Financial Wellness for Medical Students: The Power of Scholarships


Medical school is expensive. The average cost of medical school in the United States is $35,000 per year and can be as high as $60,000 or even more. While many students are able to rely on their parents for financial support during their time in medical school (and prior), some have no other option but to take out student loans to cover their expenses. Say’s Dr Scott Kamelle, while this may sound like a good option on paper, it can become a burden later in life if you don’t pay off your student loans as soon as possible after graduation—particularly once you start working full-time and earn an income that can help cover those monthly payments while also paying other bills off!

The answer is scholarships.

If you are looking for a way to ease your financial burdens as a medical student, scholarships are the answer.

Scholarships can be found for a variety of reasons and they can help you focus on your studies.

Scholarships are a great way for medical students to ease their financial burdens and focus on their studies.

Scholarships are a great way for medical students to ease their financial burdens and focus on their studies. Scholarships can help you pay for school, tuition and books–all while allowing you to pursue your dream of becoming a doctor.

Scholarship programs vary greatly in terms of size and scope, but they typically offer some combination of monetary awards, tuition discounts or waivers and/or other benefits like reduced housing costs or travel stipends. Some scholarships even include loan repayment assistance after graduation!

Here are some tips on how to find and apply for scholarships as a medical student.

You should start looking for scholarships as early as possible. The earlier you apply, the more time you’ll have to research and refine your applications. You can also use this time to develop relationships with faculty members who might be able to recommend you for awards if they see that you are serious about pursuing medicine.

You should also consider applying for non-academic scholarships like those offered by professional organizations or community groups. These types of awards often require less work than academic scholarships but still provide valuable financial support for medical school expenses such as books, tuition and lab fees.

If there aren’t any specific programs at your school geared toward helping students find financial aid options (like ours), check out websites like FastWeb or College Board’s Scholarship Search Service . These sites offer lists of available scholarships based on many different criteria including ethnicity, gender identity/expression and religion so it’s important not only take advantage of them but also keep an eye out on our blog posts where we highlight some key resources every month!

Start early.

Start early. Scholarship opportunities are out there, but they fill up fast. The first thing you can do is start looking for scholarships as soon as possible–and don’t forget to apply during the summer before your first year of medical school, as well as again between your first and second years!

Look beyond academic scholarships.

  • Look beyond academic scholarships.
  • Apply for scholarships from your school, or other organizations.
  • Be sure to look for scholarships that are relevant to your field of study and career goals, such as research opportunities or specific areas of interest within the medical field (e.g., mental health).

Use online resources to find and apply for scholarships.

There are many online resources that can help you find and apply for scholarships. Here are a few:

  • Scholarship websites such as Fastweb and allow students to search for scholarships by state, field of study, or any other category they choose. The best part? They’re free!
  • Scholarship databases like FinAid and the National Association of Student Financial Aid Administrators’ (NASFAA) database allow students to search by school name, state or region–and even what type of financial aid is needed (need-based versus merit-based). Again: no cost here!
  • Search engines like Google Scholar let users search across billions of scholarly articles from all around the world–and it’s free as well! If you know exactly what topic interests you most but aren’t sure how best to find information about it online yet…this will be your go-to tool!

Medical students can get free money for school in the form of scholarships!

Scholarships are available for all kinds of students, including medical students. These awards can help you focus on your studies and ensure that you have the resources necessary to complete your degree. In addition to tuition, books and other expenses, scholarships may also come with an award that can be used as a stipend for living expenses.

Scholarship opportunities vary widely depending on the type of school at which they’re offered; some schools offer internal scholarships while others do not have any funds specifically designated for scholarships at all (though they may provide other types of financial aid).


If you’re a medical student and want to ease your financial burdens, scholarships are a great way to do it. You don’t have to be an academic superstar or have perfect grades in order to get one–you just need the right skills and experience. If you’re interested in learning more about how scholarship money can help pay for your education costs, check out our guide on finding scholarships as well as tips on applying for them!