Five ways to pay for medical school in the United States: A guide for Bangladeshi students

For Bangladeshi medical students, getting into a U.S. medical school is a remarkable achievement, but acceptance is only the first hurdle – you’ll also need to figure out how to cover costs. According to the Association of American Medical Colleges (AAMC), the average cost of tuition and fees for four years of medical school is US$250,000 (approximately BDT 12 crore) on average at public and private schools.

1. Use savings or income

Before taking student loans, consider using sources of funding that you don’t have to pay back. Many Indian families start planning for their children’s medical education early through fixed deposits or systematic investment plans (SIPs). You might also consider:

• Family savings or educational bonds
• Income from previous work experience
• Part-time work opportunities where permitted
• Teaching or research assistantships at your institution

2. Apply for grants and scholarships

Bangladeshi students have several scholarship options for U.S. medical education:

• Fulbright-Nehru Fellowships for Bangladeshi students
• Association of American Medical Colleges (AAMC) International Student Scholarships
• Institution-specific scholarships for South Asian students
• MPOWER Global Citizen Scholarships
• Cultural and community-based scholarships
• relevant scholarships for Bangladeshi students

Use scholarship search tools like eduPass and InternationalStudent and work with EducationUSA centers in Bangladesh to identify opportunities specifically available for Bangladeshi medical students.

3. Submit the CSS profile

While Bangladeshi students aren’t eligible for U.S. federal aid, they may qualify for institutional aid from their medical school. Many medical schools ask you to submit the CSS Profile to qualify for financial aid.

Offered by the College Board, the CSS Profile is a form that collects detailed information about your family’s finances, including assets and income. Schools look at your information to evaluate your financial need and award aid accordingly.

• Cost: US$25 (BDT 6,600) for first school, US$16 (BDT 4,200) for each additional school
• Required documents: Income tax returns, bank statements, property documents
• Deadline: Usually aligns with admission deadlines
• Tips for Indian applicants: Have financial documents translated to English and notarized

4. Apply to tuition-free medical schools

Some U.S. medical schools offer full-tuition scholarships that are also available to international students:

• American University of Antigua (AUA) College of Medicine
• Baylor College of Medicine
• Mount Sinai School of Medicine

While admission is highly competitive, these schools can significantly reduce your financial burden.

5. Consider an international student loan

For Bangladeshi students, there are several loan options to consider:

Bangladeshi bank education loans:

• Require collateral for amounts over BDT 4 lakhs
• Variable Interest rates typically range from 11-14%
• Often need a co-applicant

International lenders like MPOWER Financing:

• No collateral required
• Inflation-proof fixed interest rates
• No cosigner needed
• Loan amounts up to US$100,000 (BDT 50 lakhs)

Recent data highlights important trends for Bangladeshi students pursuing medical education in the United States: Recent data highlights important trends for Bangladeshi students pursuing medical education in the United States:

1. Total number of Bangladeshi students in the U.S. (2023-2024):In 2023–2024, more than 17,000 Bangladeshi students were enrolled in U.S. institutions, which is an all-time high. This is a 26% increase from the previous academic year. Source: opendoorsdata.org
2. Year-over-year growth – Bangladeshi students in the U.S. and Canada (2022-2023 to 2023-2024):Canada’s popularity as a study destination for Bangladeshi students has grown significantly. In 2023, over 15,800 Bangladeshi students chose Canada, a 150% increase since 2018. Meanwhile, the number of Bangladeshi students studying in the United States reached an all-time high, with more than 17,000 currently enrolled in U.S. institutions. Source: opendoorsdata.org, Government of Canada
3. Top U.S. states with highest Bangladeshi populations:For Bangladeshi students considering studying in the U.S., it’s interesting to know where many Bangladeshi Americans are located. According to a Pew Research Center report from April 2021, the largest Bangladeshi communities are in New York with 93,000 people, followed by Detroit with 14,000 and Washington, D.C. with 11,000. Source: Pew Research Center

These statistics highlight the growing presence of Bangladeshi students in U.S. educational institutions and the financial considerations for those pursuing higher education abroad.