Paying for medical education is a top priority for students applying to medical school. There are financial commitments right from the start with application fees to tuition fees and lab fees, the list goes on. Luckily though, medical schools do offer several scholarships to eligible candidates to reduce the burden of hefty payments during their studies.
The Caribbean medical school cost is reasonable making it an affordable option for potential students. Tuition and other fees must be remitted in different installments, reducing students’ financial burden.
Below is a comprehensive list of the various costs in tuition and fees that medical school students will need to pay for their education.
Tuition And Fees
Students must pay basic science and clinical medicine MD program tuition fees at the beginning of the respective program. The basic science program taught during semesters one to five carries a tuition fee of around $16,000 to $17,000. You will need to pay $21,000 to $22,000 in tuition fees for the clinical medicine program in semesters six to ten. Tuition costs might vary depending on the month of intake into the medical school.
The tuition deposit paid during the admission process is $500 and is refundable after the program. Aside from the semester tuition, there is also a gateway medical program tuition fee of $4000.
Besides tuition, students are also supposed to pay an administrative fee for each of these programs. The administrative fee for the first five semesters is around $5,200, and the final four semesters are each $3,500. There is also a non-refundable administrative fee of $100 for all medical schools.
The part-time tuition costs $565 per credit hour and the part-time administrative fee is valued at $165. You should always make sure that the tuition fees are paid on time and without delay, failing which there will be a late payment fee of $200 in addition to the total tuition costs.
The tuition and administrative fees are the major expenses in medical schools. However, there are a lot of other fees that the students will need to pay during their studies. For example, you must remit a malpractice insurance fee of $295, a graduation fee and deferment fee of $500 each, a transcript fee of $10, etc.
Deposits And Fees
Medical education starts right from the point of submitting your application whether you are selected or not. Every medical school has an application fee of around $75 to $100. Plus, the laboratory sessions form an important part of your basic sciences curriculum and include a lab fee of $295.
There are also other small amounts like $50 for student activity, $125 for shelf exams, and other such costs.
Important Financial Information
The tuition and admission fees must be paid two months before the beginning of each new semester and the bill payment receipt must be recorded for any further use or clarifications. The fees for the clinical medicine program must be paid before the graduation date or it can put your place at risk.
Medical schools have the right to cancel the enrolment if the student fails to remit the tuition fees and other fees on time. However, students can also apply for various scholarships provided by the universities based on their eligibility.