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.
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Calculating the True Cost of Medical School
The average cost of attendance for the class of 2025 at in-state public medical schools is $286,454 for four years, while the average cost at private medical schools is $390,848, 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
- Tuition
- Housing
- Food/meal plan
- Books, course materials, and equipment
- Travel expenses
- Personal expenses
- Health insurance
- Exam fees (MCAT & USMLE)
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 M.D. degrees and another 42 accredited osteopathic medical schools that award D.O. 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.
Most Affordable Medical Schools in the U.S.
According to U.S. News & World Report, ten public medical schools charged out-of-state students less than $49,000 in tuition and fees for the 2023-2024 academic year. Most of these schools were located in Texas, but there were also a few in Missouri, South Carolina, and New Mexico. Below, we’ve listed the out-of-state tuition and fees for some of these more affordable medical schools to give you a sense of the price range.
| Medical School | 2023-2024 Tuition & Fees |
| Texas A&M University | $34,860 |
| University of Texas Health Science Center, San Antonio | $41,447 |
| University of Missouri | $46,126 |
| Medical University of South Carolina | $47,117 |
| University of New Mexico | $48,271 |
Remember, this includes just the tuition and fees for these schools. Be sure to research and consider other expenses, such as the cost of living and housing, when calculating total medical school costs.
Most Expensive Medical Schools in the U.S.
To highlight the extreme differences in medical school tuition costs, here’s a sample of some of the most expensive programs across the country, according to 2022-2023 academic year data from U.S. News & World Report. The reputations of these schools may be worth the premium, but only if it would be reasonable for you to make such a financial investment in your situation. All the schools on the list below are private medical schools in the U.S.
| Medical School | 2022-2023 Tuition & Fees |
| Case Western Reserve University (OH) | $73,380 |
| Brown University (Alpert) (RI) | $73,149 |
| Northwestern University (Feinberg) (IL) | $70,038 |
| Yale University (CT) | $68,697 |
| Harvard Medical School (MA) | $68,123 (data from 2022) |
An important consideration when choosing a medical school is the cost of living. The cost of living can vary greatly depending on your medical school’s location. When considering 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, 71% of the graduating medical school class of 2024 had an average educational debt of $205,000.
The financial aid application process for medical school is similar to the one for college—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 2025-2026 year, PSEP will award $37,250 per student for allopathic medicine (M.D.) and $26,725 for osteopathic medicine (D.O.). 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.
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.
Written by Kaplan experts, reviewed by Maria Lofftus, JD and Claudia Mikail, MD, MPH. Maria has extensive experience in graduate admissions and was part of the AAMC’s National Committee on Diversity. Dr. Mikhail is a practicing physician, professor, author, diplomate of the American Board of Preventive Medicine, and a member of the American College of Medical Genetics.
*When combined with the AAMC Fee Assistance Program.
