someone explain this chart

[drhansolo]

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hi guys..
i understand that most medical schools are in the $30k range..
but why do most osteopathic graduates have the most debt?

http://www.usnews.com/usnews/edu/grad/webextras/brief/sb_med_debt_brief.php

does that mean osteo graduates are more in debt due to poor residencies?
just curious.

 

[DrBowtie]

I'd say due to less grant money available from the schools.

 

[DrMom]

Tuition is higher at many DO schools (largely because they are private).

Also, a higher proportion of DO students are non-traditional. This can lead to borrowing more $$ to support your family.

 

[scpod]

does that mean osteo graduates are more in debt due to poor residencies?
just curious.

Debt has nothing to do with residencies. Debt depends on how much it costs to attend medical school. For a number of reasons, which have already been discussed plenty of times, it generally costs more to attend osteopathic schools than allopathic schools.

 

[MCATTT]

Med school students spent $$ for only 4 years. When doing residencies, you get paid some amount. Isn't it?

This question is ridiculous, but I will ask it anyway.
Does it cost when going into specializing?

 

[Protease]

Don't pay any attention to US News, they didn't site how they got their figures, for all we know, they surveyed 5 people from each school.

If you go into primary care there are scholarships geared for reducing your debt and there is always the military option, which I personally advise against, but its your decision.

The amount of interest incurred will matter based not on your residency income, but your post-residency income, since those who specialize on average make more than those in primary care and can contribute more to loan repayments.

Don't concern yourself with the debt you will have, concentrate on getting in first, worry about debt repayment when you actually are working. Good luck on your endeavor.

 

[DropkickMurphy]

Tuition is higher at many DO schools (largely because they are private).

Also, a higher proportion of DO students are non-traditional. This can lead to borrowing more $$ to support your family.

These would be the primary reasons.

 

[drhansolo]

thanks for the quick replies.
that frees up my concerns

 

[Orthodoc40]

Med school students spent $$ for only 4 years. When doing residencies, you get paid some amount. Isn't it?

This question is ridiculous, but I will ask it anyway.
Does it cost when going into specializing?

You get paid a small salary as a resident, that goes up a little bit each year.
The way specializing costs you is that you are spending more years in residency, making say, $40k, instead of making the $140k - or more - when you're out. So then you're also spending more time in debt, maybe accruing further interest on loans - depends on your situation...

 

[MCATTT]

You get paid a small salary as a resident, that goes up a little bit each year.
The way specializing costs you is that you are spending more years in residency, making say, $40k, instead of making the $140k - or more - when you're out. So then you're also spending more time in debt, maybe accruing further interest on loans - depends on your situation...

Thank you for the explanation.
So basically you will not be paying anything to schools while doing residency or specializing.

 

[MahlerROCKS]

hi guys..
i understand that most medical schools are in the $30k range..
but why do most osteopathic graduates have the most debt?

MD graduates at top programs like Stanford, Duke, Cornell and Dartmouth generally have less debt for two reasons: these schools have large endowments and the students are generally more affluent.

All top private research universities, such as the ones listed above, have large endowments, and thus large reserves of financial aid available for their students. However, I cannot comment whether or not the overall university endowment subsidizes financial aid at these med schools, or whether instead they have, or have in conjunction, freestanding endowed gifts from alumni that exclusively provides funds for med students. Reguardless of the endowments of the top schools, less established private med programs, both allopathic and osteopathic, do not have the financial resources to provide as much financial assistance because they either have small endowments and/or they have not had alumni donate large, specialized scholarships.

The second issue is that the top schools also generally admit students from the top universities and liberal arts colleges, most of which are private institutions. Thus, these students likely had the initial family resources to be able to afford a top, private undergraduate school, and likely, they can expect their families to continue to support them in medical school as well. This situation of course would result in students graduating with a lower debt load.

 

[DrMom]

Thank you for the explanation.
So basically you will not be paying anything to schools while doing residency or specializing.

right

 

[MadHopsMD]

I dont think there are any DO schools that offers scholarships are there? I think all public schools and some top private schools offer "FREE RIDES" scholarships to select students. Never heard of a DO school doing the same. I think this along with non-traditional students borrowing more, could be the biggest factor.

 

[FS-Pro]

I dont think there are any DO schools that offers scholarships are there? I think all public schools and some top private schools offer "FREE RIDES" scholarships to select students. Never heard of a DO school doing the same. I think this along with non-traditional students borrowing more, could be the biggest factor.

There are DO schools that offer full scholarships, atleast at my school. They also offer plenty of half or quarter scholarships as well.

 

[DrMom]

I had a large scholarship (approx 2/3 tuition) from my school.

 

[MCATTT]

do you have to apply for scholarships or they just give it to you based on your stats?

I am particularly interested for NYCOM since it is too expensive.

 

[DrMom]

depends on the school & scholarship. once you have an acceptance, you can talk to the fin aid folks at that school & see what's available.

 

[Doctor Bagel]

I'd say due to less grant money available from the schools.

Exactly. The super prestigious schools have great financial aid, which is why their debt level is so low. From what I've observed, the private osteopathic schools don't offer much money in scholarships or grants.