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

For Indian 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 INR 2.12 crore) on average at public and private schools.

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Tips for paying for medical school as an Indian student

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

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

  • Fulbright-Nehru Fellowships for Indian 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
  • Udaan India Scholarship

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

3. Submit the CSS profile

While Indian 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 (INR 2,080) for first school, US$16 (INR 1,331) 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 Indian students, there are several loan options to consider:

Indian bank education loans:

  • Require collateral for amounts over INR 7.5 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 (INR 83.2 lakhs)

Key statistics for Indian medical students in the U.S.

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

  1. Total number of Indian students in the U.S. (2023-2024):Indian students now form the largest international student group in the U.S., with a record-breaking 331,602 students in 2023-2024. This surge reflects a growing trend of Indian students seeking world-class education and better career opportunities in the U.S. Source: IIE Open Doors 2024 Report
  2. Year-over-year growth – Indian students in the U.S. (2022-2023 to 2023-2024):The number of Indian students in the U.S. increased by 23% in just one year, highlighting the strong demand for American education. This is the highest annual growth rate in over a decade, showing a clear shift in global mobility trends. Source: IIE Open Doors 2024 Report
  3. Top U.S. states with highest Indian student populations:As of the 2023–2024 academic year, Indian students constitute a significant portion of the international student community in several U.S. states. Notably, Indian students account for more than 40% of all international students in Missouri, Texas, Arizona and New Jersey. Specifically, Texas hosts the largest share, with 11.8% of all Indian students in the United States.​ Source: FACTLY – Data

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FAQs

What’s the total cost of medical education in the U.S. for Indian students?

The total cost, including tuition, living expenses and exam fees, typically ranges from US$300,000 to US$400,000 (INR 2.5-3.3 crore) for the complete program. This varies by location and institution.

Can Indian students work during medical school in the U.S.? 

Medical schools generally discourage outside employment due to the rigorous academic schedule. However, opportunities exist for research assistantships and summer programs that can provide some income.

What are the eligibility requirements for MPOWER loans for Indian medical students? 

Indian students need admission to an eligible U.S. medical school, a valid student visa and must meet MPOWER’s academic requirements. No cosigner or collateral is required.

Are there specific scholarships for Indian medical students? 

Yes, several organizations offer scholarships specifically for Indian medical students, including the Fulbright-Nehru Fellowships, AAMC International Student Scholarships and various cultural organization scholarships.


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