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Edited By: Medical School Scholarships
Key takeaways:
- According to Education Data Initiative the average medical school debt is about $235,000.
- 70% of medical school students use loans to help pay for medical school.
- Johns Hopkins University received a $1 billion financial aid gift, allowing most medical students to attend tuition-free.
If you’re ranking which degree is the most expensive, the answer is obvious: medical school. Not only do you need to pay for four years of undergraduate schooling, you also need to cover four years of medical school. And even though medical doctors are very well paid, there's no reason to graduate with a mountain of student loan debt. That’s why it still pays to look for medical school scholarships, which can reduce the amount you need to take out in student loans. Read below to learn how these scholarships work, how to find them and how to qualify.
Continue reading the article below the scholarship list.
25 Medical School Scholarships with Approaching Deadlines
What is a medical school scholarship?
A medical school scholarship is a scholarship given to a student who is either currently attending medical school or who is planning to attend medical school.
Medical school scholarships often have merit requirements, like meeting a minimum GPA or having a certain MCAT score. Some medical school scholarships may also have need-based requirements.
There are two types of medical schools: osteopathic (DO) and allopathic (MD). Some medical school scholarships are only given to students who are receiving an MD, not a DO. However, you can also find scholarships that are open to both, as well as some scholarships only for DO students.
For example, the Worcester District Medical Society Scholarship is given to a student between their second and fourth year of medical school. Both MD and DO students are eligible. However, only students living in Central Massachusetts are eligible to apply.
If you’re already enrolled in medical school, make sure you look for scholarships that work at your type of school.
Medical school scholarships can be given for just one year or for multiple years. Renewable scholarships often require that students maintain a certain GPA to remain eligible. If you don’t meet that minimum GPA, then you may lose the award.
Also, many renewable medical school scholarships are often limited to four years in total. If you need more time to graduate, you may find it harder to get funding outside of student loans.
How to find medical school scholarships
Finding medical school scholarships can be harder than looking for undergraduate or regular graduate scholarships, but they’re still available.
The school you're attending can be a good information source. Talk to the financial aid department to maximize your options. They may also have a list of eligible third-party awards on their website. But don't be afraid to look elsewhere as well.
Also, don’t forget to look for scholarships once you’re enrolled in school. Many scholarships are given to students who are already in medical school.
For example, the Herbert W. Nickens Medical Student Scholarship is given to a student in their third year of medical school. To be eligible, you must have a record of trying to reduce "inequities in medical education and health care."
This scholarship is worth $5,000, and multiple winners will be selected. U.S. citizens, permanent residents and DACA students are eligible for this award. Unlike other scholarships, you cannot apply yourself. Instead, you must be nominated by your school’s dean or their representative.
The official database at Scholarships.com is a treasure trove of potential awards. If you create an account and complete your profile, you’ll see a list of scholarships tailored to you. You can then focus on applying to awards that meet your specific criteria.
For example, the Alice W. Rooke Scholarship is offer by the Daughters of the American Revolotion and is a $5,000 scholarship awarded to anyone accepted to or attending medical school or has been accepted to medical school. This particular scholarship is also renewable (though not automatic), which means it could be worth up to $20K total.
If you belong to any special organizations related to your medical degree, they often offer scholarships for promising students. Also, make sure to look for general medical scholarships that may include other types of students.
For example, the TYLENOL® Future Care Scholarship is open to medical school students, as well as nursing and pharmacy students. While there are no specific academic requirements, your GPA and academic records will be taken into account. Ten $10,000 scholarships and 25 $2,500 scholarships will be awarded.
Also, some graduate school scholarships may also be open to medical school students. You may want to check with the scholarship organizer that you will be eligible if you’re attending medical school.
How to qualify for a medical school scholarship
There is no one-size-fits-all requirement for medical school scholarships. Each scholarship has its own requirements. Many have citizenship, academic and age requirements, but some may also have geographic, ethnic or income-based rules.
For example, the Texas Medical Association Diversity in Medicine Scholarship is given to an underrepresented student who is about to enroll in medical school; students already enrolled are not eligible. One scholarship will be given to a student from each Texas-based medical school. Applicants must be African-American/Black, Hispanic/Latino or Native American (which includes American Indian/Alaska Native or Native Hawaiian/Pacific Islander). This award is worth $10,000.
Medical school scholarships that have a need-based component may require that students complete the Free Application for Federal Student Aid (FAFSA). The FAFSA takes your personal and financial information into account to determine how much aid you qualify for. Schools may also use the FAFSA to decide what internal awards you’re eligible for.
Plus, filling out the FAFSA is the only way to receive federal student loans, which are a much better option than private student loans.
How to apply for a medical school scholarship
Applying for a medical school scholarship is fairly straightforward. First, read through the scholarship’s rules and requirements and confirm that you’re eligible.
Next, make sure you understand the application and any required supporting documents. Many scholarships require that you send a reference letter from a professor, mentor or other adult, while most also ask for an official transcript or confirmation that you’re enrolled in medical school.
You may also have to write a personal essay answering one or more questions about yourself. These essays are a huge component of the decision-making process. A stellar essay can help you win a scholarship, even if you don’t have the highest MCAT score or undergraduate GPA.