How To Get Yourself A Medical School Loan
Nowadays, there are loans aplenty for students of almost any kind of subject. You just need to know how to apply and how much to apply for. Medical students have innumerable private student loans available to them. This is mainly thanks to their earning potential, and the fact that few students leave medical school before getting their MD.
Borrowing limits vary by lender, but most lenders offer up to "full-expense less aid". This “full-expense" can sometimes defined rather liberally. There are also unsubsidized Stafford Loans (Federal Student Loans) available to medical students. However, ensure that you get competitive rates for your loan, as a physician’s salary growth is quite slow, at least initially. Studentdoc.com reports:
Medical school loan debt, especially high-interest rate debt, is a growing problem. The AAMC (1) recently reported that over the past two decades, the cost of private medical schools has risen 165% and the cost of public medical schools has gone up 312%. A similar study by the AMA (2) found that medical school costs have been increasing at a faster clip than inflation. On average, medical students graduate with about $100,000 in debt.
Read more: Medical School Loans