July 31, 2011
HIGHER EDUCATION BUBBLE UPDATE: The Hidden Costs Of Medical Student Debt.
The acceptance of student indebtedness as the “norm” of medical school has provided a kind of carte blanche for robust tuition increases. Median yearly tuition at public medical schools is $29,000, and at private institutions it is $47,000 — increases from two decades earlier of over 312 percent and 165 percent, respectively. While some may counter that future doctors can well afford such increases and loans, the rising debt load has had and will have repercussions on patients, particularly those in greatest need.
Paying so much up front has transformed an education that was once a path to public service into a significant financial investment that needs to yield returns.
UPDATE: Link was bad before. Fixed now. Sorry!