 

Published by

Barbara Nevins Taylor

As the winner of 22 Emmy Awards and a slew of journalism honors and awards, I created ConsumerMojo.com to give you the straight story about complicated stuff. Tell us what you want to know and we'll get you the answers.