What’s the Real Cost of Medical School?

You’ll invest a lot of money attending medical school for four years, from tuition and fees to textbooks and housing. The real cost of medical school adds up quickly. So, just how much does medical school cost? We’ll explain what you need to know about paying for medical school and show you ways to save money, including some popular medical school scholarships and student loans you might qualify for. Learn how much a U.S. medical degree costs so that you can set expectations and budget effectively.

[ READ NEXT: The Prerequisites for Medical School ]

Calculating the True Cost of Medical School

The average cost of attendance for the class of 2026 at public medical schools is $297,745 for four years, while the average cost at private medical schools is $408,150, according to data from the AAMC. The total amount you’ll pay for medical school will vary depending on which school you go to and where it is located. Even a thrifty student who cuts costs will incur certain necessary expenses outside of what they’ll pay to attend. This is why it’s so important to set a budget and plan accordingly.

Here are some key factors to consider when calculating the cost of medical school:

• Application fees for medical school as well as residency programs
• Tuition
• Housing
• Food/meal plan
• Books, course materials, and equipment
• Travel expenses
• Personal expenses
• Health insurance
• Exam prep courses
• Exam fees (MCAT & USMLE/COMLEX)

Finding More Affordable Tuition and Fees

Not all medical schools are that expensive, however. There are approximately 160 accredited allopathic medical schools in the United States that award MD degrees, and another 46 accredited osteopathic medical schools, that award DO degrees, and their tuition prices vary greatly. On average, public schools are more affordable than their private counterparts. In-state students receive discounted tuition at public state schools compared to out-of-state students. These are all important factors to consider when choosing a medical school.

In 2026, determining the true affordability of medical education goes beyond the sticker price of tuition. The most cost-effective choices are diverse, ranging from entirely tuition-free private schools, such as NYU Grossman, Albert Einstein College of Medicine, and the Cleveland Clinic Lerner College of Medicine, to public state schools. Notably, public medical schools in Texas offer some of the lowest in-state and out-of-state rates nationally. For those considering Doctor of Osteopathic Medicine (DO) programs, institutions recognized for lower tuition include the Texas College of Osteopathic Medicine and Lake Erie College of Osteopathic Medicine.

Type of Med School	Med School Examples	Why It’s More Affordable
Tuition free medical schools	NYU Grossman, Albert Einstein, Kaiser Tyson	Zero tuition costs; you only pay for living expenses.
Texas medical schools	UT Southwestern, UTRGV, Dell Medical	State law caps tuition.
Osteopathic medical schools	TCOM, LECOM	Tuition is generally lower than allopathic medical schools.

Please note that calculating genuine medical school affordability requires looking at the total cost of attendance, which accounts for potentially high living expenses, especially in urban areas like Manhattan or Boston.

On the opposite end of the spectrum, the most expensive medical schools can reach a total cost of attendance exceeding $100,000 per year. In 2026, the most expensive medical schools generally fall into two categories: elite private institutions in expensive cities and public schools charging massive out-of-state premiums.

Several factors can drive up the cost of medical school:

• Urban Cost of Living: The cost of living varies dramatically between medical schools located in large, expensive cities, like NYC or Boston, compared to those in more affordable areas.
• Private vs. Public Funding: Private schools rely heavily on tuition and donor endowments rather than state tax subsidies.
• Advanced Facilities: High-cost medical schools often provide access to cutting-edge simulation centers, robotic surgery labs, and massive hospital networks.

One of the most important considerations when choosing a medical school within your budget is the cost of living. The cost of living can vary greatly depending on your medical school’s location. When calculating the total cost of attendance, you should factor in things like rent, food, supplies, whether you’ll need a car, and the cost of traveling home if you’re attending a medical school out of your area. These additional factors can tip the scale regarding a school’s affordability. This is also one of the most individual components of the medical school application and will require some research. The good news is that a variety of grants, scholarships, and loans are available for incoming medical students.

How to Pay for Medical School: Loans & Scholarships

Institutional grants tend to be rare, and there are far fewer medical school scholarships to cover tuition and fees than are available at the undergraduate level. Not to fear—we have some tips for funding your path to a career in medicine. Read on for an overview of the resources available to you when considering how to pay for medical school.

Medical School Loans

Given the cost of medical school attendance and the difficulty of juggling your education with a part-time job to pay for it, student loans have become the norm. According to the AAMC, 70% of the graduating medical school class of 2025 had an average educational debt of $223,130, which is up 5% from the previous year. 

The financial aid application process for medical school is similar to the one for colleges—the school’s financial aid office will follow a protocol, which includes filling out the Free Application for Federal Student Aid (FAFSA) form. After your application has been processed, you will likely qualify for two federal loans, the Direct Unsubsidized Loan and the Direct PLUS Loan. The interest accumulated while you are in school will be added to the overall loan balance when you graduate. It’s important to monitor your student loans for any changes. Talk to your financial aid office to see if they recommend any tools to help you better manage your debt.

HPSP and Military Scholarships for Medical School

A significant number of students each year apply for and accept the Health Professions Scholarship Program (HPSP) sponsored by the U.S. Army, Navy, and Air Force. The scholarship covers 100% of tuition and supplies, in addition to providing a monthly stipend for living expenses. Recipients of the HPSP scholarship are expected to serve on the Army Medical team, typically one year on active duty for every year of the scholarship received (“1-for-1”). This does not include residency training, whether done in a civilian or military residency.

Application for the HPSP is completed via a recruiter, for whom the financial aid office or medical school administration will have contact information. The application process can take a while, especially if any issues or roadblocks arise, so it is best to apply early. The National Guard offers its own Medical and Dental Student Stipend Program (MDSSP), which provides monthly remuneration for part-time service. This might work better for those who prefer a less stringent time commitment and the ability to maintain a civilian career. 

The NHSC Scholarship

The National Health Service Corps (NHSC) Scholarship is run by the U.S. Department of Health and Human Services and provides yet another good option for financing medical school. Much like the HPSP scholarship, the NHSC scholarship includes tuition, fees, educational costs, and a monthly living stipend in return for providing primary care health services in Health Professional Shortage Areas (HPSAs). 

To be eligible for this scholarship, medical students must also pursue residency training in an NHSC-approved specialty: family medicine, internal medicine, pediatrics, geriatrics, OB/GYN, psychiatry, or a combination of the above. If you plan to go into one of these medical fields and would like to give back to an underserved community, the NHSC is a great way to alleviate the cost of medical school while also helping those in need.

The Professional Student Exchange Program

The Professional Student Exchange Program (PSEP) allows students in 12 western states and Pacific Island jurisdictions to receive financial support when attending selected professional programs unavailable at public institutions in their home state.  

For the 2026-2027 year, PSEP will award $38,875 per student for allopathic medicine (MD) and $27,875 for osteopathic medicine (DO). Many states have a contractual “service payback” obligation in which you must return to your home state after graduation to practice for a certain number of years. You should apply early in the year prior to attending medical school, as the standard deadline is October 15th, and only applicants who are processed before that date have a realistic chance of receiving this competitive scholarship.

Medical School Specific Teaching Roles

Some medical schools offer teaching roles where you are compensated, given tuition support, or provided other incentives. Examples include being an Anatomy fellow, an undergraduate or graduate tutor, a teaching assistant, or orientation leader for incoming medical students. DO schools offer Osteopathic Medical Technique teaching and fellow roles as well. These positions can vary in how they are set up. Some positions involve spending an extra year teaching medical students, in which case you receive a stipend and/or a year of free tuition. Others allow you to teach while completing your regular medical school training. It is important to research what the medical schools you are applying to offer when it comes to additional tuition support.

How to Prepare for Medical School on a Budget

Preparing for medical school can also be expensive, but Kaplan is here to help with discounts on MCAT prep for eligible students. Kaplan’s Fee Assistance Program is available for students who have already been approved for AAMC’s Fee Assistance Program, or have an expected family contribution of $4,000 or less on their FAFSA, and are seeking enrollment in an On Demand, Live Online, or In Person MCAT course. Learn more about Kaplan’s Fee Assistance Program and how you can earn up to 60% off* your Kaplan MCAT course.

If you’re looking for additional support on your medical school journey, including help with strategic school selection, Kaplan’s admissions experts are here to support you! Learn more about our medical school admissions consulting packages.

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Written by Kaplan experts, reviewed by Dr. Alyssa Cole Mixon. Alyssa is a Physical Medicine and Rehabilitation doctor sub-specialized in Cancer Rehabilitation as well as a Kaplan Medical School Admissions consultant. In addition to being a doctor, she is also a content creator (@doctor.cole) and blogger (dailydoseofvita.blogspot.com), where she shares what life is like both in and outside of medicine while educating her audience on accurate health information.

*When combined with the AAMC Fee Assistance Program.