Why Medical School is Becoming More Expensive | The Hidden Costs
Ask any premed who has considered becoming a doctor and they’ll all agree on one thing: medical school is expensive. But where does all of that tuition money go? Does it actually go towards your medical education? Or is it just financing the dean’s second Lamborghini? Let’s find out.
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TIME STAMPS:
00:00 Introduction
00:30 How Much Does It Cost?
01:28 What’s The Cost of Running a Medical School?
02:52 Where Do Medical Schools Get All of Their Money?
04:55 Supply & Demand
LINKS FROM VIDEO:
The Changing Cost of Medical School: https://youtu.be/vH3EGJn1gWQ
How To Afford Medical School: https://youtu.be/aX3mzg1Gkhk
Student Loans 101 | College & Medical School: https://youtu.be/Iat9AuCl_nU
#medicalschool #premed #studentloans
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Disclaimer: Content of this video is my opinion and does not constitute medical advice. The content and associated links provide general information for general educational purposes only. Use of this information is strictly at your own risk. Kevin Jubbal, M.D. and Med School Insiders LLC will not assume any liability for direct or indirect losses or damages that may result from the use of information contained in this video including but not limited to economic loss, injury, illness or death. May include affiliate links to Amazon. As an Amazon Associate, I may earn a commission on qualifying purchases made through them (at no extra cost to you).
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Disclaimer: This content including advice provides generic information only. It is in no way a substitute for a qualified medical opinion. Always consult a specialist or your own doctor for more information.
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Here in New Zealand, if your a domestic student it’s around $7000-17000 for one year (I’m pretty sure it’s per year.) and $80000 for international students. Why is there such a big difference in fees? If a student wants to pursue medicine here in NZ and they make their own way here, why do they have to pay so much more?
if my med school dean doesnt have at least 3 lamborghinis, I would drop out.
It's because we live in a Capitalist system that extracts wealth from the working class and funnels it upwards to the capitalist class. Donations are often tax deductible, so rich people donate to avoid paying taxes. Also if the US government stopped spending $800 billion per year on wars (Aka US imperialism), bailing out corporations during every recession, and providing giant subsidies to corporations, among other nefarious things the government does, they could pay for everyone's education, healthcare, and housing. This is very obvious if you look at it from a Marxist perpective. There is no justification for making medical students, who want to help the public by become doctors, drown in student loan debt (which by the way is the only type of debt that can't be canceled by declaring bankruptcy)
Plz tell me in indian rupees
Is it possible for international students to get a government loan?
Can you do (so you want to be a hematologist) pls
Can you talk about sterile processing technician next?
Most people can’t even afford to apply to med school. It’s rigged against the poor.
Hello I’m new to your channel can you do a video of radiologist technician please thank you
I'm in AIIMS ( All Indian institute of medical sciences) , India …
India's top most medical college .
The fee per year is around 6 USD ( yes ,you heard it right , only 6 dollar ) including tution fees , hostel facilities , electricity
Govt of India spends 250k USD on every AIIMS students
NYU charges $0 for medical school.
You forgot how the AMA restrictions to the supply side of medical school
True .
Later, these expenses has to be paid by patients they treat. Vicious cycle of inflation.
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Bro just say it’s because they want to keep poor people out
"There are two types of people who will tell you that you cannot make a difference in this world: those who are afraid to try and those who are afraid you will succeed." —Ray Goforth
An important point not discussed is that very high tuition costs drive people away from primary care into lucrative specialties. Like the military, the government expand tuition relief or tuition forgiveness in exchange for a binding commitment to work in primary care
Regardless of the reasons, everybody knows medical school tuition in the U.S.A. is absurd. It's not surprising though, because healthcare costs in the U.S.A. are absurd too; the high tuition fees are merely reflective of a broken healthcare system where costs and prices have been allowed to spiral out of control.
I'm a medical doctor from a third world country and I spent essentially nothing on tuition. State-run medical schools don't charge tuition fees while the most expensive private medical school charges the equivalent of 6k USD per year.
I don't understand why they make it so unappealing to become a doctor when they are needed more than ever. The debt is higher, pay is lowers, they're overworked and undervalued. Why I opted out of being an MD
Money making schools destroying health care. Less doctors, more mid-level health care professionals like physician assistants and nurse practicioners decrease level of care. Poor patients.
it’s 1000 $ per year in Spain
We really do have a serious problem here in the states with medical school. Not only the costs but the lack of expansion in medical schools. Expansion doesn’t mean lowering in quality either. Based on the video, even though 18% more people applied, the same amount got in due to lack of space. The overall system needs to grow with the same attention to education and training it currently has. Even as an Army Veteran who can attend Medical School for free, I won’t apply because of the “competitive” nature of the entire process. It’s simply not worth it anymore, in my opinion. It also shouldn’t scare someone to want to attend medical school because of debt. No one should have to take out that much in loans to pay for school of any kind. Sure, full ride scholarships exist but are extremely rare among medical students.
decent video however it omitted the biggest reason, because they can! it was mentioned but glossed over. another is high salaries for administrative costs namely ceo and other people in high positions. the supply and demand is sort of BS as there's always been more looking to get in. one reason why more applications are being submitted is because there's more people who think they can get in but can't either due to not having good enough grades, or not having the right classes. the application and fees are insane yet not surprisingly there is no check to help students out before they pay all kinds of fees including high application costs for each school and all the other nonsense.
I still don’t understand why medical schools would need to pay hospitals to have students work there. From my rotations, it isn’t like they add extra staff or pay residents/attendings that are teaching more. Like yes, med students may decrease the productivity of the team, but the team is still expected to get everything done without any additional help or payment.
Seriously… I’m tired of all these videos. Yes, they charge us a lot. Yes, it costs a lot. But doesn’t everything cost a lot in life nowadays?
I wish I could become a doctor rip
Great of you to wrap this up with scholarships. After watching most of this video it's apparent how valuable they are to students. I've got two scholarships carrying most (not all) of my cost of attendance. The rest is loans. Knowing that I won't be graduating with a mountain of debt (just a large pile of debt) does provide some relief and is one less thing that soaks up my precious mental bandwidth. Idk if it's true, but I heard that my school had leftover scholarships because not enough people, who were otherwise qualified, applied for them or responded to solicitations from the Dean's office, which is how I got mine. I wonder if that is often the case.
Incoming comments from Europeans that no one asked for
*med students in the US
In Switzerland tuition fees are like 1k per semester (less actually)
And all are connected to an university hospital.
Most of the money comes via taxes (500k per student for all 6 years….. so… a lot), its just that we as individuals dont have to pay that