Is There Merit in Merit Aid?

Abstract

In 2016, the average cost of attending medical school (including tuition and fees) in the United States was $253,720 for in-state graduates and $313,897 for out-of-state graduates.¹ Nearly three in four graduates had educational debt, and the median educational debt was $190,000.² Average debt related to medical education alone was $167,172.¹ These figures suggest that, without scholarship support, only students with access to substantial personal resources or students willing to incur large amounts of educational debt can hope to attend medical school.