How much does it cost to study medicine?

“Dr”- The salutation yearned for by many, a dream that runs in the veins of millions. The dream of becoming a doctor has been evergreen for ages, and why not! While everyone may have their own different reasons for treading this path of medical education, there is no denying the fact that you get to step into one of the noblest and most respected professions. 

Doctors are in high demand across the globe, and the recent pandemic has shown us the true face of the scarcity of medical professionals. There is a long way to go before we have enough medical resources and professionals. 

This brings us to an important question. When there are so many reasons to choose this sought after field, why is there a gap between the actual and the required number of medical professionals?

The answer lies in mainly two factors: mental strength and the financial requirement. 

1. Mental Strength:

 Medical education is one of the toughest and taxing fields. Also, the one that continues forever. Doctors are always on their toes to learn new advancements in the medical field, new ailments and new solutions. The preliminary medical entrance exams select the people who are most fit to carry on in this difficult environment, reach the “Doctor” salutation and then survive the challenging life of a healthcare professional who deals with life and death every day.

This, along with a few infrastructure factors, explain the reason behind the rare selection ratio in medical entrance exams. So, not everyone who aspires to be a doctor can be a doctor! Along with your own hard work, it also requires proper mentorship to sail through this long river of medical studies. 

At eGurukul, we have handpicked mentors who are always available to guide you and prepare you for the next level. 

2. The Financial Requirement:

The fees of medical education has always been a point of concern. It is definitely a costly affair. There is a huge difference between the fees of government medical colleges and private medical colleges. On the one hand, in the government colleges, you can complete your medical education in less than a lac rupees. On the other hand, studying at a private medical college means you need to invest a minimum of Rs. 50 lacs, which can be up to or more than 1 crore in some colleges. 

Then why not study at a government college itself? Well! The perks come with a cost.

As per the latest statistics, there are close to 80000 government college seats for which around 16 lac aspirants contest every year. That’s an almost 5% success rate in securing a government college seat. 

What happens to the rest of the aspirants? Do they give up on their dreams? 

Well! It is then that the financial factor comes into play. 

Things to consider while choosing a medical college: 

• Ranking of College: All colleges have been given a ranking as per NIRF (National Institutional Ranking Framework). While selecting the best college for yourself, have a look at its ranking to take an informed decision. Usually, the government colleges rank higher and also have lesser fees as compared to their private counterparts.  
• Placements: Another important parameter while selecting the college. Look at the placement history of the college. Take a step further and talk to the pass out students too. While looking at that parameter, also have a look at the cost of the course. If a delta change in placement percentage is causing lacs of change in the fees, point to ponder upon. 
• Infrastructure: If not so much in other courses, infrastructure is particularly a big factor to consider in medical courses. Infrastructure plays a major role in your learning, experience, exposure, and, not to forget, placements too. Check the learning aids, lab and practical exposure and necessities too. However, sometimes infrastructure may have a direct impact on the fees of the college. In that case, analyze the necessities as per the cost. 
• Campus culture: Have a look at the culture in the campus, the students, the things other than studies, they do matter a lot. Talk to the existing students and also those who have passed out students. This point, however, does not have much relation to the cost of studies but is definitely an important point. 

Cost of Medical Studies

The cost of medical studies, as already discussed, has a lot of variation based on whether it’s a government college or aprivate college. 

• Work hard, prepare well and reach the top of the bell curve. Relativity is the real game. Score well in the entrance exams, and reach a government college. With that, you can be a doctor by spending less than Rs. 1lac.

• If things do not work out and you get a lower rank, not good enough for a government college,  decide on a good private college based on the factors discussed above. 

MBBS Fees at some Medical Colleges in India

City	College	Approx fees for 5 years
New Delhi	All India Institute Of Medical Sciences	INR 21,140/- (inclusive of hostel and mess expenses)
Aligarh	Jawaharlal Nehru Medical College, AMU, Aligarh	INR 2,00,000/-
Puducherry/Karaikal	JIPMER Medical College	INR 128000/-
Vellore	Christian Medical College	INR 2,41,650/-
Varanasi	Institute of Medical Sciences, BHU	INR 74,370/-
Gangtok	Sikkim Manipal Institute of Medical and Science (SMIMS)	INR 85,00,000/-
Mangalore	Kasturba Medical College	INR 72,00,000/-
Chennai	SRM Medical College Hospital and Research Centre	INR 1,36,20,000/-

*The fees are indicative and based on data as per years 2020 and 2021

Also, medical education does not usually stop with just a bachelor’s degree. It definitely requires a post graduate higher education. Students can select the stream as per their goals and interests. Here are a few options that can be considered post MBBS.

• MD/MS/Diploma: 
• Biomedical engineering: 
• Courses outside India: 
• Diplomate of National Board or DNB: 
• Clinical Research: 
• Masters in Public Health: 
• M.Sc in different fields:
• M.Tech in Biomedical engineering: 
• Masters in Medical Science and Technology or MMST: 
• Masters in Health Administration or MHA:
• MBA: 

Ranging from INR 5 lac to INR 15 lac per annum, these postgraduate courses again cost their share. 

What makes medical education so expensive?

As already discussed, there are two faces of this coin. The government subsidized medical education in India is one of the cheapest globally, while if we talk about private colleges, it is one of the most expensive. 

What makes it such a costly affair?

Let’s talk about the cost heads involved in imparting medical education:

• The most important point is the huge gap in demand and supply. There are just a fistful of seats available to an ocean of medical aspirants.
• To establish a medical college, it is imperative to have a fully functional hospital and research facility running at a healthy level for a minimum of 5 years. To set up and run such a facility, a minimum of INR 500-700 Cr. is required. 
• The laboratory practical requirements in a medical college are extraordinary. For example, cadavers are required for study and it is not easy to get these bodies for study purposes. These requirements cost a lot of money. 
• The medical college faculty comprises senior doctors, all specialists in their respective fields. Their salary makes a big component of the cost. 

The cost in both government and private institutes is high. However, in government institutes this cost is not passed down to the students, and they receive subsidized education. 

Entrance tests to PG courses

All of these courses have an entrance test that requires extensive preparation. 

Below are some of the required entrance tests for these PG courses for aspiring specialist medical professionals:

Name of the Exam	Courses offered
NEET PG	MD/MS/PG Diploma/DNB post MBBS
NEET MDS	MDS/PG Diploma (dental)
AIAPGET	MD/MS/PG diploma (AYUSH Courses)
FMGE	Licensing Examination
DNB PGCET	DNB
NEET SS	DM/ MCh.
FET	FNB
AIIMS PG	MD/MS/DM/MCh., MDS (from AIIMS, Delhi)
JIPMER PG	MD/MS/MDS (from JIPMER)
PGIMER	MD/MS (From PGIMER, Chandigarh)
AIIMS SS	DM/MCh./MD(Hospital Administration) (from AIIMS, Delhi)
PGIMER (Other)	DM/MCh./MD (Hospital administration)/MPH/PGDPHM/MDS(House Job) (From PGIMER, Chandigarh)
NIMHANS	MD/DM/M.Ch. (From NIMHANS, Bengaluru)

The eGurukul platform of DBMCI (Dr Bhatia Medical Coaching Institute) provides a complete learning platform to these aspiring young doctors. With eGurukul, the PG aspirants can select the PG preparation package as per their choice at the comfort of their home. Without disturbing their ongoing studies, they can start preparing for higher studies. 

Our Mock tests and comprehensive question banks make sure you prepare well and assess yourself well before appearing for the actual exam. 

Scholarships for Medical Education

Thankfully, there are scholarships available for deserving medical students that make sure that nobody loses out on an opportunity just due to financial reasons. 

Here is a list of a few of them: 

Top Scholarships for MBBS students: 

• Nationwide Education and Scholarship Test (NEST Senior)
• Bharati Scheme for Education
• Vijayalakshmi R.L. Jalappa Scholarship
• Vahani Scholarship
• HDFC Educational Crisis Scholarship
• Combined Counselling Board Scholarship
• All India Pre-medical Scholarship Test
• All India Youth Scholarship Entrance Examination (AIYSEE)
• Swami Vivekananda Merit Cum Means Scholarship
• SHDF Scholarships

Scholarships for Indian students to study MBBS abroad: 

• Algoma University Chancellor’s Award
• NCI Master’s Edge Scholarship
• JGC-S Scholarship Foundation
• Sato Yo International Scholarship Foundation
• Pearl International Award

Scholarships available for NEET Qualified students: 

• College Admission Scholarship Application (CASA)
• Schindler Igniting Minds Scholarships
• INSPIRE Scholarship
• AICTE Pragati Scholarship for Girls
• Foundation For Excellence (FFE) Scholarship
• Dr APJ Abdul Kalam Ignite Awards
• National Scholarship Test (NST)
• Combined Counselling Board (CCB) Scholarship
• Indian Oil Academics Scholarship

Education Loans for Medical Education

Securing a scholarship depends on several factors that are not met by everyone who cannot afford the course. For others, education loans come to the rescue.

Many banks in India offer education loans at an interest rate of 8.75% and above with a moratorium period, minimum documentation and hassle-free application process. This makes an education loan your biggest support to finance higher studies. 

Let’s have a look at the education loans available with some of the best banks in the country:

Bank	Interest Rate	Tenure	Maximum Loan Amt
Axis Bank	13.7%p.a onwards	15 years	INR 75 lacs
Bank of Baroda	8.75% p.a. onwards	15 years	INR 80 Lacs
Canara Bank	9.35% p.a. onwards	15 years	Need Based
Federal Bank	10.05% p.a. onwards	15 years	India- Rs. 10 lacsFor abroad: Rs. 20 lacs
HDFC Bank	Case basis	15 years in India, 14 years abroad	India: Rs. 30 lacs.Abroad: Rs.45 lacs

Looking at the overall picture of medical education cost in India, on the one hand, you find the cheapest education available in government-subsidized colleges and on the other hand, the same education costs an arm and a leg in private medical colleges. 

Securing a seat in a government medical college requires extensive preparation. 

eGurukul comes with 25 years of experience helping PG aspirants become specialized doctors.  The expertise of DBMCI combined with today’s technology brings to you the eGurukul app, the best supplement for your extensive hard work. 

With the eGurukul app, prepare for NEET/NEXT/INI-CET/FMGE/NEET MDS, all at the comfort of your home, without disturbing your regular studies. 

At eGurukul, 

• Figure out every single doubt via in-app doubt solving
• Access to engaging and error-free expert videos
• Access to a fully conceptualized, comprehensive and exam style question bank. 
• Interact with other students and faculty via newsfeed and keep learning
• With our subject wise performance analysis and recommendations, keep track of your learning and areas to improve.