As a medical student, you’ll spend years in college and medical school. While there are plenty of ways to pay for your education, many students graduate with significant debts that may take years to pay off. Say’s Dr Michael Vivian, if you’re looking for scholarships or financial aid to help reduce those costs, here’s what you need to know about finding and applying for a scholarship as a future physician:
The path to a medical degree is long and expensive.
The path to a medical degree is long and expensive. Medical school can cost up to $200,000 per year, and it takes four years of study to earn your M.D., D.O., or other degree in medicine.
Some students who go through this process don’t have access to scholarships or grants that would help them pay for their education–and even those who do may not be able to find enough funding sources on their own. That’s why there are private institutions like the AAMC Foundation (the American Association of Medical Colleges) that offer grants specifically designed for medical students who want financial assistance but don’t qualify for Federal student loans or other government assistance programs such as Pell Grants or Stafford Loans
Most students graduate with significant debts.
Most students graduate with significant debts. The average medical school debt is $180,000, while the average debt for students graduating with a medical degree is $190,000. This is significantly higher than other graduate degrees such as law and business administration which have an average of $142,000 and $131,000 respectively.
Scholarships and financial aid can ease the burden of these loans.
Scholarships and financial aid can ease the burden of these loans. If you’re considering attending medical school, it’s important to know that scholarships are available for students who qualify. Scholarships are a great way to get financial aid because they don’t need to be paid back; instead, they’re awarded based on merit or need (or both).
If you’re looking for scholarships and want help finding them, check out our list at ScholarshipGuidance.com where we’ve compiled all kinds of resources: from general scholarship search engines through lists like “Top 100 Most Innovative Schools” by U.S News & World Report magazine – all designed with one goal in mind: helping students pay less while pursuing higher education!
Here are some tips for finding medical school scholarships.
- Look for scholarships that match your interests.
- Look for scholarships that match your skills and talents.
- Look for scholarships that match your ethnicity, particularly if you are a minority student or an underrepresented group in medicine (such as women or African Americans).
Medical school scholarships are not impossible to find, but it takes work and knowledge to get one.
It’s no secret that medical school is expensive. The average cost of attending a private medical school is $70,000 per year and public schools are usually much less (the average tuition in 2017 was $31,000).
If you’re like most people, though, you don’t have 70 grand sitting around to pay for your education–and that’s okay! You can still get a great education without going into debt. Medical school scholarships are out there if you know where to look and how to apply for them.
In this article we’ll talk about what types of scholarships exist (and how they differ), how they work and why they matter so much when it comes down to getting into medical school with minimal debt.
The path to becoming a doctor is long and expensive. But with the right knowledge, you can find medical school scholarships and financial aid to help ease the burden of these loans.