Attending medical school can be an extremely rewarding path, it can also be an expensive one. Luckily, there are some great medical school scholarships that can help ease the financial burden of attending medical school. Students thinking about attending medical school, or who are currently enrolled, may want to consider looking into scholarships for medical school.
There are plenty of scholarships for medical students and more general scholarships that they can apply for to help pay for college. Keep reading for a roundup of the best medical student scholarships, how to apply for them, and how much they’re worth.
Brown Medical and Educational Society Healthcare Scholarship
Dollar amount: Unknown
Application process: To apply for the Brown Medical and Educational Society Healthcare 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, students must be an undergraduate or graduate student pursuing a degree at a US based four-year university while studying a healthcare degree such as nursing, dentistry, medicine, and allied health. Recipients must also identify as a member of select ethnic groups and must be U.S. citizens.
Chinese American Physicians Society Scholarships
Dollar amount: $3,000 to $5,000
Application process: The application for the 2021-2022 school year is set to open in December 2021. 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 US based medical school and applicants are judged on their financial needs, academic achievements, essays, and community service records.
Dolores Zohrab Liebmann Fund
Dollar amount: Unknown
Applicant process: The Dolores Zohrab Liebmann Fund requires students 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 select schools participate in this program.
Eligibility: Students must be US citizens and attend a US based accredited and designated higher education institution as a graduate student. National descent is not taken into consideration and students are not limited to pursuing Armenian studies.
The Hispanic Health Professional Student Scholarship
Dollar amount: NHHF has awarded $1,555,000 to 306 awardees as of January 2021.
Application process: 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 US citizenship DACA status, or residency
• Unofficial copy of their school transcripts
Eligibility: To be eligible for this scholarship opportunity, students must have a 3.0 GPA and be currently enrolled full time in a US graduate program studying one of the following subjects:
• Medicine (allopathic or osteopathic)
• Nursing (including BSN)
• Public Health or Public Policy
• 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 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.
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 US citizen or a US 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 US or in a US territory.
MPOWER Global Citizenship Scholarship
Dollar amount: $1,000 to $5,000
Application process: To apply for this scholarship program, applicants must complete the application form provided by MPOWER.
Eligibility: Recipients of the MPOWER Global Citizenship Scholarship must be international students that are legally allowed to work and attend school in either the US or Canada. They must also be enrolled in a US 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
• Two essays
• College and graduate school transcripts
• Standardized test scores
• Optional exhibits
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 US.
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 US as non-US 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
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 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 can save money and help them pay down their debt faster. Refinancing student loans involves consolidating student loans through a private lender into a new loan that ideally comes with a better rate and term.
The student loan refinancing process varies by lender, but generally, the borrower ends up with a new loan, which can be easier to manage than multiple loans.
While some lenders only refinance private student loans, SoFi refinances both private and federal student loans. If the applicant can secure a better interest rate, they may end up paying less over the life of their 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 worth noting that refinancing federal student loans into private ones causes the borrower to lose out on federal protections. Private lenders may not offer forbearance, deferment, and hardship programs.
Recommended: Private vs. Federal Student Loans
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 browse around for different scholarships that fit your unique educational and personal profile.
Photo credit: iStock/JohnnyGreig
SoFi Student Loan Refinance
If you are looking to refinance federal student loans, please be aware that the White House has announced up to $20,000 of student loan forgiveness for Pell Grant recipients and $10,000 for qualifying borrowers whose student loans are federally held. Additionally, the federal student loan payment pause and interest holiday has been extended beyond December 31, 2022. Please carefully consider these changes before refinancing federally held loans with SoFi, since the amount or portion of your federal student debt that you refinance will no longer qualify for the federal loan payment suspension, interest waiver, or any other current or future benefits applicable to federal loans. If you qualify for federal student loan forgiveness and still wish to refinance, leave unrefinanced the amount you expect to be forgiven to receive your federal benefit.
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Notice: SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income-Driven Repayment plans, including Income-Contingent Repayment or PAYE. SoFi always recommends that you consult a qualified financial advisor to discuss what is best for your unique situation.
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