Business & Finance Careers & Employment

The Average Cost of Becoming a Doctor

    Medical Doctor

    • According to an American Medical Association survey, the average debt of graduates of medical school in 2008 was $154,000. This is an increase of 11 percent over 2007. This does not include the cost of an undergraduate degree nor room and board, just fees and tuition, which can run close to $50,000 annually at private medical schools.

    Dentists

    • The cost of becoming a dentist is similar to that of becoming a medical doctor and can be as much as $200,000 by the time you are done with graduate school and residency.

    Veterinarian

    • Costing about $80,000 to $100,000, veterinarian school is the cheapest, but the average salary is significantly lower for a vet than a doctor or dentist.

    Specialties

    • Specializing in a particular field will increase the overall cost of becoming a doctor. Whether it is a surgeon (medical doctor), periodontist (dentist) or equine (vet), additional education is required to be a specialist. This is usually one to two additional years of school, dramatically increasing the cost.

    School

    • Selecting the right school is an important part of becoming a doctor. The private colleges tend to have more prestige but also have a higher price tag. Public schools can be cheaper but may not carry the cache when you graduate. There is a trade-off when selecting between the two types and it comes down to money--pay more up front or make less in the end.

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