Medical students borrow £15,000 from parents

Medical students have to borrow around £15,000 from their parents to get through their degrees, research from the BMA suggests.

Students rely on parental support
Students rely on parental support

The report highlighted that two thirds of students are now relying on parental support while they study, with the average family being forced to find £3,123 a year.

This could see lower and middle income households being priced out of sending their children to medical school, the BMA said. The report also suggested students in their final year of study had an average debt of £22,821, a 20 per cent increase since 2007/8.

Louise McMenemy, student finance lead at the BMA, said the UK faced a 'growing crisis' in medical student finance, but she added that many policy makers were 'unwilling' to address the issue.

'The expense of studying medicine now means that many families are facing what is effectively a hidden, unadvertised tax of around £3,000 per year,' she said.

'It is vital that these huge financial burdens are tackled, especially by the current higher education funding review, and not exacerbated by any further rise in tuition fees.'

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