I don't understand how people can take that long to pay off loans while they make $150k+. The doctor is in and it is time for the 10 easiest countries to become a doctor.I have never wanted to be a doctor. This article is not over yet. Costs to Become a Psychiatrist. Don't sweat the money, If you're smart with your money you should be able to pay off your loans in under five years. According to the website for the American Medical Association, the average cost of all four years of medical school for the graduating class of 2009 was $156,456. This is expected to rise to R107,600 by 2025 and as much as R165,600 by 2030. How long does it take to become a pediatrician and how much does it cost? Degree Years Cost Bachelor 4 $40,000 -- $160,000 Medical School 4 $100,000 -- $160,000 Residency 3 Income $30,000 -- $45,000 per year For much of my training, I was not yet a parent. The process of earning your doctor of medicine degree takes about four years to complete. Here are some cost estimates based on our experience starting hundreds of practices over the past ten years. Fees in 2019 Below BusinessTech looked at the cost of a year’s study at universities around the country. Including the first 4 years of college and then medical school with no scholarships or grants it can range from $150,000 to $250,000 and even $300,000. Starting a private practice represents a dream-come-true for many physicians & providfers in the United States. How much does it cost to open a medical practice? My brother in law was taking home ten grand a month as a chiropractor and hardly paying anything on his loans. It does happen though. A psychiatrist must earn a medical degree, in addition to completing specialized psychiatric training and a four-year psychiatric residency. The cost of a doctorate degree depends on the type of degree that is being pursued and may require a significant investment or be fully funded. This cost can vary depending on … Residency sucks… and not just because of the intensity of the training and the stress of trying your best to become a decent physician. It depends on the school you choose to go to. Becoming a psychiatrist is a hefty investment, one that is comparable to the costs of becoming a specialized physician. The below costs are covered in more detail below.