Less competitive programs may have only several dozen applicants. This is not nearly as easy as in college or high school, as med schools usually have only outstanding students, who are competitive and want to be ranked as high as possible. In addition, excellent recommendation letters and perhaps published research is necessary for the better programs. Less competitive programs are certainly easier to obtain and usually provide a high quality education. Cost of Medical Education Medical school is expensive.
Scholarships are very limited, so most students take out student loans.
Physician incomes are slowly decreasing in many areas due to managed care, and young doctors are often hard hit when student loans come due. It is difficult to work during med school due to the long hours, but some students manage to get in a few work hours each week. Parents of young students who are considering medical or other professional education should consult a financial planner and a financial aid officer, who can advise which investments or forms of aid are available to help pay for medical school. After medical school the med student is a physician, but cannot legally practice medicine without supervision until licensed. These are tough tests and a number of students fail, and must try again.