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The Editors

The Cost of Training Doctors Offshore

U.S. tax dollars are financing for-profit medical schools in the Caribbean that are not accredited in the U.S., Janet Lorin reports in the October issue of Bloomberg Markets magazine, putting taxpayers, students and patients at risk. The U.S. may face a doctor shortage, but this isn’t the way to fix it.

Thanks to a legal loophole, three schools -- American University of the Caribbean in St. Maarten and Ross University in Dominica, both owned by DeVry Inc., and privately owned St. George’s University in Grenada -- received about $450 million last year in federal student loans, despite lacking the same certification as U.S. medical schools. A fourth school, Saba University School of Medicine, will soon be able to receive federal money as well.