You are actually a bit low. With fees, the cost is now $86,280 per year. This is absolutely mind boggling.
Cost of attendance budget for Chicago College of Osteopathic Medicine.
www.midwestern.edu
For people living off campus, the additional cost of attendance is $40 k for the first year, $37K for the second year and over $50K for the third and fourth years. The total cost of attendance for people living off campus would be $524,000. If a CCOM student borrowed the first $40k at 8% and the balance at 9% every year and then let the interest cook through med school and a three-year residency, the total obligation would be $830,000 at the end of residency. If that former student and now board certified internal medicine physician landed a $220,000 per year job in Michigan and was able to refinance the loan at 6% over 25 years, his or her monthly debt service payment would be $5,350 per month or $64,200 per year and that would equal approximately 42% of that physician's after tax income of $153,600. I'm sure people can quibble about my calculations, but they are directionally accurate.
This is why I go crazy every time I see people post about the regimentation at LECOM. Here are the cost of attendance estimates at LECOM Erie
LECOM Erie Campus Tuition and Fees for the College of Osteopathic Medicine program. Read about the other charges along with tuition rates.
lecom.edu
If you assume that a LECOM student has medical insurance through his/her parents, then the total cost of attendance is $308,000 over four years and using the interest rates detailed above, the total bill after residency would be $480,000 and the monthly debt service would be $3,100 or 24% of after tax income in Michigan. Are water bottles, shorts and goofy tee shirts for four years worth $2.250 per month for 25 years?