Thoughts About Changing Med School Cost/Structure

[wisco girl]

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Does anyone have any insight into how the the medical school process might change in the next five years? Both in terms of structure or cost?

A doctor, whom I highly regard and is also highly regarded, mentioned to me that the government has noticed that the cost of medical education and the design of the process is deterring many interested, capable students. He thought that in the near future I would see some changes into how it all works. Can anyone share more details about the idea?

Thanks!!

 

[DrBowtie]

Nothing drastic in the next five years. The climate for medical school costs is becoming more and more unfavorable.

Subsidized Stafford loans have been cut for graduate students and tuition is continuously rising. IBR and PSLF are the only positive changes we've seen but by the time you actually cash in on those programs, they may not be in existance anymore leaving you to foot the whole bill yourself.

Even doctors who graduated medical school 5 years ago had interest rates at 1-3%. We're now at 6.8%-8.6% fixed.

 

[deleted307836]

Even doctors who graduated medical school 5 years ago had interest rates at 1-3%. We're now at 6.8%-8.6% fixed.

Wow, I never realized rates were that low not too long ago 😱.

And isn't it just a recent change that interest starts to accrue during residency? I could be wrong on that.

 

[hefe]

How about changes to the entire educational cost structure in America as a whole?
Med school is simply one facet to this larger problem.

The reset will either be through a massive failure of the funding (loan) system within the US or through technological advances that most can't quite foresee yet. I'm guessing a combination of one then the other.

 

[yankswin2011]

"Does anyone have any insight into how the the medical school process might change in the next five years? Both in terms of structure or cost?"

I don't think the "structure" is going to change much because you still, for the most part, need to take the same basic courses.

I don't think the cost will change because the demand will always be there and for the most part, even at $250K in loans at 6-8% interest rate, doctors can generally pay them back over the long haul.

Unfortunately, medical school won't be on high priority because while doctors with $250K loans seem bad, they at least get a decent salary to pay them back. However, when you see more and more college students(!) graduate with $100K in loans, you HAVE A REAL PROBLEM -- they have absolutely very little chance to pay those loans back -- these will be the students the government will try to help out first. Unfortunately, for the government to do that, they will likely raise taxes for the high income earners (i.e. doctors).

Long story short -- the public will feel bad for college students with $100K loans, but they will unlikely feel bad for doctors (rightfully or wrongfully) with $250K loans, so no, I don't think the costs of medical education will change much.

 

[Law2Doc]

Does anyone have any insight into how the the medical school process might change in the next five years? Both in terms of structure or cost?

A doctor, whom I highly regard and is also highly regarded, mentioned to me that the government has noticed that the cost of medical education and the design of the process is deterring many interested, capable students. He thought that in the near future I would see some changes into how it all works. Can anyone share more details about the idea?

Thanks!!

As with all educational costs it is likely to become more expensive over the next few years. Structurally there is always the push to get more clinical hands-on stuff moved earlier in the curriculum, and more and more places seem to be incorporating PBL/small group settings rather than simply big lectures. I can't see it shortening in length because the quantity of material is going up, not down, if that is what you are asking. As the Steps change, curriculi will be revised to make sure the appropriate things get covered at the appropriate times. The government has not, in fact, noticed a deterrence effect on capable students. They have attacked doctors for making too much money at virtually every turn, and opened the door wider for less expensive midlevels.