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The Collective Trust Game: An Online Group Adaptation of the Trust Game Based on the HoneyComb Paradigm
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The Good Investment.

John E Prescott1, Julie A Fresne, James A Youngclaus

  • 1J.E. Prescott is chief academic officer, Association of American Medical Colleges, Washington, DC. J.A. Fresne is director, Student Financial Services, Association of American Medical Colleges, Washington, DC. J.A. Youngclaus is senior education analyst, Association of American Medical Colleges, Washington, DC.

Academic Medicine : Journal of the Association of American Medical Colleges
|January 26, 2017
PubMed
Summary

Financing a medical school education is a sound investment, regardless of the chosen funding path. Understanding financial concepts and repayment options ensures affordability for all aspiring physicians.

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Area of Science:

  • Medical Education Economics
  • Physician Financing Strategies

Background:

  • Medical school education is a significant financial undertaking.
  • Various financing options exist, including federal service programs and loans.
  • Understanding these options is crucial for students and their families.

Purpose of the Study:

  • To analyze the economic viability of medical school education financing.
  • To highlight the importance of financial literacy for medical students.
  • To discuss the impact of different financing pathways on future physicians.

Main Methods:

  • The commentary reflects on an economic analysis of medical school financing options.
  • Personal experiences with the Armed Forces Health Professions Scholarship are shared.
  • Insights from interactions with medical students nationwide are incorporated.

Main Results:

  • Medical school education is a worthwhile investment irrespective of the financing method.
  • Federal loan repayment plans can be income-dependent, ensuring affordability.
  • All accepted U.S. medical students can find a financing path aligning with their values.

Conclusions:

  • Medical education offers substantial long-term personal and societal benefits.
  • Financial preparedness is key for navigating medical school debt.
  • Diverse financing avenues make medical education accessible and manageable.