Here’s a new idea – tuition-free med school …. According to the Wall Street Journal, a newly minted doctors owe nearly $140,000 on average in student loans.
So, to help alleviate some of the financial burden that doctors feel out of med school, the Cleveland Clinic Lerner College of Medicine of Case Western University will announce today that beginning in July, all incoming students will be awarded full scholarships to cover their estimated $43,500 tuition.
Other schools are allegedly following suit including the University of Florida and Yale University and some others are boosting financial aid.
All user-generated information on this site is the opinion of its author only and is not a substitute for medical advice or treatment for any medical conditions. Members and guests are responsible for their own posts and the potential consequences of those posts detailed in our Terms of Service.
Add a Comment5 Comments
This has been great information; I do think it is a great idea for the students who are going into medicine, and will inevitably be the lower-wage earners (as compared to practicing medical doctor or surgeon, for example), to be provided with more incentives, including free tuition.
I graduated with a Master's degree, and although it was not in one of the "professional schools" (business, medicine or law), it would have been a great opportunity for myself and classmates to have the option of working in an under-served population, with the "reward" of being debt-free after a predetermined amount of time. Like Susan, my school loans are large and in charge! (and, will be sticking with me for quite a while....)
I believe all professions could offer something to work environments that are not the typical "sought after" locations, and most likely the people who would benefit most would be the young, new graduates!
May 18, 2008 - 5:50amThis Comment
The Med school and free tuition is just for academic medicine students. The WSJ article talks about how academic graduates do not make comparible wages to practicing doctors even in the medical field which is why the Cleveland Clinic Lerner College of Medicine has started the free tuition progra.
I blogged about it here: http://www.pepandprep.com/medical-school-tuition-debt-and-a-med-school-t...
May 16, 2008 - 12:08amThis Comment
While in university umpteen years ago, I knew a number of students who were on scholarship with the understanding that they would serve their countries in various capacities from military to medical. My own scholarships and grants all through Grad School carried a requirement to study certain subjects while overseas and interview with the funding engineering firm upon graduation; and a few of my colleagues went to work for them (which was fine, since they were male and returning to the Middle East). Some of the students I knew were to serve at least 2 years in the military as "pay back."
Who pays the bill is the benefactor hoping for a return on their investment. My university had some of the most illustrious persons in domestic and global affairs as guest professors, paid for by private industry and foundations. There are billions of dollars available to students willing and able to search out the possibilities, and, as a former investment banker, I used to invest some of those billions for foundations and universities. "Free tuition" is not a new concept; it's a matter of better money management and attracting more qualified students into high cost programs they would otherwise not be able to afford. It's not just professor's pay to be concerned about, or the cost of books - how about the mega-million-dollar medical facilities and equipment, research laboratories, etc.
Tuition won't be free for all, I'm sure the awarded students will have fulfilled some requirements and standards, maybe even equal opportunity requirements (the Univ. of TX is well-versed in that controversial student admissions program). If a promising and qualified student can enter med school on such a ticket, why not! I'd rather be treated by a doctor who actually had a commitment to that degree than someone who was going into medicine simply for the money (there are plenty of those).
Finally, when there are strings attached, the tuition really isn't so "free." Better to have the commitment to pay back and produce a better doctor, in my humble opinion.
May 15, 2008 - 5:31pmThis Comment
The idea seems a bit idealistic and if it worked out for all parties involved I would be all for it but... I have to agree with Alison B. Who is going to foot the bill? The concept that Alison is talking about isn’t something new. The Public Service Academy Modeled on the military service academies, the (PSA) will provide a rigorous undergraduate education followed by five years of civilian service to the country. It will develop young leaders with the character, intellect, and experience necessary to meet the challenges of the twenty-first century. A student would have to be nominated to enroll. Tuition is free. If chosen it would be a fantastic opportunity.
Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind.
~ Theodor Geisel aka Dr. Seuss
May 15, 2008 - 4:52pmThis Comment
It seems extreme to me for a school to award ALL incoming students with free tuition. As great as that sounds, tuition pays for professor salaries, school libraries and other much-needed resources. Who pays the bill?
I think an even better idea is to encourage newly-graduated medical and law (and other professional school) students to work in under-served, under-privileged locations, and after a predetermined amount of time working in these areas (granted, for a substantially lower salary than the "high powered" jobs)...the remainder of their school loan debt is forgiven!
This seems like the best of both worlds to me: encouraging new graduates to work in less-desirable environments that they would not have ordinarily volunteered for. These students can gain valuable work and life experience, give back to their community, earn a salary, practice their new profession, and be rewarded with no school debt (we're talkin' hundreds of thousands of dollars forgiven!!)
May 15, 2008 - 1:29pmThis Comment