• Managing Medical School Debt


    Attending medical school is a serious financial investment. It’s a decision many students make because they have a personal calling to become a physician. With a little studying and planning, you can limit the educational costs and minimize your debt.

    The amount of information about debt management and personal finance can feel overwhelming to learn and apply. While the cost of medical school continues to rise, increasing the average amount of loans for medical school, it is no surprise that debt is a common source of stress among medical students, residents, and new physicians. As you research, remember there are many reasons to be confident about your future. You can afford to pay for medical school and pursue the specialty of your choice. It is extremely rare that a physician defaults on his or her educational loans, despite many carrying six-figure debt. Physician salaries in every specialty are among the highest in the world.

    Some key goals for debt management include learning the basics of financedeveloping a plan to pay for medical school and living expenses, learning to budget and manage your money, and learning about financing and repayment options. The sooner you get organized and savvy about your finances, the greater impact you will have managing debt. Decisions that save you a few hundred dollars now can potentially be worth thousands of dollars over time. Feeling confident about money and debt management can also foster a stronger sense of your future and improve your confidence and well-being.

    The American Academy of Family Physicians (AAFP) is committed to providing useful information and resources on debt management and has policy aimed at combating rising medical student debt.

    Income and Career

    Physician Income and Career

    Learn the facts as you plan your financial future as a doctor. Understand how costs of training line up with the career and salary of a physician. Read more.

    Personal Finances

    Personal Finance Basics in Medicine

    Medical school is an investment in your future. You need to know basic finance principles to make the most of your money during training. Read more.

    Funding Medical School

    How to Fund Medical School

    Learn the real costs of attending medical school and get information on loans, scholarships, and matching for a residency program. Read more.

    Finances for Graduating Medical Students

    Start your career as a resident with a plan for your loans and finances. Read more.