The median medical school debt is $189,165 according to the Association of American Medical Colleges. While this figure might seem daunting, it’s manageable over time according to many experts. The Association of American Medical Colleges recently published an article titled “Taking the Sting Out of Medical School Debt” and there is fairly extensive information on its website in regard to medical school costs.
Grants and scholarships rarely cover the full cost of attending medical school; most med students take out loans to cover the difference. There are only a few schools which offer “full-ride” scholarships, usually based on merit. Sallie Mae also has helpful tips about paying for medical school.
Medscape recently reported that more medical students are graduating debt free but this is likely due to wealthier students going to medical school, not because scholarship money has increased.
–Liza Thompson, Expert Medical School Admissions Consulting