Morgan State’s new med school will be a non-profit MD program.
Morgan State has not yet applied to the LCME for accreditation and still in the planning stage. A 2028 opening is anticipated.
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How much money is needed to open a new medical school? I am actually a bit surprised that $1.75M would go all that far.
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The $1.75M is just to pay for the planning committee.
The full cost of opening a new med school is in the $75-150M range. Allopathic med schools run closer to the higher end of the range because of the requirement for research facilities and faculty.
Additionally the LCME requires new schools to maintain a financial reserve equivalent to the costs of 3 years of facilities maintenance, faculty salaries, insurance and other operational expenses . Figure another $16- 150M/ year for that.
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