Families should save early for aspiring doctors

Parents of aspiring young doctors should start saving whilst they are tots.

According to findings in the British Medical Association’s latest medical student finance report, many families are being forced to find an average £15,000 to get their child through a five year medical degree.

On graduating, many junior doctors start their career with an average £22,851 of debt.

The number of students embarking on a career in medicine from low income families still remains poor.

The BMA’s student finance lead, Louise McMenemy said: “The expense of studying medicine now means that many families are facing what is effectively a hidden, unadvertised tax of around £3,000 a year – the average amount that parents currently have to give their children to get them through medical school. This equates to an estimated £15,000 over the five year medical degree course, a sum that many middle income, as well as low income families may find difficult to find during a time of recession, especially if they have other children who plan to go to university.”