Medical School Tuition And Young Physicians' Indebtedness

Medical school tuition and medical student debt have increased dramatically during the past two decades, but loans are available on favorable terms, which makes it possible for students without personal or family means to get a medical education. As an investment, medical education is an excellent c...

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Bibliographic Details
Published inHealth Affairs Vol. 24; no. 2; pp. 527 - 535
Main Author Jolly, Paul
Format Journal Article
LanguageEnglish
Published United States Health Affairs 01.03.2005
The People to People Health Foundation, Inc., Project HOPE
Subjects
Borrowing
Costs
Costs and Cost Analysis - trends
Data analysis
Debt
Doctors
Education
Education, Medical - economics
Educational sociology
Financing, Personal
Health care industry
Inequality
Loans
Medical education
Medical personnel
Medical schools
Medical students
Medicine
Minority & ethnic groups
Minority students
Parents & parenting
Physicians
Private schools
Public schools
Schools
Students
Studies
Training Support - economics
Tuition
United States
Wages & salaries
United States
United States > US
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Summary:Medical school tuition and medical student debt have increased dramatically during the past two decades, but loans are available on favorable terms, which makes it possible for students without personal or family means to get a medical education. As an investment, medical education is an excellent choice; its net present value is more than a million dollars. Cost is nevertheless a strong deterrent to potential applicants, especially minority applicants. If tuition and indebtedness continue to increase while physician incomes do not, there may come a time when only the wealthy can finance a medical education, and medical schools may have increasing difficulty recruiting qualified students.
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ISSN:0278-2715
1544-5208
DOI:10.1377/hlthaff.24.2.527