I'm an Italian Student living in Italy, precisely in Naples, and I'm attending the first year (II Semester) at the SUN (Second University of Naples) that offers medicine course totally in english for foreigner students like you. Of course there are other Universities in Italy that offer the same, but I don't know about the quality of the studies... (I've never got information about the english course outside Naples) The living-price is not so high as you may think, about food and other stuff, for example a student room costs about 200/300€ per student each month wich is not so high (comparing to other cities and considering the apartments), food prices are manageable too (Cheaper than the rest of the Country). The university text are the real pain; they are REALLY EXPENSIVE! A book like the "Gray's Anatomy" that is used and suggested by our professors for the Anatomy Exams is REALLY EXPENSIVE (220€ but they "give you for free" the Netter in the price!). Taxes depends on your economic status, but generally (even if you're really rich) you can't spend over 3000€ per year for University Taxes (which is quite good for me... I can't imagine any other university outside Italy that offers a medical formation for a "low price"). Of course these informations are referred to my University and my course (which is the italian one) so they might be a little different for the english course.
If you're interested in SUN, I can ensure you that Professors are great and the structures of the University are quite good, especially comparing to the other Naples University wich I've attended before passing to SUN. If you need other informations, just tell me here.
Sorry in advance if I've made some "grammar" mistakes... :\
EDIT: I found this website that may clear your doubts:
http://medschool.it/
