Im just stating facts here. Going to TouroCOM and taking out loans to pay 100% of your 4 years there will leave you in debt >$300,000 (average debt for med student is $176,000). Would this not make anyone scared? This is not even taking consideration of the interest rate.
This article explains it best:
http://www.bestmedicaldegrees.com/is-medical-school-worth-it-financially/. Just because it is the "norm" to pay an insane amount of money for medical school doesn't mean it's right.. If you take out >$300,000 (which is really >$450,000 with a modest 10% interest rate) and are not afraid...then you're not in reality. It's best to not be naive about it and know what you're getting yourself into before starting medical school. Also, I brought this issue up because I'm applying for medical school as well and was wondering if there were any students out there who had any sort plan to pay for their med school without having to pay 100% of it based on loans. The rise in medical school debt is just outrageous...only 40 years it ago the med school debt was only $13,469, which translates to only $48,000 with today's dollars (source:
http://www.bloomberg.com/news/artic...-278-000-means-even-bernanke-son-carries-debt). We shouldn't be numb to it and ignore it by just saying "med school's been always expensive and so who cares? just take out the loan, go to med school, and we'll pay it off later".
No, your "facts" don't necessarily belong on this page and appear as though they are trying to scare people, as opposed to rallying them. Your interest rate of 10% is not modest but actually high. The average debt is clearly rising, as are all tuition costs in this country, not exclusively for medical school. If you feel the need to do something about it, I don't believe scaring people that made it to the school is the right approach.
TouroCOM's tuition outline is relatively upfront and allows ~$20,500 for living.
NYIT COM offers $54,000 just for tuition (without any fees or living -
http://www.nyit.edu/tuition scroll all the way to bottom), whereas TouroCOM is ~$48,000 without fees. So, with an apartment and the car that is almost a necessity to realistically get to campus daily, that should start being right in the neighborhood of TouroCOM.
NYU Med offers very similar pricing model -
http://www.med.nyu.edu/school/admissions/fees-and-financial-aid. They only suggest~$14,000 a year for living... which seems definitely on the low side for the city.
Even looking outside of NYC, at KCU,
http://www.kcumb.edu/uploadedFiles/Content/Admissions/Paying_for_Your_Education/BudgetGuideCOMY1.pdf states that first years will pay around ~73k living off campus.
The average national debt will rise for med students. If you genuinely want to become a physician, the loans will not scare you. They should motivate you to succeed and learn how to properly manage your personal finances. Even if all this is not satisfying, there are cheaper options for med school out there (like LECOM) and if that's the most important factor then that should be a personal decision made without projecting your insecurities onto other people.
For some insight on how to potentially deal with these loans in the futures, you can start reading blogs or forums like The White Coat Investor or even just look through the SDN forums. I am sure many people had these concerns before.