Scholarships are more important than ever

In reflecting over my years at MUSC, it is amazing how vividly I still remember my first day on the MUSC campus in the mid-‘70s. All business during those early years was conducted with very little technology. A typewriter and a desk telephone served as the technology of the day! It was a different world that was much slower paced, but the College of Medicine – throughout the years – has continued to graduate physicians who have served the population of South Carolina and the nation with great distinction.

One of the most notable changes I’ve seen during my time here is the cost of a medical education and the commensurate need for scholarship support. In 1970, the cost of in-state tuition was less than $1,000 per year. Due to years of rising costs and steep cuts in state and federal support, tuition has continued to climb. For the 2020 entering class, tuition and fees were $37,550. These numbers do not include rent, insurance, gas, food, books, clothes, etc., which all push the cost of attendance even higher. Approximately eighty percent (80%) of COM students graduate with educational debt. The mean debt level for the 2019 medical graduates was $207,000. This is an enormous amount to repay as these young physicians begin residencies and assume additional life responsibilities.

The good news is, scholarship support has drastically increased over the past 10 to 15 years, but we still lack the funding resources of many other medical schools. Excellent students are being accepted at many medical schools; we want them to remain in South Carolina and study at MUSC. Scholarships allow this to happen!

We need all of you to help!  Many of you already have established endowed scholarships and many continue to pledge your support to the COM Alumni Loyalty Fund, a class scholarship fund, an endowed chair, or others - thank you so much for your generosity. For others who may wish to begin a new or greater level of giving, please call 843-792-0549 or email taylorwl@musc.edu and I will get the ball rolling for you!