Doctor explains "how much does medical school cost in NZ?" Can he pay it off?

 

 
 
A lot of students might think medical school is too hard to get into and part of this might be the cost of medical school itself. 

In New Zealand, students are lucky to have interest-free student loans which are payable once you start earning money after graduating. This takes a lot of pressure off. The whole loan may be bigger than 80,000 dollars but you can focus on your career because you will eventually pay it off and there is no huge rush to pay it off because it is interest-free.

BUT! There are also other costs like transport and food - If you are like me, most students have a side job to support themselves. Also, student allowance funds us for 200 weeks. This lasts until the end of 5th year. Super wealthy families might be alright but if you live out flatting in Auckland, it might be a struggle.

As a final year medical student - you receive a grant which is about 27000 dollars. This helps with daily living costs and well as the elective placement, where most people choose to go overseas for this, which does cost a lot.

Super snippet insight into financial cost of medical school in NZ. There are multiple factors determining affordability. This video dissects the costs of medical school only.

The cost is not exact