One of the best kept secrets in Caribbean Medical Schools | Trinity School of Medicine | student loans for Caribbean medical school

In Canada in 2017, only 2,617 of the 13,690 applicants were admitted to medical schools. An astonishing 81% of the applicants- many of whom would make phenomenal physicians- found themselves rejected at home. For many people considering medicine, becoming a doctor is a calling. So, a large percentage of those Canadian applicants without a seat looked abroad—most of them to the Caribbean, but some considering Ireland, Australia, and Eastern Europe as well. But, what happens when school is over? In 2018, of the 1,758 international medical graduates (IMGs)- most of whom were Canadians that tried to match back home- only 123 were selected. This is by no means to say that this isn't still a viable path for Canadians, and a fair number of Trinity graduates have matched in places like Ontario, Calgary, British Columbia, Alberta, and Manitoba.  

The point is that the decision to study abroad is a major one, with many factors to consider, from proximity to home, to academic approach, matching, cost, and long term career plans.

After the US Department of Education's NCFMEA recognized our accreditation as comparable to the LCME, we received a number of questions about Title IV and future plans for Trinity. While we can't say it won't ever be an option for us, we are not currently offering Title IV loans for our students. The reasons why are fairly straightforward (it would limit access to Trinity for US students). There are some misunderstandings out there about how Title IV actually works, so we're going to dive into the entire situation here, today.

We're also going to cover our newly improved student loan program, and how it's actually a better deal than the current federal loans out there. Ready? Let's go.

 Last year, St. Vincent and the Grenadines received formal recognition from the US Department of Education’s NCFMEA as having medical education standards comparable to those of the LCME in the United States. This recognition allows medical schools in St. Vincent and the Grenadines that are accredited by CAAM-HP to apply for Title IV recognition and federal student loans for US citizens from the Department of Education.

As the only medical school accredited recognized by the US Department of Education in St. Vincent and the Grenadines, we have already been asked by prospective and existing students about our federal loan status. It's a complicated issue, and one we're happy to dive into today.

According to the Association of American Medical Colleges, over 80% of medical school graduates leave school with debt. The median amount of education debt carried by U.S. medical graduates in 2015 was over $180,000. This is significant but surmountable, given the salary of a physician. However, the bigger Caribbean schools do not leave students with an average amount of academic debt. In fact, they can leave them repaying nearly twice as much. They also force students to deal with high attrition rates, 300+ member starting classes, and a sink-or-swim approach to both basic sciences and clinical rotations. 

The question, then, is this: is the greater cost worth it? Do you truly "get what you pay for" in that environment? Or is there a better option? One that also has a demonstrably better dedication to your future? Financially, culturally, academically, and professionally? 

We think so. And it shows in tuition, outcomes, and ROI.

Many of the 'Big Caribbean Medical Schools' want you to believe the old adage, 'You get what you pay for'. Does the end justify the means? Must you spend $200,000 plus in tuition (never mind fees, living expense, housing) in order to secure a Residency match? The answer is no. The cost of attending medical school ranges from less expensive options to very expensive options. While it's probably fair to suggest that the lowest cost options offer less student resources, what do the schools on the high end have to show for their price tags at rates that exceed top ranked U.S. schools like Johns Hopkins and Stanford Schools of Medicine?