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.
Why is Medical School Expensive?
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.
10 Medical School Scholarships You Should Apply for in 2021
Here are 10 scholarship opportunities for medical students. If you meet the eligibility requirements, apply today!
Pfizer Global Medical Grants Program
Tylenol Future Care Scholarship
Health Professions Scholarship Program
Herbert W. Nickens Medical Student Scholarship
Dr. James L. Hutchinson and Evelyn Ribbs Hutchinson Medical School Scholarship
Anarcha, Betsy and Lucy Memorial Scholarship Award
Buckfire & Buckfire Medical School Diversity Scholarship
EMPOWER Scholarships
Linda Craig Memorial Scholarship Program
Black Medical Students Scholarship
Could You Get a Full Ride Scholarship for Med School?
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.
Are There Scholarships for Pre Med Students?
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.
How Do You Pay for Medical School with Federal & State Financial Aid?
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.
Does the Military Help Pay for Medical School?
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.
To apply, students must complete the New Mexico Medical Student Loan-for-Service application and complete a Free Application for Federal Student Aid (FAFSA). The FAFSA is available online at www.fafsa.ed.gov, at high school guidance offices, and at college financial aid offices.
In addition to a complete application, students must also submit the following materials: school certification; a written essay; two letters of recommendations; a letter of acceptance; and official academic transcripts.
This award is for New Mexico residents who are enrolled at a public college or university in New Mexico. The student must be accepted into a into a Nursing program leading to a degree or certification and must declare intent to practice as a health professional in a designated shortage area in New Mexico.
The purpose of the Medical Loan-For-Service is to increase the number of physicians in the state which have experienced shortages of health professionals by making educational loans to students entering medical school.
As a condition of each loan, the student shall declare his/her intent to practice as a health professional in a designated shortage area within the state of New Mexico.
For every year of service provided in a designated shortage area within New Mexico, a portion of the loan will be forgiven. If the entire service agreement is fulfilled, 100% of the loan is eligible for forgiveness. Penalties will be assessed if the service agreement is not satisfied.
This award is available to Washington undergraduate and graduate students who are currently attending or planning to attend a postsecondary institution in Washington. The student must have close cultural and social ties to an American Indian community in Washington.
This award is available for California residents who are college junior or seniors attending a college/university in the state of California. Students must be majoring in nursing, and have a grade point average of 2.0 or higher.
This award is available for California residents who are college freshmen or sophomores attending a college/university in the state of California. Students must have a grade point average of 2.0 or higher and be enrolled in an allied healthcare program. Click here to learn more and apply today!
Current college juniors or seniors majoring in nursing full time at Amarillo College or Texas A&M University are eligible for this award. Students must maintain a grade point average of 2.5 or higher in college and be residents of one of the 26 northernmost counties of the Texas panhandle.
This award is available for U.S. nursing students who are residents of Kansas and attend a Kansas college or university. Students must have a cumulative grade point average of 3.0 or higher. The following will receive priority consideration for this award: RNs pursuing BSNs; graduate and postgraduate nursing study; formal nursing programs – advanced registered nurse practitioner, etc.; and students enrolled in undergraduate nursing programs.
This award is available for U.S. registered nurses who are pursuing a career in nursing. Students must be residents of Kansas and have a cumulative grade point average of 3.0 or higher. Preference will be given to students who are pursuing a bachelor’s of science in nursing at Kansas Wesleyan University.
This award is available for U.S. nursing students who are residents of Kansas and attend a college or university in Kansas. Students must have a cumulative grade point average of 3.0 or higher. The scholarship committee shall consider the following priorities in making scholarship recommendations to the board of trustees: registered nurses pursuing a bachelor’s of science in nursing; graduate and postgraduate nursing study; formal nursing programs (advanced registered nurse practitioner, etc.); and students enrolled in undergraduate nursing programs.
This award is available for U.S. undergraduate students who are residents of Kansas and attend or plan to attend Wesley School of Nursing in Kansas. Students must have a cumulative grade point average of 3.0 or higher and have a parent, grandparent, or other relative who graduated from Wesleyan School of Nursing.
