How much do you own by going to medical school? Is it around $50,000 or $100,000 dollar? Do medial school offers work study? thanks!
Answer Henry,
It depends on the medical school (private vs state supported) and costs like housing, etc. I had no undergrad loans so started out med school (Medical College of GA a state supported school) with a clean slate... The state of Georgia pays about 60% of the cost to educate a doctor. I did not have any scholarship or military obligation or rural health contract. I worked part time as a lab tech in a molecular bio lab to help offset costs... so I graduated with about $32,000 in loans. My room mate however came to the table with about $50K in loans from a private undergrad. He also incurred some additional $40 to $50K in debt because he did not work. So he walked away with over $100,000 in student loans. I payed my loans off about 3 years ago. You can go the military route, or get a loan pay off contract to work in rural hospitals or under served areas. Those are means to reduce your overall student loan. Also public schools offer the same degree as private schools... so you are an MD no matter if you graduate from Harvard or MUSC or MCG. Only difference being the amount of debt you have.
