Sep 15, 2017
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I was recently doing some math trying to calculate how much medical school actually costs, and the answer is kind of surprising. Assuming a student needs to borrow $60k per year in medical school and pays off the loans five years after residency, the student will spend approximately $360,000 on medical school, even though they only borrowed $240,000. Interest adds up quick!
 

Soccer171983

living the dream
7+ Year Member
Aug 4, 2011
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Las Vegas
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Attending Physician
I was recently doing some math trying to calculate how much medical school actually costs, and the answer is kind of surprising. Assuming a student needs to borrow $60k per year in medical school and pays off the loans five years after residency, the student will spend approximately $360,000 on medical school, even though they only borrowed $240,000. Interest adds up quick!


That is not a surprising number. Depends if you have loans from undergrad as well which will pile on as well.


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themightyquinn

2+ Year Member
May 16, 2017
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Medical Student
Assuming a student needs to borrow $60k per year in medical school and pays off the loans five years after residency, the student will spend approximately $360,000 on medical school, even though they only borrowed $240,000. Interest adds up quick!
And $60K a year is kind of on the low side...
 
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