Save £188 a month from birth to put child through medical school, GPs warned

GPs who want their child to follow them into medical training would have to save £763 a month to allow them to graduate debt-free if they start saving once the child takes their GCSEs, a financial firm has calculated.

Savings: experts warning over cost of medical education (Photo: JH Lancy)

Parents would have to save £188 each month to pay their child’s way through medical school if they began saving at birth, according to Wesleyan, a provider of financial services to doctors.

Following the increase in tuition fees to a maximum of £9,000 a year in 2012, the BMA estimated that medical students are likely to graduate with debts of £70,000 if they receive no parental support.

Research carried out earlier this year by Wesleyan found that 72 per cent of doctors believed the increase in tuition and training cost would put people off entering the medical profession.

Higher fees deter students

Speaking after the rise in tuition fees in 2012, then chairman of the BMA junior doctors committee Dr Tom Dolphin said little consideration had been given to the effect of higher fees on longer courses such as medicine.

In evidence to the House of Commons health select committee, Dr Dolphin said: ‘There’s no doubt that these huge debts put people off applying to medical school, particularly people in lower socioeconomic groups.’

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins


Already registered?

Sign in

Just published

Dr Zoe Norris

GPDF slashes costs and overhauls funding rules to 'restore trust' with GPs

The General Practice Defence Fund (GPDF) has cancelled contracts worth hundreds of...

Churchill Gardens

Scheme from Brazil helps address health inequalities in London practice

A scheme involving community health and wellbeing workers, which is based on a long-standing...

Talking General Practice logo

Podcast: How an initiative from Brazil could help general practice and improve outcomes

Dr Matt Harris and London GP Dr Connie Junghans Minton explain how an initiative...

Medical centre sign

One in three GP practices in Northern Ireland faced serious closure risk in past 18 months

One in three GP practices in Northern Ireland have faced a serious risk of closure...

BMA sign

BMA warns Treasury 'many practices' will close without emergency financial support

GP leaders have urged the Treasury to agree emergency funding to support general...


Practices can use £172m PCN cash to support staff pay rises, GP leaders say

Practices can use their share of £172m from the 2023/24 investment and impact fund...