There’s no denying that medical education across the world is getting expensive every year. In fact, medicine is one of the costliest higher education degrees worldwide. The emergence of private medical schools, a smaller number of public medical universities. And the steep rise in the number of prospective doctors is the reason behind the surging medical education cost. According to the Association of American Medical Colleges (AAMC) newly published report, 73 percent of medical students graduate with debt. Therefore, it’s crucial to weigh medical schools’ costs in different countries before enrolling in a program to restrain oneself from facing big loans.
Interestingly, the average cost for attending a public U.S. medical school is USD 250,222. While a student spends approximately USD 330,180 to attend a private medical school in the U.S. On the other hand, Caribbean medical school cost is a relief for aspiring doctors willing to practice medicine in the United States. Suppose you are interested in pursuing an M.D. program in Basic Science in a top-tier medical school in the Caribbean. You will have to pay around USD 17,800 tuition per semester for the May 2021 Semester. And USD 19,950 tuition per semester for the September 2021 Semester for up to five semesters. It depends on the academic session.
At the same time, a Caribbean medical student pursuing the M.D. program Clinical Medicine has to spend USD 22,850 tuition per semester for the May 2021 Semester. And USD 24,350 tuition per semester for the September 2021 Semester from six semesters to ten semesters. Besides tuition, students also need to pay Gateway Medical Program tuition. And Part-Time Tuition Credit Hour of USD 8,750 and USD 690, respectively.
Some Miscellaneous Fees:
Apart from this, matriculants are also required to spend on some miscellaneous fees or charges, such as application fee, Bachelor of Science Application fee, malpractice insurance, clinical liability insurance, health insurance, national board fee, review fee, returned check fee, graduation fee, information technology fee, shelf exam fee, and administration fee. Notably, tuition and additional costs are subject to change, and the university’s board of trustees reserves the right to change tuition and fees whenever such action is deemed necessary.
Financial aid and scholarships for attending Caribbean medical schools
Top-tier Caribbean medical schools have begun to offer full-tuition scholarships for current and future medical aspirants. Federal student loans are the most convenient way to finance their medical studies for prospective doctors with good MCAT scores and GPAs. Matriculants can also apply for various public and private options to finance their medical education. Notably, there are some loan repayment and forgiveness programs to reduce the debt burden on students.
Furthermore, Caribbean medical schools also provide scholarship facilities to deserving students. Eligible students can apply for scholarships, including the Canadian Loyalty Scholarship, Canadian Merit Scholarship, and U.S. Academic Scholarship, to fund their medical education. In a nutshell, Caribbean medical schools are good in terms of cost. So, sign up for the program right away!