How Much Does Medical School Actually Cost

[Doctor_Honey_Bear]

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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]

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]

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...