US medical school finances
Article Abstract:
Medical education is not cheap. In the 1989-1990 academic year, the 126 medical schools in the United States tallied up expenditures totalling $18.3 billion. Only 4 percent of the income of medical schools comes from tuition; among public medical schools, only 2.7 percent comes from this source. The largest fraction (30 percent) of medical school income derives from physician practice plans. Although the fraction of income provided by grants and contracts is not as large as it used to be, it is still substantial; 25 percent of medical school income derives from grants and contracts. The recovery of indirect costs (i.e. heating, maintenance, and construction costs) accounts for an additional 7 percent. The majority (52 percent) of the grant money comes from federal research grants. The remainder is divided among teaching grants, service contracts, and research other than federally supported. In addition to federal research grants, 15 percent of the total income of medical schools comes from government appropriations. Most of this income (53.2 percent) is spent on instruction and research. Salaries for house staff account for 4.3 percent, and scholarships a mere 1.1 percent. The operation and maintenance of the school itself requires 3.8 percent of the total budget. One of the trends indicated by these data is that providing services is becoming an increasingly important source of revenues for American medical schools. (Consumer Summary produced by Reliance Medical Information, Inc.)
Publication Name: JAMA, The Journal of the American Medical Association
Subject: Health
ISSN: 0098-7484
Year: 1991
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US medical school finances
Article Abstract:
A survey of all 126 fully accredited medical schools indicates that their total revenue was $23,147 million in 1991-92. This is a 5.7% increase over 1990-91 when adjusted for inflation. Tuition for medical schools has increased 53.5% after adjustment for inflation since 1981-82. Though the number of students applying for loans has not increased over the past 10 years, the amount of money borrowed has. The total amount of financial aid awarded to medical students in 1991-92 was $930.3 million. Slightly more than 80% of all medical students have some educational debt. The mean amount of debt for 1992 graduates was $55,859. In 1982, the mean level of debt was $21,051.
Publication Name: JAMA, The Journal of the American Medical Association
Subject: Health
ISSN: 0098-7484
Year: 1993
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- Abstracts: US Medical school finances. US medical school finances
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