Medical school can get really expensive to pay for. Luckily, there are various types of aid to help you pay for it. A big one is scholarships. So, how and where can you apply for medical school scholarships?
Where Do Medical School Scholarships Come From?
Funding for medical school scholarships can come from all sorts of places, from the federal government to local nonprofits. But, there are certain sources that you’ll see more than others.
Federal Scholarships
Federal scholarships are funded by the federal government and are conditional. Usually, you have to work as a healthcare professional in a certain community. For example, you can choose to do so in the military or in an underserved community. In general, you have to commit to one year of work for each year you use the scholarship. For military service, you have to commit to providing medical care for at least 3 years. For the community, you usually only have to commit to about 2 years.
Institutional Scholarships
Institutional scholarships are scholarships that are funded by your school. Most medical schools offer scholarships to help students cover their expenses. Among the ones they offer, there can be full-tuition or full-ride scholarships. It’s important to know that full-ride and full-tuition do not mean the same thing. A full-ride scholarship covers the cost of attendance. Full-tuition scholarships only cover the tuition costs of the school.
Local Scholarships
Local scholarships are those funded by local businesses and organizations. Although a lot of students tend to overlook these, they are a great source of funding. Despite typically being smaller scholarships, they tend to have less competition. Less competition can maximize your chances of winning. And, a couple of these scholarships combined can help you pay for school.
Merit-Based vs Need-Based Scholarships
Additionally, you also want to know the difference between merit-based and need-based scholarships. A merit-based scholarship is based on your academic or extracurricular achievements. A need-based scholarship is dependent on your level of financial need. Most schools offer need-based scholarships, but not all will offer merit-based scholarships. Know which ones your school offers.
How to Get Medical School Scholarships
There are usually scholarships available year-round for most degree programs. So, you can apply for them before and during school. Sometimes, you can get them even after you graduate or during residency to pay off debt.
Although there are a lot of scholarships year-round, you may not qualify for all of them. Scholarships come with requirements you have to meet to apply. Most scholarship programs will list the eligibility requirements on their website and will ask you to confirm that you meet them before you can apply.
Before you apply, though, be sure to have all the information you’ll need. The exact things that you’ll need will depend on the type of scholarship. You can read the details of the scholarship to find that out.
Generally, though, you’ll need at least some contact information. This includes things like your full name, email, phone number, and your address. Never include sensitive information like a social security number or your credit card. Legitimate scholarships will never ask you for that information. If they do, it’s probably a scam. Good for you, there are lots of websites that’ll find you legitimate scholarships. Here are some of our favorites:
Fastweb
Fastweb will ask you to create a profile that it’ll use to find the best scholarships for you. You can even be matched with scholarships just for being a medical student. Plus, they’ll send you email reminders so you can stay on top of your scholarship applications.
Chegg
This one may be a surprise as Chegg is mainly known for homework help. But, they offer scholarships, too! Not only that, but they also offer tutors who can help you with your scholarship essays. Chegg is a win-win!
Niche
This is another website that uses a matching process, so you’ll be asked to create a profile, too. Besides all the scholarships they offer, they also offer regular no-essay scholarships. These repeat throughout the year so you’ll have plenty of chances to enter.
These are just some of the different websites you can use, but there are so many others.
What Should I Do If I Can’t Get Scholarships?
If you can’t find scholarships to help fund your medical degree, there are other places you can get money from. First off, fill out your FAFSA. This will sign you up to potentially receive grants, work-study, and federal loans. You’ll usually be offered a financial aid package where you can accept or deny each award. After that, you can start looking for private student loans, which Sparrow can help with. Just fill out the Sparrow application to be matched with lenders.
Final Thoughts from the Nest
Pursuing a career in medicine can be extremely fulfilling. Funding it, though, can be a little stressful. That’s why scholarships are so great. It’s money you can use without having to pay it back. If you can’t seem to get any at first, don’t worry. It’s like that with everyone. Just keep on applying. We know that you’ll be able to find some.