AAMC Financial Aid and Medical Education Costs

Question 1

What is the average annual cost of attendance at a US private medical school?

Accepted Answer

$60,000–$80,000

Answer

According to AAMC data, the average annual cost of attendance at private US medical schools is approximately $60,000–$80,000 including tuition and living expenses.

Question 2

What federal loan program do most US medical students rely on for financing?

Accepted Answer

Federal Direct Unsubsidized Loans and Grad PLUS Loans

Answer

Medical students primarily use Federal Direct Unsubsidized Loans and Grad PLUS Loans, as subsidized loans are not available for graduate students.

Question 3

What is the AAMC's FIRST (Financial Information, Resources, Services, and Tools) program?

Accepted Answer

A comprehensive financial literacy and advising resource for medical students

Answer

FIRST is AAMC's financial literacy program that provides resources, counseling, and tools to help medical students and residents manage education debt.

Question 4

What is the average medical school debt for graduating US MD students?

Accepted Answer

Around $200,000

Answer

According to AAMC, the average medical school debt for graduating US MD students who borrowed is approximately $200,000.

Question 5

Which loan repayment program can help physicians in underserved areas repay medical school debt?

Accepted Answer

National Health Service Corps (NHSC) Loan Repayment Program

Answer

The National Health Service Corps (NHSC) Loan Repayment Program provides loan repayment assistance to physicians who practice in Health Professional Shortage Areas.

AAMC - Association of American Medical Colleges Practice Test

AAMC - Association of American Medical Colleges Practice Test

AAMC Financial Aid and Medical Education Costs