Medical school can be expensive. Many can’t imagine how they’ll afford to achieve their dreams of becoming doctors. Sometimes, scholarships are the key.
Public medical school’s median tuition during the academic year 2018-2019 was $38,119. That’s more than many Americans make in a year.
And according to the Association of American Medical Colleges, that’s actually the lower end of the cost spectrum. When it comes to private med schools during that same academic year, the median health insurance, fees and tuition costs were over $60,000.
This leaves many aspiring physicians wondering how they’ll ever afford to achieve their dreams.
How Do I Pay for Medical School?
Are Medical School Scholarships the Key?
Most med school attendees rely on student loans to fund their educations. There are also scholarships for those who qualify.
According to the University of California, Davis School of Medicine’s Associate Dean Mark Henderson, MD:
“There are more opportunities out there to get scholarships than people realize.
Of course, like many things in life, it takes sort of a rattling of cages and being scrappy about it.”
But finding these med school scholarships isn’t always easy. Read more for tips for finding scholarships for medical school.
What Are Institutional Scholarships?
Institutional scholarships are awarded by the medical schools themselves. Many come as four-year scholarships or financial aid awards during acceptance into the programs. They are based on application information and data.
Scholarships awarded directly from institutions are generally based on one or more of the following factors:
- Financial Need
- Geographical Origin
- Career Interests
- Medical Specializations
What Are Service Scholarships?
A service scholarship allows a medical student to attend school tuition-free in exchange for a commitment to provide service to a specific population when funded by the US government.
One prime example is the National Health Service Corps Program. Recipients are required to provide two years of primary physician care in exchange for every year they receive these service-based scholarships.