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Medical school scholarships could reduce your need to borrow federal and private student loans. You may use these scholarships for medical school to help cover tuition, fees, and living expense. In order to get a scholarship, the first place to look is the school’s financial aid office. Some med schools offer scholarships based on GPA, MCAT scores or financial need. Student aid may also come in the form of a grant or fellowship.
Professional med associations may also be a resource. The Chinese American Medical Society (CAMS) offers up to 5 awards of $5,000 each to Asian Americans. These go to first, second and third year medical students with financial need. The American Medical Association (AMA) offers the Physicians of Tomorrow Scholarship. It is for students entering their final year of med school.
You may also find LGBTQ awards and scholarships for women pursuing medicine. Women in Medicine (WIM) will present two, $5,000 LGBTQ Leadership Scholarships for female medical students enrolled in in their first, second or third year. It can be an allopathic, osteopathic, or naturopathic medical school in the United States or Canada.
Medical education is a lengthy process, so the cost may add up. Physicians first need a four year bachelor’s degree. Then, another four years of medical school. Also, another 3 to 7 years in internship and residency.
According to the Association of American Medical Colleges (AAMC), the four year cost to attend medical school for the class of 2020 was more than $275,000 at over half of all med schools. It was also more than $350,000 at 19 schools. As a result, the typical medical school student graduates with about $200,000 in loan debt. Scholarships are financial aid you don’t typically pay back. So, securing medical school scholarships may lessen the need to take out loans as well as reduce overall costs.
Here are 10 scholarship opportunities for medical students. If you meet the eligibility requirements, apply today!
Full ride scholarships for students in medicine tend to pay tuition, mandatory fees and a stipend for living expenses. They may be available from the government and military as well as some schools. Several of today’s reputable med schools offer full tuition scholarships to students who cannot afford the cost.
Many medical schools do look for incoming students based on their academic performance. So, whether it’s a full ride or full tuition, you may have to gain admission first. Perelman School of Medicine at University of Pennsylvania is one example. It provides about 30 full tuition medical school scholarships each year. The school factors in your character, leadership skills and interests.
Yes, there are scholarships for premed students. Eligible applicants may need to complete the FAFSA, have qualified SAT/ACT scores, above average GPA and references. Some of these scholarships may be available to new first year students pursuing a bachelor’s degree in a health focused major.
You may find pre med scholarships from accredited colleges with healthcare programs. For example, Latino and Hispanic students at the University of Texas at Austin might apply for the Alejandro Miguel Solis Scholarship.
Make sure to also check organizations that offer financial assistance to students in STEM fields. The Barnes W. Rose, Jr. and Eva Rose Nickol Scholarship Fund is for high achieving graduates of Albuquerque High School. Eligible applicants must plan to major in science, tech, engineering or math. You also need a 3.6 GPA or above.
There are several federal and state financial aid programs that could help pay for med school. The US military also offers scholarships for med school in exchange for a service commitment.
The National Health Service Corps (NHSC) is from the HRSA. They award medical school scholarships to students pursuing eligible primary care health professions. In return for a full year of scholarship support, you must commit at least two years of full time patient care in an under served area.
Indian Health Professions Scholarship.The IHS Scholarship Program is for qualified Native American and American Indian students. In return for financial support, you commit to two years of service in Indian health communities.
Scholars for a Healthy Oregon Initiative (SHOI). SHOI funding help pay full tuition and applicable fees for a limited number of eligible students entering specific clinical degree programs at OHSU. In return, you work in a medically under served urban or rural area of the state.
Joining the armed forces may help you graduate from medical school debt free. The Health Professions Scholarship (HPSP) is from the U.S. Army. Other branches such as the Navy and Air Force also offer this scholarship for medical school with different rules.
HPSP covers full tuition for any accredited medical program, plus a generous monthly stipend of more than $2,400. There’s also a sign on bonus of $20,000 and an allowance for books. Eligible applicants must be U.S. citizens and hold a bachelor’s degree from an accredited college. When you graduate, you must commit to active duty as a commissioned officer. Graduates are required to serve the U.S. Army for each year that they received the scholarship.
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