How much does medical school cost? Many aspiring physicians interested in getting into a medical school want to know the actual cost of medical school. From primary application to secondary application, tuition fees and textbooks cost, estimating how much to pay to become a doctor will make it easier to pursue a medical profession. You need to do your research early to know about how much medical school costs and the amount you need to pay for medical school education.
Knowing all the associated costs of medical school will help future medical students create a better financial plan and fulfill their goal of pursuing a medical profession. Tuition fee may vary from institution to institution, exploring every school’s website will help you estimate the total medical school cost.
If you want to know how much does medical school cost and how to pay for medical school, this blog will help you calculate the average cost of medical school.
Factors that Affect the Cost of Medical School
Calculating the cost of medical school education is challenging. There are multiple factors that depend on the total cost. Let’s dive deeper into each factor to create a successful budget for medical school education.
Application Fees
Whether you are applying to Canadian, American, or Caribbean medical schools, you have to pay application fees. Each medical school follows a standard application process and fee structure. It is advised to check the website of each school you are planning to apply to. The majority of Caribbean medical schools require primary and secondary application fees and the cost varies from school to school. The cost of applying to medical school includes the primary application cost and secondary application cost. The cost of applying to medical school ranges from $70-$800, depending on the number of schools you apply to.
MCAT Fee
MCAT is one of the most important admission requirements for many medical schools. You need to fulfill this requirement by taking the MCAT and get the desired score. Since the test is tricky, many students are unable to get a good MCAT score and attempt the test multiple times. However, a good MCAT preparation strategy can help you score good marks. The average MCAT cost is $320. The test is offered throughout the year, canceling, or rescheduling the test will cost you additional fee.
Medical School Interviews
If you fulfill all the admission requirements and get an interview call, you are lucky enough. The cost of an interview is another cost you have to keep in mind when estimating the total cost of medical school education. If you get invited to an interview from an instate school, the travel expenses will be little less, compared to attending an interview in an outstate school, which means extra expenses. Flight, hotel stay, local transportation may cost between $500 – $1000 per interview, depending on location. It is advised to prepare for a medical school interview to increase your chances of success.
The Cost of Tuition Fee
You have to spend four years in medical school to pursue an MD degree. So, get financially ready to pay medical school tuition fees. Usually, the tuition fee includes the basic cost of learning resources, health insurance, student government fee, administrative cost and NBME exam fee. Here is the tuition fee structure of Windsor University School of Medicine.
Basic Sciences Program Fees – Per Semester
| Tuition Fee
MD 1- 4 MD 5 |
$ 4,990.00
$ 6,490.00 |
| Administrative Fee | $ 100.00 |
| Student Government Fee | $ 50.00 |
| Health Insurance Fee | $ 150.00 |
| Exam Fee MD 1 – 4
MD 5 (NBME + OSCE) |
$ 200.00
$ 350.00 |
| Lab Fees | $ 250.00 |
| Total MD 1-4 | $ 5740.00 |
| Total MD 5 | $ 7390.00 |
| Transportation Fee | $ 150.00 |
Clinical Sciences Program Fees (MD 6-10) – Per Semester
| Tuition Fee | $ 6,490.00 |
| Administrative Fee | $ 100.00 |
| Health Insurance Fee | $ 150.00 |
| Clinical Core Exam Fees | $ 300.00 |
| Clinical Core Exam Fees | $ 900.00 |
| Exit Exam Fee | $ 400.00 |
| Graduation Fee | $ 750.00 |
| Malpractice Clinical Insurance Fees | $ 900.00 |
| Clinical Surcharge (in US/Canada) | $1,500.00 |
Living Expenses
The cost of living is impossible to calculate, as it varies from student to student, school to school and your lifestyle. In addition, the cost of living depends on the location of your medical school. If you are an international student, the cost of living will be higher compared to instate students. Renting a room, food, local commute, study materials, and other expenses will affect your overall medical school cost. The average cost you will spend on living, travel and other expenses will range between $1400- $2000.
Clinical Rotations Cost
During clinical years, students are allowed to choose elective clerkships, however, selective clinical clerkships are mandatory to complete. Students are sent to rural and remote areas for clinical training. For core rotations, the medical school bears the expenses of living and local transportation. However, for elective clinical clerkships, you will have to pay for all the expenses, including travel, living and associated expenses. Keep in mind that students need to complete 12 weeks of elective rotations and each elective lasts for 3 weeks. The average cost of completing clinical clerkships ranges between $1200-$3600.
Medical School Exam Cost
Every medical student has to attempt all three steps of the USMLE.
- USMLE Step 1 for basic medical knowledge
- USMLE Step 2 for clinical knowledge and skills
- USMLE Step 3 for patient assessment and management skills
USMLE step 1 and 2 are taken during the second and fourth year of medical school. However, students take the USMLE step 3 only when you have successfully passed step 1 and 2 and completed your residency training program.
| Exam | Cost (2022-2023) |
| USMLE Step 1 | $645 – $660 |
| USMLE Step 2 CK | $645 – $660 |
| USMLE Step 3 | $895 – $915 |
Estimating the Total Cost of Medical School
Obtaining an MD degree takes four years, you need to know how much you will need to spend during the four years of schooling. Calculating the actual cost of medical school is challenging. The annual cost of attending medical school varies on a number of factors such as campus location, housing and means of transportation, elective clinical rotations, and other living expenses. Hopefully, the above-mentioned factors will help you create a better financial plan for your medical school education.
