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Survey of medical student finances, 2005 - 2006

November 2006

For several years, the BMA Health Policy and Economic Research Unit (HPERU) has conducted a survey each year of medical students’ finances on behalf of the Medical Students Committee of the BMA. This report, which has been prepared by HPERU, presents the results of the 2005/06 survey, the twentieth, comparing these to the results from last year’s survey, where such comparison is possible and of interest. The questionnaire used was largely the same as last year’s although some minor modifications were made.

Executive summary
The questionnaire was sent out with the Student BMJ (March issue). As final year students can elect to receive the main BMJ, a separate copy of the questionnaire was mailed to those who had chosen this option. The total number of completed questionnaires was 1,912 which represents about 11% of student members.

The basic characteristics of respondents were:

- Two thirds (66%) of respondents were female.

- Although the vast majority said they were on a traditional course of either 5 or 6 years, 12% said they were on a graduate entry (i.e. 4 year) course.

- The great majority (82%) of those not on a graduate entry course were aged 24 or under, while about two fifths of those on a graduate entry course were aged 27 or over. over one quarter (28%) of respondents said they were regarded as an independent student for student support purposes

- About one quarter (26%) of respondents said that they had taken another degree course before commencing medicine

- Just over half (51%) of students live in a privately rented flat or house, and 18% in a university hall. The overall average monthly expenditure for those who gave a figure was £304 (last year £289) but the figure for London (£412 per month) was about £110 higher than elsewhere.

- 18% of respondents came from families whose father (or other main family breadwinner) was in a managerial occupation, 44% from a professional occupation background and 23% from other white collar backgrounds. Only 13% of respondents came from a “blue collar” (skilled trade, semi-skilled or unskilled) occupational background.

All non-independent students were asked if their parents were supposed to make a contribution towards either or both of maintenance & tuition fees. Around three fifths said they were.

About two fifths (38% - this includes independent students) said they received additional money from their parents – the average was £2,426.

Just under half (48%) of respondents said that they received money from other sources such as the NHS bursary, scholarships etc.- the average received was £2,218

Nearly two-thirds (65%) of respondents had some income from vacation and/or term time employment and the average amount earned was £1,901

The overwhelming majority (92%) said that they had a student loan & the average amount owed by those who have taken out a loan is £11,550, but this rises to £18,377 for those graduating in 2006.

Other sources of debt include a bank overdraft (60% of respondents), a bank loan (17%) and credit card debts. Adding these to the student loan means that under 3% of respondents had no debt. The average amount was £12,657, rising to £21,755 for those graduating in 2006.

Just under one-fifth (19%) of respondents said they had gone on an elective in the year

Total monthly expenditure on day-to-day living expenses (food, entertainment, personal items, & household items) and accommodation was £533 (£623 in London).