- The average medical school debt today, according to the Association of American Medical Colleges(AAMC), is $156,456. USA is the only country in the world were future doctors have to bear such a financial burden of their education. That places significant strain on any relationship involving an American medical student.
- $156,456 – According to the Association of American Medical Colleges (AAMC), the average educational debt of indebted graduates of the class of 2009.
- 79 percent of graduates have debt of at least $100,000.
- 58 precent of graduates have debt of at least $150,000.
- Interest accrued on loans over time significantly adds to the total cost of student debt.
- Students are now entering medical school with more education debt from undergraduate education.
- Increasing numbers of “non-traditional” students who have children to support.
Student debt statistics
Why medical education debt has increasedMedical education debt is driven by rising tuition. AAMC data show that median private medical school tuition and fees increased by 50 percent (in real dollars) in the 20 years between 1984 and 2004. Median public medical school tuition and fees increased by 133 percent over the same time period. Other recent 20-year periods show similar trends. Tuition is just one source of increasing debt burdens. Other causes include: