According to the U.S. Bureau of Labor Statistics, doctors are among the highest paid professionals, earning over $200,000 per year on average. However, according to the National Center for Educational Statistics, the average medical school student will also accumulate roughly $250,000 in student loan debt. So while doctors can expect to earn a high salary, many prospective medical students wonder about how they can minimize their student loan debt. Medical school scholarships are one of the most effective ways to pay for medical school.

Jump ahead to:

• Top Medical School Scholarships
• Need-Based Financial Aid for Medical School
• Summary of Medical School Scholarships
• Expired Scholarships

Keep on reading to learn more about the top medical school scholarships available to students!

Top Medical School Scholarships

Alliant Health Solutions/NMF Alzheimer’s or Related Dementia Care Scholarship

• Eligibility: 3rd or 4th year medical students from minority backgrounds who attend medical school in Georgia, Mississippi, North Carolina, Tennessee, or Texas 
• Amount: $7,000
• Deadline: August 31st

Black Medical Students Scholarship

• Eligibility: Open to current or aspiring Black undergraduate or graduate students pursuing a career in any medical specialty 
• Amount: $1,000
• Deadline: March 11, 2021

Herbert W. Nickens Medical Student Scholarships

• Eligibility: Students entering their third year of medical school with demonstrated leadership to “eliminate inequities in medical education and health care”
• Amount: $5,000
• Deadline: April 2, 2021

NHSC Scholarship Program

• Eligibility: Full time students in a Doctor of Medicine (M.D.) or Doctor of Osteopathic Medicine (D.O.) degree program who agree to serve in underserved communities upon medical school graduation
• Amount: Varies
• Deadline: Varies

NMF Emergency Scholarship Fund

• Eligibility: 3rd and 4th year medical students from underrepresented backgrounds who are dealing with a financial crisis
• Amount: Varies
• Deadline: Rolling

Probo Medical Scholarship

• Eligibility: High school, college, and graduate students with a 3.0 or above GPA who submit an essay about medical technology and the future
• Amount: $500
• Deadline: January 15 and June 15

United Health Foundation/NMF Diverse Medical Scholars Program

• Eligibility: 2nd-4th year medical students who are members of an underrepresented minority group
• Amount: $7,000
• Deadline: September 14

Need-Based Financial Aid for Medical School

Medical school students can also apply for need based financial aid to pay for their M.D. There are two main applications that students should know about when thinking about need-based financial aid:

• FAFSA or Free Application for Federal Student Aid is how financial aid from the federal government is awarded, which includes federal student loans.
• CSS Profile is a financial aid application offered by the College Board. The CSS Profile is how some medical schools will award institutional financial aid, which can include grants, scholarships, and student loans. Yale School of Medicine is one medical school that uses the CSS Profile for both scholarships and Yale student loans.

Students who need even more financial aid can consider private student loans. Remember, these private loans should be a last resort as they may have higher interest rates and less flexible repayment options than loans from the federal government.

Summary of Medical School Scholarships

1. Alliant Health Solutions/NMF Alzheimer’s or Related Dementia Care Scholarship
2. Black Medical Students Scholarship
3. Herbert W. Nickens Medical Student Scholarships
4. NHSC Scholarship Program
5. NMF Emergency Scholarship Fund
6. Probo Medical Scholarship
7. United Health Foundation/NMF Diverse Medical Scholars Program

Expired Scholarships

Hispanic Health Professional Student Scholarship

• Eligibility: Scholarships are open to full-time medical, nursing, dental, public health, and pharmacy and health policy students with outstanding academic records, leadership, and who are committed to serving Hispanics
• Amount: Varies
• Deadline: September 30