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.
The CVS Health Minority Scholarship for Pharmacy Students awards $35,000 in scholarships. Five outstanding underrepresented minority students enrolled in a PharmD each receive a $7,000 scholarship.
Walgreens Diversity Scholarship is a $3,000 merit award which may be given to one or more students (scholarship committee will decide based on the submissions) at partner colleges.
The American Nurses Foundation and the ASHP Foundation have joined in partnership to offer a competitive grant program to support innovative projects, co-led by nursing and pharmacy,
The Basu Plastic Surgery Advancing Care Scholarship for Adult Learners was created by Dr. C. Bob Basu to support, empower, and encourage Texans over age 30 who are pursuing a graduate degree as a licensed medical practitioner, physician, or nurse. Adult students who reside in Texas and are interested in a career in a qualifying medical field are welcome to apply for the $1,500 scholarship.
The scholarship award is to be used toward tuition fees and educational expenses, including but not limited to: textbooks, supplies (paper, pens, notebooks, etc.), required technology, on-campus dining, housing, and transportation costs.
The scholarship award will be disbursed directly to the student in the form of a cash prize. The selected student will be required to furnish information necessary to issue a 1099 tax form, including social security number, as part of the process for dispersing scholarship monies. Student will be responsible for any resulting tax obligations.
The American Society for Clinical Laboratory Science – Minnesota (ASCLS- MN) announces
the availability of scholarships for students enrolled in Minnesota based Medical
Laboratory Science or Medical Laboratory Technician programs. The minimum amount
for a scholarship is $500.
Reading Hospital announced it will provide up to 10 full tuition scholarships for the incoming class of Surgical Technology students at Reading Hospital School of Health Sciences (RHSHS). If selected for the scholarship, students will be asked to commit to providing three years of Surgical Technology employment to Reading Hospital. Accepted students will receive a scholarship of approximately $17,800 to cover the tuition of the program. The student will be responsible to cover the program fees estimated at $2,500. In addition, the current class of four students were also provided a prorated two-year scholarship.
The Nursing Scholarship Program is for students in a practical nurse program (LPN) or a registered nurse (RN) program and who are accepted or enrolled a school of nursing in the State of Virginia. Scholarship recipients must agree to engage in full-time nursing in Virginia for one month for every $100 received. Presently, the Virginia Department of Health, Office of Health Equity offers several scholarship opportunities to help pay for nursing education.
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