A BMA survey revealed students from poorer backgrounds are hit hardest, often forced to rely on private loans, max out overdrafts, and juggle multiple jobs just to afford the basic costs of qualifying as doctors.
The BMA is urging the Government to address this funding gap and back up its commitment to make a career in medicine accessible to students from as many backgrounds as possible.
Leading the Fix our Finance campaign, Henry Budden and Dr Sophie Mitchell, deputy co-chairs (finance) of the BMA's medical students' committee, said: 'Graduates are leaving university with tens of thousands of pounds of debt and despite this they'd rather see their student loan increased than be left with so much less in their final year.
‘This situation isn't sustainable and does nothing to help those from poorer backgrounds or improve participation in medicine. Medicine is longer than many other degrees for good reason; because we want to ensure doctors working in the NHS have the best possible training. It is only right then that they should receive the appropriate funding to see them through the entirety of their course.'
The BMA wants the Government to address the drop in funding by ensuring medical students receive the full student finance maintenance for the entirety of their course. The union says this is a small ask, costing the Treasury £24m, only 0.12% of Student Finance England annual lending.