Tuition continue to rise??

[TR4N23MED]

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Are any of you guys concerned that the tuition for med school will continue to increase each year? I'm going to LMU-DCOM next year and it is one of the cheaper schools, but there comes a point where the tuition will easily eclipse the $50k mark during my four years there. How do you guys swallow the fact that many of us will be greater than $350k+ debt before residency? Man, I feel sorry for my younger siblings...

 

[deleted480308]

As long as fafsa keeps letting us sign for loans, people will line up until the money doesn't make sense (google law school application decline)....but we clearly aren't there yet so the schools will keep upping the price

 

[IslandStyle808]

I'd be able to swallow that fact better if salaries actually went up accordingly, but I doubt that.

 

[musicswimlife]

Yes, it is some pretty scary stuff. Becoming a doctor is a huge investment, there is unfortunately no way around it 🙁 . This is exactly why someone shouldn't want to become a doctor just for the money. There are just to many sacrifices and they are only worth the while if you are certain that becoming a doctor is something you will feel happy doing the rest of your life 🙂

 

[TR4N23MED]

As long as fafsa keeps letting us sign for loans, people will line up until the money doesn't make sense (google law school application decline)....but we clearly aren't there yet so the schools will keep upping the price

-I agree with you. I think once tuition reaches about $90-100k (which I hope doesn't happen) then you will start seeing a decline in applicants.

-It's funny how DO schools recommend and encourage students to go into primary care, yet they make it very difficult for us to pay the debt back as a primary care physician with the outrageous tuition hikes each year!

 

[cliquesh]

Yes, it is some pretty scary stuff. Becoming a doctor is a huge investment, there is unfortunately no way around it 🙁 . This is exactly why someone shouldn't want to become a doctor just for the money. There are just to many sacrifices and they are only worth the while if you are certain that becoming a doctor is something you will feel happy doing the rest of your life 🙂

Yep, it's pretty awful if you don't like it.

 

[allantois]

-I agree with you. I think once tuition reaches about $90-100k (which I hope doesn't happen) then you will start seeing a decline in applicants.

-It's funny how DO schools recommend and encourage students to go into primary care, yet they make it very difficult for us to pay the debt back as a primary care physician with the outrageous tuition hikes each year!

Moreover, AACOM allows DO schools to establish unreasonable deadlines for paying unthinkable deposits.

 

[chizledfrmstone]

I think my school is the only one that actually lowered tuition by 1% for next year. Two years ago they either kept it the same or lowered it 3%. I'm hoping it will stay sub $47k by the time I finish medical school.

AZCOM and CCOM are going to break the $60k barrier soon. If people are willing to pay $80k/year to go to dental school then $100k/year for medical school isn't so far fetched.

 

[swolebrah]

This is another reason I hope I get into my instate medical schools.

 

[AlteredScale]

As long as there are no news of doctors defaulting on their loans after medical school, I feel okay.

It's still a VERY risking process to invest this much money in your education, so I agree that no one should go into this profession "for the money" (more like "for the debt" if we are being realistic.

 

[user3]

schools should start publishing 4 year tuition schedules for entering students.

 

[SpartanWolverine]

As long as there are no news of doctors defaulting on their loans after medical school, I feel okay.

It's still a VERY risking process to invest this much money in your education, so I agree that no one should go into this profession "for the money" (more like "for the debt" if we are being realistic.

Thankfully that at least says that physicians are moderately capable of managing their money... but maybe we do need news of doctors defaulting on student loans? I feel like the public is all too ready to think that we're popping out of medical school into lucrative jobs with millions in the bank in no time (and not understanding the magnitude of debt facing the current generation of students). Accordingly, there's little public support when it comes to lowering medical school tuition.

... though I guess we really can't complain when our vet friends are racking up even more debt and making half (or less) the income...

 

[AlteredScale]

Thankfully that at least says that physicians are moderately capable of managing their money... but maybe we do need news of doctors defaulting on student loans? I feel like the public is all too ready to think that we're popping out of medical school into lucrative jobs with millions in the bank in no time (and not understanding the magnitude of debt facing the current generation of students). Accordingly, there's little public support when it comes to lowering medical school tuition.

... though I guess we really can't complain when compared to our vet friends racking up even more debt and making half (or less) the income...

That is so very true. I guess we will so how much impact "DO on the Hill" had in terms of lobbying to soften the blow of student loans and to provide more funding to schools so that they can lower tuition

I can understand the public point of view though. Post-residency we end up at the upper end of income...but we've borrowed a ton so it doesn't really mean much!

 

[SpartanWolverine]

I mean, can you believe that tuition has gone from the equivalent of ~$8k/~$22k (Public/Private) to $35k/$54k in less than 30 years? Pretty steep increase.

So yeah, I'm a bit more concerned for students to come in the future if that trend continues... but I think we are currently at the point where it's becoming a major (though not insurmountable) hurdle for out futures.

Unfortunately, I see no reason why tuition won't continue to outpace inflation.

 

[SpartanWolverine]

That is so very true. I guess we will so how much impact "DO on the Hill" had in terms of lobbying to soften the blow of student loans and to provide more funding to schools so that they can lower tuition

I can understand the public point of view though. Post-residency we end up at the upper end of income...but we've borrowed a ton so it doesn't really mean much!

Haha yeah. I'm not expecting much from the lobbying body -- but we can hope!

But really, those vets with $300k+ debt and $70-90k salaries... Who else will take care of your sushi cats?!

 

[TR4N23MED]

Haha yeah. I'm not expecting much from the lobbying body -- but we can hope!

But really, those vets with $300k+ debt and $70-90k salaries... Who else will take care of your sushi cats?!

Sometimes it's comments like yours that make me feel better about getting into medicine...and at the same time comforts me in understanding that other professions have it much worse :/

 

[SpartanWolverine]

Sometimes it's comments like yours that make me feel better about getting into medicine...and at the same time comforts me in understanding that other professions have it much worse :/

Yeah, it's almost sickening... they basically have more than double the debt/income ratio we do.

"And the cost of vet school has far outpaced the rate of inflation. It has risen to a median of $63,000 a year for out-of-state tuition, fees and living expenses, according to the Association of American Veterinary Medical Colleges, up 35 percent in the last decade. This would seem less alarming if vets made more money. But starting salaries have sunk by about 13 percent during the same 10-year period, in inflation-adjusted terms, to $45,575 a year" Source.

But sorry, I'll stop derailing this thread with vet-talk!

 

[kalat]

Sometimes it's comments like yours that make me feel better about getting into medicine...and at the same time comforts me in understanding that other professions have it much worse :/

Not many that have it worse as far as raw debt load, but I'd be interested to see the list as far as repay ability is concerned. Law and veterinary school would be up there but I can't think of much else off the top of my head. How is dentistry these days? Maybe some other things like podiatry, chiropractic, social work, etc.

 

[Awesome Sauceome]

Its no problem if docs default from their loans, or heck dont even graduate.

There is a healthy army of NPs and PAs that are "cheaper" that will carry the burden of American healthcare.

 

[deleted480308]

Its no problem if docs default from their loans, or heck dont even graduate.

There is a healthy army of NPs and PAs that are "cheaper" that will carry the burden of American healthcare.

Except when states like oregon legislate that they get paid at the same rvu rate

 

[Awesome Sauceome]

Except when states like oregon legislate that they get paid at the same rvu rate

Ohh it was total sarcasm. Because even in states where they are paid at 85%, they end up costing more because the studies have shown that you have to hire usually twice as many to cover a physician's shift and because they end up doing unnecessary tests.

 

[AlteredScale]

Haha yeah. I'm not expecting much from the lobbying body -- but we can hope!

But really, those vets with $300k+ debt and $70-90k salaries... Who else will take care of your sushi cats?!

I mean we can always go outside for vet work right?! I wonder how it is in Canadia in terms of income for veterinarians!


The sushis cats don't complain much actually. The seaweed wrapper holds them down pretty well and the rice cake acts as a shock absorber if I accidentally drop them or anything. 😉

 

[chizledfrmstone]

I mean, can you believe that tuition has gone from the equivalent of ~$8k/~$22k (Public/Private) to $35k/$54k in less than 30 years? Pretty steep increase.

So yeah, I'm a bit more concerned for students to come in the future if that trend continues... but I think we are currently at the point where it's becoming a major (though not insurmountable) hurdle for out futures.

Unfortunately, I see no reason why tuition won't continue to outpace inflation.

I would love to pay $8k-$22k.

That's like a few weeks of pay for an attending.

 

[68quebec]

It's outrageous. My wife's school just increased their tuition AGAIN by 3% (it's worldly known private school in NC). But guess what? no matter how much they raise the tuition, students will still come. I will do exact same if I were a CEO/Principal of private schools.

 

[TR4N23MED]

This is another reason I hope I get into my instate medical schools.

Yeah, I really hope I sneak a spot into my provincial med school in Canada. Tuition is only 8k per year!

 

[nontrad78]

Yeah, I really hope I sneak a spot into my provincial med school in Canada. Tuition is only 8k per year!

i wouldn't be so hard on your home school. 😉

 

[TR4N23MED]

i wouldn't be so hard on your home school. 😉

I don't get what you mean...
EDIT: Okay, I looked up the definition of "provincial"... In Canada, provinces are equiv. to states used in the US to define regions of the country, LOL. Good eye

 

[xBODOMx]

I think my school is the only one that actually lowered tuition by 1% for next year. Two years ago they either kept it the same or lowered it 3%. I'm hoping it will stay sub $47k by the time I finish medical school.

AZCOM and CCOM are going to break the $60k barrier soon. If people are willing to pay $80k/year to go to dental school then $100k/year for medical school isn't so far fetched.

Actually AZCOM's dental school will easily land you in 450k+ debt. Tuition is 70k alone and they have about 5k-10k each year in clinic/tool fees. Their tuition will be 60k+ this year, which brings their CoA to about 93-95k for DO school.

 

[SpartanWolverine]

Actually AZCOM's dental school will easily land you in 450k+ debt. Tuition is 70k alone and they have about 5k-10k each year in clinic/tool fees. Their tuition will be 60k+ this year, which brings their CoA to about 93-95k for DO school.

... and I thought the average of $195k at my state DO school was bad...

Edit: fun fact... pretty much anything over $200k indebtedness gets your school near the top ten. Though I think this number will only keep going up!

 

[nontrad78]

I don't get what you mean...
EDIT: Okay, I looked up the definition of "provincial"... In Canada, provinces are equiv. to states used in the US to define regions of the country, LOL. Good eye

i knew it was because of canada, but i just couldn't let it go. glad you were able to get it.
i'm heading DCOM way as well this summer.