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Students look for ways of lowering medical school costs

 While graduate school is expensive, there are plenty of ways students can make it more affordable, including scholarships, grants and loans.

When master’s or doctoral degree seekers wish to lower the cost of their schooling, they typically have to take the initiative to seek out financial aid options on their own. However, the Medical Student Government at the University of Iowa Carver College of Medicine has decided to take action toward lowering what its members believe to be "out of control" tuition, according to The Daily Iowan.

In fact, making medical school more affordable has become the Medical Student Government’s top priority. According to the news source, resident tuition rates at the Carver College of Medicine will be between $50,508 and $56,591 during the 2012-2013 academic year. Meanwhile, nonresidents can expect to pay anywhere from $66,572 and $72,655, with additional fees.

Students who enroll in the Carver College of Medicine can pursue master’s degrees in subjects such as medical education and physician assistant studies, as well as doctoral degrees in medicine, philosophy and physical therapy, according to the school’sWeb site.

Currently, the Medical Student Government is considering a proposal titled "Invest in a Student’s Tuition," the news outlet reported. This option would see the creation of a system whereby investors would contribute money. These funds would then be used to help students pay for medical school. Once they graduate, these individuals would be expected to repay the money they borrowed - with an interest rate that rivals what is offered by banks - to the original investors.

"If the model works here, it will work everywhere," Shady Henien, president of the Medical Student Government’s Executive Council, told the news source. "At the very least, if this forces banks and it forces the government to decrease their interest rates, we will have succeeded."

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