Average Medical School Debt
If debt continues to outpace the cost of attendance at the present rate, the average medical student debt will exceed $300,000 by 2024
With the rising costs of tuition the average medical school debt has skyrocketed over the last 20 years, surpassing the law school debt by a whopping 74%. This makes many potential medical professionals hesitant to practice in areas where they may not make as much money, such as low-income cities or rural towns which are already underserved.
Key Highlights:
- The average debt among medical school graduates is $241,600
- 80% of medical school students graduate with education debt
- 43% of medical school graduates have undergrad debt
- Each year, medical school graduates owe an additional $4.3 billion in loans