Average Medical School Debt: How Much Doctors Owe

Medical school is a significant financial investment. For the graduating class of 2026, the median four-year cost of attendance was $297,745 at public medical schools and $408,150 at private medical schools, according to the Association of American Medical Colleges (AAMC). 

If you’re considering a career in medicine, or you’ll soon begin repaying your medical school loans, here’s what to know about the average medical school debt and how to tackle it. 

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What is the average medical school debt today?

Medical school graduates in the class of 2025 left school with an average of $223,130 in total education debt, according to the latest AAMC data. That figure includes medical school loans and debt taken on before medical school.

The median medical school debt was $200,000, while the median premedical education debt, including undergraduate loans, was $28,000.

Here’s a closer look at the medical school debt for the class of 2025:

Private vs. public medical school debt

The type of medical school you attend largely dictates the amount of money you might need to borrow with medical school loans.

According to AAMC data for the class of 2025:

• Public medical school graduates: $210,147 in average education debt
• Private medical school graduates: $244,964 in average education debt

However, attending a private medical school can offer certain benefits.

"While private medical schools are often more costly than public schools, they usually have larger endowment funds, which can offer more institutional aid to offset the higher tuition costs for students," says Leslie H. Tayne, Esq., founder of Tayne Law Group, which specializes in debt resolution.

How has medical school debt changed over time?

The chart below shows how the average education debt among medical school graduates has changed from 2020 to 2025. Since 2021, average medical school debt has trended upward, increasing by nearly 10% over that period.

What does this debt mean for future doctors?

While the average medical school debt is high, it can be a worthwhile investment. 

"Medicine and dentistry are more secure forms of debt owing to the structured nature of residency and strong earning potential after training," says Dr. David Lenihan, former president and CEO of Ponce Health Sciences University. "While the total initial debt may be higher than law or pharmacy, when compared to total lifetime earnings, it actually ends up being significantly lower."

Seeing the numbers, however, can feel daunting — especially for recent graduates. 

Let’s say you’re about to start your first year or residency at a nonprofit hospital and expect a $68,000 stipend. For simplicity, assume that your income grows 3% annually. You owe $23,130 in Direct Subsidized Loans at 6.52% for your undergraduate degree, then borrowed $200,000 in grad PLUS loans for medical school at 8.94%.

In this scenario, staying in the default 10-year Standard Repayment Plan would require a $2,790 monthly student loan payment.

For some borrowers, managing medical school loans means making some tough long-term decisions. 

"It’s common for medical school graduates who have large sums of student debt to feel pressure to pursue higher-paying specialties or practice in higher-income urban areas, so they can repay the debt they accrued while in school," says Tayne, who also acknowledges that debt isn’t the only factor that influences physicians’ practice area. "Oftentimes, new doctors and physicians stay where they practiced residency, due to the networking connections, or have other obligations, such as family, that influence where they choose to settle long-term."

How can medical students manage high debt levels?

If you’re among those who have six-figure medical school debt, there are a few strategies that can ease this financial burden.

Make minimum payments during residency

A 2025 AAMC report revealed that residents and fellows earned an average of $68,166 in their first year of medical training. For this reason, Lenihan advises against pouring your residency or fellowship stipend into repaying medical school loans.

Instead, he encourages making minimum loan payments. 

"Residency is hard and the hours are long for limited pay," says Lenihan. "Use your funds to ensure you have a good work-life balance, and then after residency, make substantive movement on your loan debt," he explains. "But don't struggle with your repayments too early because you really don't have to, even if you feel like you do."

Making the minimum loan payment required by your repayment plan keeps your debt in good standing without sacrificing your livelihood. 

Explore state loan repayment assistance programs 

Many states offer access to loan repayment assistance programs (LRAPs) for medical professionals. These programs are designed to incentivize practitioners to serve in health professional shortage areas for a specific number of years.  

For example, Oklahoma’s Physician Loan Repayment Program offers as much as $200,000 over a four-year service obligation. You must agree to practice full-time in an approved rural community in the state. 

Available programs vary by state, but it’s worth looking into your state’s Department of Health website to learn about its LRAPs. 

See if you qualify for student loan forgiveness

One of the unique advantages that federal student loans offer is access to loan forgiveness. Programs like Public Service Loan Forgiveness (PSLF) can offer significant repayment relief after borrowers repay a portion of their total qualifying federal education debt. 

Under PSLF, participants must make 120 qualifying payments while working full-time at an eligible government or nonprofit organization. You must also be enrolled in a qualifying repayment plan when those payments are made, and must still be working for an eligible employer upon applying. After meeting all of the program's requirements, the remaining balance on your qualifying federal student loans is forgiven. 

Consider an income-driven repayment plan

If you want more flexibility in where you work or plan to go into private practice, an income-driven repayment (IDR) plan can make your federal student loan payments more manageable.

Your options depend largely on when you borrowed. Borrowers with loans disbursed before July 1, 2026, may still qualify for plans such as Income-Based Repayment (IBR), PAYE, or ICR. However, PAYE and ICR are scheduled to end by July 1, 2028. Borrowers who take out a new federal loan on or after July 1, 2026, have the Repayment Assistance Plan (RAP) as their only income-driven repayment option.

RAP bases monthly payments on your adjusted gross income and family size and offers forgiveness after 30 years of repayment.

Refinance your medical school loans

If you have private medical school debt — or you qualify for a competitive student loan interest rate and don’t plan to pursue loan forgiveness or IDR — refinancing your medical school loans may be worthwhile.

Under this repayment strategy, the refinance lender pays off your original medical school debt in full, and creates a new loan for the amount it repaid on your behalf. The loan will have a new rate, repayment term, and payment plan, and you’ll make installment payments to the new lender.

Be aware that if you refinance federal loans, that debt won’t be eligible for federal loan programs, such as PSLF, income-driven repayment, and flexible deferment or forbearance programs. 

Regardless of where you are on your medical school debt repayment journey, Lenihan offers this advice: "Help people, as many as you can. Your loan repayments and earnings will take care of themselves."