The American College of Physicians has published a study that compares the cost of a three-year residency at a four-year university versus a three year residency at another university.
The College found that students who are studying abroad in the fourth year have lower tuition and fees than those who are in the third year, but that those who attend graduate school have higher rates of graduation.
The College said that those costs are offset by higher wages.
The report, titled “The Cost of Studying Abroad,” also found that a student who has completed their residency will receive $24,000 more in postgraduate compensation and $17,000 in post-graduate salary than a graduate of the same institution.
“A graduate student at a university with a 4-year program will receive a salary of $52,000 versus a graduate at a 4 year program with a 2-year school,” the College said.
“The graduate will also receive a lower average debt load.”
The College also noted that a graduate with a two-year degree will earn more money than a one-year graduate.
It also found a graduate from a two year university who completed their degree in the same academic year with a $42,000 increase in compensation.
But it said that graduate students with a degree in another field may have an additional benefit to their compensation: they will receive an additional year of postgraduate training, while other students may only be given an additional three years.
Read more about the study here: The Associated Press article College students may have to pay more for residency compared to other students in the UKA study released Monday suggests that, even with tuition-free graduate programs, some of the most expensive students in Britain could have to foot the bill for a residency.
The British government recently announced that students studying abroad would have to shell out up to £12,000 ($20,000) more per year in tuition and other fees, in addition to their tuition.
According to the study, a three and four year undergraduate at a UK university would have the equivalent of an undergraduate degree, but the equivalent at a two and four-month graduate program would be between £4,800 ($7,300) and £7,600 ($8,100).
“The UK will be the only major European country without a graduate residency program,” the report said.
Its authors compared the costs of a four year program to the equivalent amount at a US medical school, including costs such as textbooks and lab supplies.
They also noted the cost savings that would accrue to students, which would allow them to take advantage of the lower costs of living in Britain.
One of the study’s authors, Professor Paul Jaffe of King’s College London, said that while there is “no evidence that this is going to lead to higher wages,” he said it could be an opportunity for graduate students to make extra money.
He said that the higher costs of medical school could lead to “an opportunity for young people to get a foot in the door,” but said it was still early in the study and not conclusive.
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