Healthcare Career Blog, Physician Blogs

Free from Medical School Debt?

Author Healthcare Career Blogger | 08.11.2009

CNN’s recent article “Free Medical School for 40 Lucky Students” must have had premedical students salivating. The article celebrates the University of Central Florida Medical School, which opened its doors at the beginning of August, for offering free tuition to all 40 members of its inaugural class. Whether this will become the status quo at UCF or whether it is just a one-time deal to entice students to take a risk on a new medical school, is anyone’s guess, but the fact remains that this is “the first time that an entire class will go through medical school completely debt free.”

Dr. Deborah German, dean of the new medical school, says, “We’re giving our students the opportunity to come get a medical education free from debt so that they can pursue their passion.” German here is referring to two passions: 1) the students’ passion for medicine, in general, and 2) their passion for particular fields and specialties.

The astronomical cost of a medical education has two unintended consequences. First, it hinders qualified and passionate students of modest financial backgrounds from pursuing careers in medicine. Over 60% of medical students come from families in the top 20% of the annual income bracket, and a recent survey conducted by the AAMC cites cost of medical school attendance as the number one reason qualified minority students choose not pursue a medical career. Secondly, it deters students from going into less lucrative specialties, like internal and family medicine, and from working in under-served areas where they may not be paid as much. It is easy to accuse a physician of greed when he or she chooses a specialty based primarily on financial gain, but it’s not quite that simple. When a young physician is looking at $200,000 of debt, how can he or she afford not to consider salary a primary factor when making career choices? If students could come out of medical school debt-free, they could, in turn, have the freedom to practice whatever type of medicine they choose without the burden of loan payments hanging on their shoulders.

So, what does UCF’s decision mean for the rest of us? If this was simply a one-year lucky break for these 40 students, it could mean very little to the rest of the county. But, if UCF can set a precedent for medical schools and for the government to offer greater financial incentives for medical students, it could be the beginning of a new model of medical education.