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Medical Student Debt Rises by 6 Percent

Medical students graduating in 2005 confronted an average debt level that was 6 percent higher than that held by 2004 graduates. This percentage increase was the same for both osteopathic and allopathic medical school graduates.

2005 Osteopathic medical school graduates reported average (mean) educational debt of $149,800 per person, an increase of 6 percent over the debt total of $141,500 reported by 2004 graduates. This debt load includes both medical school and undergraduate education debt. The mean is based on all reporting graduates, including those who reported no education debt.

…The corresponding debt load for 2005 allopathic medical school graduates was $105,099, an increase of 6 percent over the 2004 average debt total of $98,801. Debt reported by graduates of osteopathic colleges is 43 percent higher than debt reported by graduates of allopathic colleges. This difference is partially accounted for by the difference in public support for osteopathic medical education. In 2005, 25 percent of osteopathic medical colleges were state institutions, whereas 75 percent of allopathic colleges were publicly supported. Public osteopathic and allopathic medical schools typically have significantly lower tuition than private medical schools.

Reported debt among osteopathic medical school graduates also varied by race/ethnicity, with Asian-American students reporting the lowest mean debt load—$127,000—and underrepresented minority racial/ethnic group members reporting the highest mean debt, at $158,800.

While debt reported by graduates rose by 6 percent from 2003-04 to 2004-05, the tuition increases over the same period totaled 4.4 percent for students at private colleges, 25.8 percent for state residents at public colleges, and 9.4 percent overall.



September 28, 2007 - Posted by | Uncategorized

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