Attending medical school can be an extremely rewarding path, but it can also be an expensive one. Luckily, there are some great medical school scholarships that can help ease the financial burden. Students thinking about attending medical school, or those who are currently enrolled, may want to look into scholarships for medical school.
There are plenty of scholarships for medical students as well as general scholarships that could help you cover the cost of college. Here’s a roundup of the best medical student scholarships, how much they’re worth, and how to apply for them.
Brown Medical and Educational Foundation Scholarship
Dollar amount: Approximately $1,000
Application process: To apply for this scholarship, students must complete an application, submit an official college or university transcript in a sealed envelope, and submit three letters of recommendation.
Eligibility: To qualify for this scholarship, which could help with paying for college, students must be an undergraduate or graduate student pursuing a degree at a U.S. based four-year university while studying a healthcare degree such as nursing, dentistry, medicine, and allied health. They must have a GPA of 2.5 or higher. Recipients must also identify as a member of select ethnic groups and must be U.S. citizens.
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Chinese American Physicians Society Scholarships
Dollar amount: $3,000 to $5,000
Application process: The application for the 2023-2024 school year is set to open in December 2023. Applicants can expect to submit essays as a part of the application.
Eligibility: To receive a Chinese American Physicians Society Scholarship, applicants must be a student at a U.S.-based medical school. Applicants are judged on their financial needs, academic achievements, essays, and community service records. Special credit is given to applicants who are planning to serve Chinese communities after they graduate.
Dolores Zohrab Liebmann Fund
Dollar amount: Covers the cost of tuition, plus an additional stipend for living expenses
Applicant process: The Dolores Zohrab Liebmann Fund requires students to submit their application through the dean of the university at the school they are attending for graduate studies. Students can connect with their school’s fellowship or financial aid office to learn more about what the application process looks like for students at their school. Only certain schools participate in this program.
Eligibility: Students must be U.S. citizens and attend a U.S.-based accredited and designated higher education institution as a graduate student in the fields of humanities, social sciences or natural sciences. They must have an outstanding record as an undergraduate and have financial need. National descent is not taken into consideration.
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The Hispanic Health Professional Student Scholarship
Dollar amount: For the 2023-2024 school year, the National Hispanic Health Foundation will give awards of $5,000 annually for up to four years, plus individual scholarship awards of $2,00 each. Overall, the NHHF has awarded $1,954,000 to 346 awardees as of January 2023.
Application process: By September 15, 2023, applicants must submit the following supporting documents as a part of their application for the The Hispanic Health Professional Student Scholarship:
• Personal statement or essay that is double-spaced and a maximum of two pages outlining their career goals
• Curriculum vitae that shares up to date employment experience, education history, extracurricular activities, and awards
• One letter of recommendation
• Proof of their U.S. citizenship DACA status, or residency
• Unofficial copy of their school transcripts
• Proof of enrollment
Eligibility: To be eligible for this scholarship opportunity, students must have a 3.0 GPA and be currently enrolled full time in a U.S. graduate program studying one of the following subjects:
• Medicine (allopathic or osteopathic)
• Dentistry
• Pharmacy
• Nursing (including BSN)
• Public Health
• Physician Associate
Joseph Collins Scholarship
Dollar amount: $10,000
Application process: Applicants for the Joseph Collins Scholarship must demonstrate an interest in the arts and letters or another type of cultural pursuit that falls outside of the field of medicine and needs to show an intent to specialize in psychiatry, neurourology, or become a general practitioner.
Eligibility: The moral character of the applicant and their scholastic record will be taken into account. Students who are attending medical schools east of the Mississippi river and are ranked in the top 50% of their class are eligible to apply.
The National Health Service Corps Scholarship Program
Dollar amount: Full year of scholarship support (tuition and fees plus monthly stipends) for up to four years).
Application process: To apply for the National Health Service Corps Scholarship Program, applicants must pass an eligibility screening, submit general information about themselves, their degree, and their backgrounds, as well as providing two letters of recommendation, and writing an essay.
In return, recipients of this scholarship will work in primary care in Health Professional Shortage Areas (HPSAs). The time commitment may vary based on how much aid the student received.
Eligibility: To be eligible for this scholarship, applicants have to be either a U.S. citizen or a U.S. national and be able to submit proof of their status. Applicants must also be enrolled as full-time students and attend an accredited school or academic program in the U.S. or in a U.S. territory. They must be studying to be a physician, dentist, nurse practitioner, nurse midwife, or physician assistant.
MPOWER Global Citizenship Scholarship
Dollar amount: One $10,000 award and two $2,000 awards
Application process: To apply for this scholarship program, applicants must complete the application form provided by MPOWER. There is one essay question.
Eligibility: Recipients of the MPOWER Global Citizenship Scholarship must be international students that are legally allowed to work and attend school in either the U.S. or Canada. They must also be enrolled in a U.S. or Canadian school that MPOWER supports.
Paul & Daisy Soros Fellowships for New Americans
Dollar amount: Up to $90,000 in financial support over two years.
Application process: In order to apply for the Paul & Daisy Soros Fellowships for New Americans, students must submit the following information and materials in an online application.
• Personal and contact information
• Higher-education history
• Information about the graduate program they are seeking support for
• Three to five recommendations
• Resume
• Two essays
• College and graduate school transcripts
• Standardized test scores
• Optional exhibits (such as artwork, examples of written work, and so on)
Eligibility: Applicants must be aged 30 or younger by the time of the application deadline and need to plan on either starting or continuing a full-time graduate degree program in the U.S.
Students may apply before they begin graduate school or while they are enrolled. Applicants must also meet the scholarship’s definition of “new American,” which is an individual whose birth parents were born outside of the U.S. as non-U.S. citizens.
Pisacano Scholars Leadership Program
Dollar amount: $7,000 per year up to four years.
Application process: Applications can be mailed or emailed and must included the following information:
• Official copy of undergraduate and graduate school transcript if applicable
• Official copy of medical school transcript
• Copy of MCAT scores
• Copy of USMLE score or COMLEX score
• Copy of current CV
• Essay
Eligibility: In order to qualify for the Pisacano Scholars Leadership Program, applicants must be third-year medical students who have demonstrated a strong commitment to the specialty of family medicine.
Leadership skills, academic achievements, communication skills, identifiable character and integrity, and community service involvement will all be taken into consideration.
How Student Loan Refinancing Can Help
Those students who already have medical school debt and may no longer be eligible for medical school scholarships may want to consider refinancing their existing student loans. Under the right terms, refinancing student loans could help lower their monthly payments. Refinancing student loans involves consolidating student loans through a private lender into a new loan that ideally comes with a lower interest rate and better term.
If the applicant can secure a better interest rate, they may end up paying less over the life of their loan. However, if they lengthen the term of the loan to reduce their monthly payments, they may end up paying more in interest over the life of the loan.
When a borrower applies to refinance their loan or loans, the lender will generally take their credit score, credit history, and other key financial information into consideration to determine their rates and terms.
It’s important to know that refinancing federal student loans into private ones causes the borrower to lose out on federal protections such as forbearance, deferment, and income-driven repayment plans.
Recommended: Private vs. Federal Student Loans
The Takeaway
Scholarships can be an effective way to help medical students pay for med school.
Application processes and eligibility requirements will vary from scholarship to scholarship so it may be helpful to explore and research different scholarships that fit your unique educational and personal profile.
If you’re interested in refinancing your student loans, SoFi offers loans with flexible terms and no fees. A student loan refinance calculator can help you determine if refinancing makes good financial sense for you.
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SoFi Student Loan Refinance
If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.
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