Getting a medical degree isn’t cheap, to say the least.  But there are simple ways that you can lower the cost of obtaining such a degree.  There may be terms and conditions surrounding each one of the 5 ways that follow but if you are determined to get a medical degree then these methods might be able to make the cost of that degree a little bit easier to manage.

National Health Service Corps

If you want to lower the cost of your medical degree then consider turning to the National Health Service Corps.  This organization has a loan repayment program that pays healthcare providers who work in areas federally recognized for being underserved.  You will have to work in this area for a predetermined amount of time to receive this benefit but it can be substantial.

While you will have to handle your tuition initially, this program can repay you up to the amount of $50,000.  You will have to be selected and there are conditions but working in an underserved area for two years or so could drastically lower the cost of your medical degree.

The Armed Forces

You could also join the United States military.  Of course, you will have to be willing to put in some time in uniform after your education but the scholarships and funding that you can receive through this type of arrangement can be worth it.  If you are selected you could receive as much as four years of full tuition paid for you as well as additional stipends.  You will have to put in your military service time but this can help you handle the cost of a medical degree.

Scholarships

There are scholarships out there for everyone… if you take the time to look for them.  You can get them based on academic merit or based on any other aspect of your background.  Many groups award scholarships based on criteria ranging from ethnic background to being a member of certain social clubs.  They come directly from medical schools and from various other organizations.  There may be fierce competition for many of these scholarships but they can help to lower the cost of your education.

MD/PhD Programs

These programs allow you to get this dual degree in one shot.  Federal MD/PhD programs from the Medical Scientist Training Program are available as well as other such programs that are funded by private institutions.  These programs are not easy to get but often come with full tuition scholarships and stipends.

Studying Abroad

Medical degrees tend to be cheaper overseas.  You just have to make sure that the program is accredited and that you will be able to use your degree wherever you plan to go when you complete your studies.

These 5 simple ways to help lower the cost of obtaining a medical degree can make a affording a medical degree possible for anyone.  You may be able to reduce the cost of tuition or you may be able to get a free ride.  In the end, just realize that if you really want a medical degree then there are ways that you can afford it.

Thomas Rheinecker writes about how to obtain your PhD in nursing.