Resolution: S-21-15: SUPPORT GUARANTEED TUITION LOCK FOR EACH INDIVIDUAL OSTEOPATHIC MEDICAL SCHOOL CLASS COHORT

[Valerie Lile]

1  WHEREAS, the average medical student loan debt as of 2021 is roughly estimated to be
2  $215,900 with an average of $241,600 total debt³.

3  WHEREAS, the cost of attendance for medical school at private institutions has been
4  rising an average of 1.8 times that of inflation yearly while the cost of attendance at
5  public medical schools has been rising an average of two times that of inflation yearly⁹.

6  WHEREAS, high costs of osteopathic medical school education is now impacting
7  mental health of osteopathic physicians and heavily influencing specialty of choice
8  determined solely by salary⁶.

9  WHEREAS, osteopathic students with lower medical school debt were more likely
10  to pursue careers in primary care or underserved communities, while those with
11  higher medical school debt were more likely to pursue more lucrative specialties⁷.

12  WHEREAS, if medical school debt is lowered, there is a potential correlation
13  with a decrease in burn out within the physician profession¹.

14  WHEREAS, medical student loan burdens have been associated with further health
15  disparities by marginalizing underrepresented minorities and applicants from lower
16  income families⁴.

17  WHEREAS, many undergraduate university financial models have already adopted and
18  benefited from a tuition lock or freeze model².

19  WHEREAS, higher education financial analytics have shown that adopting a tuition
20  freeze model may increase the competitiveness and attraction of a school⁵.

21  WHEREAS, adopting a tuition freeze model initially may sound disadvantageous to a
22  school’s financial model. However, it has been calculated that a tuition freeze model is
23  feasible alongside a growing profit margin⁵.

24  WHEREAS, economists are predicting a sharp decline in university students in the next
25  five years, it is advisable for every major higher education institution begin to strategize
26  plans to retain the attractiveness of higher education with more affordable costs⁸.

27  RESOLVED, that a guaranteed tuition lock is defined as a promise of a set tuition
28  price for each graduating cohort with no increase in tuition costs across the four years of
29  attendance leading up to graduation.

30  RESOLVED, that the Student Osteopathic Medical Association support that every
31 American Osteopathic Medical School adopts a policy of a guaranteed tuition lock
32 for each individual cohort, and

33 RESOLVED, that the American Osteopathic Association encourage that every American
34 Osteopathic Medical School adopts a policy of a guaranteed tuition lock for each
35 individual cohort.

References:

1. Disrupting medical student debt: Could these big ideas do the trick? (2019, July 02). Retrieved January 31, 2021, from https://www.ama-assn.org/residents-students/resident-student-finance/disrupting-medical-student-debt-could-these-big-ideas
2. Hanover Research. (2014). Tuition and Financial Aid Incentives for Improving Graduation Rates. Washington, D.C.
3. Hanson, M. (2021, January 15). Average Medical School Debt [2021]: Student Loan Statistics. Retrieved January 31, 2021, from https://educationdata.org/average-medical-school-debt
4. How med student loan burdens can deepen health disparities. (2017, April 27). Retrieved January 31, 2021, from https://www.ama-assn.org/education/medical-school-diversity/how-med-student-loan-burdens-can-deepen-health-disparities
5. Patterson, L. (2019, February 23). Is a tuition freeze a good thing? Retrieved February 15, 2021, from https://www.pilbaragroup.com/is-a-tuition-freeze-a-good-thing/
6. Pisaniello MS, Asahina AT, Bacchi S, et al Effect of medical student debt on mental health, academic performance and specialty choice: a systematic review BMJ Open 2019;9:e029980. doi: 10.1136/bmjopen-2019-029980
7. Rohlfing J, Navarro R, Maniya OZ, Hughes BD, Rogalsky DK. Medical student debt and major life choices other than specialty. Med Educ Online. 2014;19:25603. Published 2014 Nov 11. doi:10.3402/meo.v19.25603
8. Skopec, C. (2020, December 03). Understanding the effects a tuition freeze can have on colleges. Retrieved February 15, 2021, from https://collegiseducation.com/news/higher-ed-trends/effects-a-tuition-freeze/
9. Trends in Cost and Debt at U.S. Medical Schools Using a New Measure of Medical School Cost of Attendance. (2012, July). Retrieved January 31, 2021, from https://www.aamc.org/media/5951/download

 

Submitted by:
Christine Cho, OMS-II – Alabama College of Osteopathic Medicine
Melanie Weyers, OMS-II – Alabama College of Osteopathic Medicine
Joslin Stanton, OMS-II – Alabama College of Osteopathic Medicine
Robert Halas, OMS-II – Alabama College of Osteopathic Medicine

Action Taken:

Date:

Effective Time Period:

[Author]

Posts