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Medical Student Scholarships, Tuition, and Indebtedness Samuel Matheny M.Ed., MA (financial economics) Director, Student Financial Services.

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Presentation on theme: "Medical Student Scholarships, Tuition, and Indebtedness Samuel Matheny M.Ed., MA (financial economics) Director, Student Financial Services."— Presentation transcript:

1 Medical Student Scholarships, Tuition, and Indebtedness Samuel Matheny M.Ed., MA (financial economics) Director, Student Financial Services

2 RankAMCRankAMC 1Johns Hopkins University11Yale University 2 UC - San Francisco 12 University of Michigan 3Washington University - St. Louis13 University of Pittsburgh 4University of Pennsylvania14Baylor College of Medicine 5UCLA15 Cornell University 6Duke University16 University of Chicago 7University of Washington17 Vanderbilt University 8Harvard University18 UC - San Diego 9 Columbia University 19 Emory University 10Stanford University20 Northwestern University Top 20 Academic Medical Centers

3 Ohio State v.s. Top 20 Academic Medical Centers Scholarships

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6 Ohio State v.s. Top 20 Academic Medical Centers Tuition and Fees

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9 Ohio State v.s. Top 20 Academic Medical Centers Loan Indebtedness

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13 Reasons for Medical Student Scholarships Become a top 20 Academic Medical Center Become a top 20 Academic Medical Center Attract the best students Attract the best students To encourage or assist: To encourage or assist: Financial Need Financial Need Leadership Leadership Professionalism Professionalism Academic Merit Academic Merit Research Research Medical Students have high interest debt Medical Students have high interest debt 6.8% Federal Stafford loans 6.8% Federal Stafford loans 7.9% Federal Grad PLUS loans 7.9% Federal Grad PLUS loans

14 Medical Students have high interest debt Mr. Average Student borrows $140,000: Mr. Average Student borrows $140,000: Med 1- 35,000 Med 1- 35,000 Interest for 4 years= $8500 Interest for 4 years= $8500 Med 2- 35,000 Med 2- 35,000 Interest for 3 years= $6000 Interest for 3 years= $6000 Med 3- 35,000 Med 3- 35,000 Interest for 2 years= $3500 Interest for 2 years= $3500 Med 4- 35,000 Med 4- 35,000 Interest for 1 year= $1500 Interest for 1 year= $1500 Residency Residency Interest for 3 years= $30,500 Interest for 3 years= $30,500 Total interest accrued= $50,000 Total interest accrued= $50,000 Mr. Average Student owes $190,000 as a physician Mr. Average Student owes $190,000 as a physician


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