hi, I wanted to know how much does an average medical degree cost in the US for a foreign student. Also if a person is an American citizen, does the American government pay for their education by giving the student a loan and then the student pays the loan once they graduate and start working and their salary exceeds a certain threshold amount or does an American citizen also still have to pay for their education? and if they do how much? thanks in advance
M-D
The total cost of medical school in the USA is about $50,000 to $67,000 a year. You can apply for loans from the government if you are a USA citizen. If you are working and the salary threshold is over a certain amount you can not get Stafford Loans or Perkins Loan, but you maybe get PLUS Loans from the government. Also with PLUS Loans you will need a good or excellent credit score, no bankruptcies, and not in default on any government loans( including student loans) to get these from the government. If you do qualify for Perkins Loan you can not go over the $40,000 limit over a lifetime, including undergraduate years of college, and has a 5% interest. With Stafford Loans the limit is $138,500 a lifetime, and has a 7% annual percent rate. PLUS Loans are usually awarded if you need more financial need after exhausting Perkins and Stafford Loans amount, also can borrow up to the total cost of education, and has a 8.8% annual percent rate. For more information you can go to FAFSA: Apply for Aid | Federal Student Aid
Hi M-D,
We have a student loan program with max of $35k borrowing limit and loan term is 7 years, Borrower must be a full-time, currently enrolled student of XUSOM.
We have a student loan program with max of $35k borrowing limit and loan term is 7 years, Borrower must be a full-time, currently enrolled student of XUSOM.
Does anyone know what the annual cost of tuition increase is on average for most US medical schools?
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