Discuss Latest WCI Blog Post: 19 of the Cheapest Medical Schools in the US

[The White Coat Investor]

If you don't want to graduate from medical school with hundreds of thousands of dollars of student loan debt, here are some viable options.

The post 19 of the Cheapest Medical Schools in the US appeared first on The White Coat Investor - Investing & Personal Finance for Doctors.



Click here to view the article!

[Tangler]

Go cheap! PSLF might last or it might not. I don't expect PSLF will last forever for the "rich doc" but I could be wrong. I would go to the least expensive place I could.

[Tim]

“Unfortunately, you will also discover that almost all of them require you to be a resident of Texas, ”

Just saying, personal opinion has zero place in the “science” of selecting a medical school. For some it is actually fortunate. Depends on where you live. That said, just clarifying that state of residency can be an advantage.

Of all the Texas options, I would not use lowest cost only. The cost difference is marginal. The missions, education and settings are each different. I would suggest even Texas residents research each and rank them as best fit for your career aspirations. Probably the residency match rates give the best measure of the types of MD career path each produces. Drastic differences by the mission of the medical school.

[FIREshrink]

At least when I went to one of the Texas schools on this list, the first year they granted a scholarship (neither need nor merit based) making my net price nearly as low as the in state rate. Everybody got this scholarship. And then after buying a condo, I qualified for in state residency years 2-4. That's what everybody did. I graduated with less debt than I made my internship year.

[Hatton]

I noted that my med school did not make the list. It surprised me. Things have really changed. My first attending car cost more than my medical education.

[Turf Doc]

I wonder how bad it could get before things change. I guess you could reasonably spend 600+ if you chose a high paying specialty and it would be fine. It seems like the AAMC could maybe do something…

[JBME]

At least when I went to one of the Texas schools on this list, the first year they granted a scholarship (neither need nor merit based) making my net price nearly as low as the in state rate. Everybody got this scholarship. And then after buying a condo, I qualified for in state residency years 2-4. That's what everybody did. I graduated with less debt than I made my internship year.

interesting experiment. You make no money as a med student so clearly the advice is you should not buy a house (I mean, how do you anyway given you have no income). But if that's what you need to do in order to establish state residency to get in-state tuition for years 2-4 I wonder if the advice should perhaps be "it depends" instead of "no" depending on how much you'd save in tuition.

[FIREshrink]

interesting experiment. You make no money as a med student so clearly the advice is you should not buy a house (I mean, how do you anyway given you have no income). But if that's what you need to do in order to establish state residency to get in-state tuition for years 2-4 I wonder if the advice should perhaps be "it depends" instead of "no" depending on how much you'd save in tuition.

To be fair, the condo cost $35,000. We were still experiencing post Texas oil bust prices, at one point that condo had cost $200,000 back in the 80s.

But everybody did this at this school, they explained that during the interview. And even the out of state price was cheaper than my in state tuition at my state medical school so it seemed the best choice.

[Marko-ER]

Wow, re: those med school costs! Didn't realize how much they have gone up. Good on you for the "wall of shame", though I doubt it will have any effect on the school, maybe it will on matriculants.

I know the title stated "costs in the USA", and I would never advocate US citizens going to the Carribean for med school education, if you are lucky enough to have dual US - European or Australian, New Zealand, or Singapore citizenship, I *would* strongly consider medical education in select countries there, then transfer over to the US for residency.

[jz-]

I give my medical school and the university pushback against those out-of-touch solicitations for charitable donations.
The solution to high tuitions is to lower the tuition- rather than shake down the alumni.
Meanwhile the school spends money to remove a racist rock: University of Wisconsin removes boulder seen as sign of racism - YouTube

[Lordosis]

Yikes mine went up a ton. I went to a NYS state school. For a decade or more they were locked in at 18,800 a year but my first year they opened that up and by the time I got out it was 35k ish. Now it is like 50K 15 years later!

I never understood the residency requirements. We were told buy or rent you would qualify for in state prices years 2-4.

[Hatton]

I give my medical school and the university pushback against those out-of-touch solicitations for charitable donations.
The solution to high tuitions is to lower the tuition- rather than shake down the alumni.
Meanwhile the school spends money to remove a racist rock: University of Wisconsin removes boulder seen as sign of racism - YouTube

I don't follow how a naturally occuring boulder could be a racist symbol. I had no sound on the clip maybe they explained it. I believe universities need to take a hard look at tuition costs as well as some salaries. The current trajectory is ridiculous.

[G]

My school is on one of the naughty lists. Tuition has gone up in price 3x more than inflation according to an inflation calculator.

Somehow I doubt that the students are coming out 3x better MDs or having 3x better experience

[Hoopoe]

So much can change with financial aid rather than just sticker price. My medical school was about 40k a year before living expenses, but after various need based financial aid, merit scholarships I ended up with a total cost of attendance of about 3k for my final year.

[childay]

So much can change with financial aid rather than just sticker price. My medical school was about 40k a year before living expenses, but after various need based financial aid, merit scholarships I ended up with a total cost of attendance of about 3k for my final year.

So basically chargemaster pricing for school instead of hospitals. Smart I guess. Some ppl are paying full freight though