Financing

The high cost of attending medical, dental, or veterinary school can be intimidating; with graduate debt averaging over $200,000. However, if you educate yourself about financing options and available resources, you can prepare for the financial commitment that will be required. In addition to the substantial costs of tuition and fees for medical schools, there are several costs associated with the application process itself. These include:

  • MCAT/DAT/GRE preparatory courses and study guides
  • Registration for standardized tests
  • Primary and secondary application fees, and travel and lodging costs for interviews (see cost of applying to medical school.)

Tuition costs and fees vary greatly depending primarily on whether the school is public or private, and whether you are an in-state or out-of-state resident. Students generally supplement personal or family resources with federally subsidized or private loans to cover costs. Financial aid offices generally provide all the information you will need on available sources of loans. Information such as financing medical school is very helpful.

ADDITIONAL SOURCES OF AID: SERVICE REPAYMENT PROGRAMS

Some programs fund your education upfront, and others offer loan forgiveness based on your service. Application to the following programs should be considered carefully as enrollment involves significant commitment and can control choice of geographic location or practice area.

  • Armed Forces Health Professions Scholarship Program: The Army, Navy, or Air Force will cover tuition, living expenses, and other educational costs associated with medical and dental school; the student repays this scholarship with service during school and after graduation. Apply no later than the spring before enrollment. Search for “HPSP” on the Army, Navy, or Air Force website.
  • National Health Service Corps (HRSA): Program designed for those committed to providing primary health care in underserved communities (medical and dental). They cover most school-based costs (tuition, fees, living stipend, books). Upon completion of training, the graduate practices in an underserved community for 2-4 years.
  • Disadvantaged Health Professions Faculty Loan Repayment Program (HRSA): Encourages physicians from disadvantaged backgrounds to serve on health professions school faculty.
  • Indian Health Services Loan Repayment Program (IHS): Provides loan repayment in exchange for commitment to Indian health program sites.
  • NIH Loan Repayment Programs: The National Institutes of Health NIH Loan Repayment Programs are a set of programs designed to recruit and retain highly qualified health professionals into biomedical research careers. The LRPs repay up to $50,000 annually of a researcher’s qualified educational debt in return for a commitment to engage in NIH mission-relevant research.
  • Loan Repayment/Forgiveness & Scholarship Programs: Many loan forgiveness programs are offered at the state level, and are available depending on available funds.

Financial Resources and Information Links

A Better America Scholarship Program
Access Group Financial Advice
Aetna Foundation Scholars Programs
African American Scholarships & Internship Opportunities
Aga Khan Foundation International Scholarship Programme
Air Force Health Professions Scholarship Program
American Association of Colleges of Nursing Financial Aid Information; Student Scholarship Programs
American Dental Education Association (ADEA) Scholarships, Awards and Fellowships for Students
American Heart Association Council-Sponsored Student Scholarships
American Indian College Fund Full Circle Scholarships
American Indian Education Foundation (AIEF) Graduate Scholarship
American Indian Graduate Center (AIGC) Scholarships/Fellowships
American Indian Higher Education Consortium Scholarship and Internship Opportunities
American Indian Science and Engineering Society (AISES) Scholarships
American Medical Association (AMA) Financial Aid Resources
American Psychological Association (APA) Scholarships, Grants, and Awards
American Society for Biochemistry and Molecular Biology (ASBMB) Distinguished Undergraduate Scholarship
American Student Assistance
AmeriCorps; Segal AmeriCorps Education Award
Association of Native American Medical Students Premedical Student Scholarships; Medical Student Scholarships
Association of Schools of Allied Health Professions Scholarship of Excellence Award
BankingSense Scholarships and Grants Guide
Barry Goldwater Scholarship and Excellence in Education Program
Campus RN Scholarship Program
Canadian Student Loan Program
Chicago Injury Center Annual Scholarship Fund for Disabled Veterans
Chinese American Medical Society Scholarship Program
Chinese American Physicians’ Society (CAPS) Scholarship Program for U.S. Medical Students
Clark University Global Scholars Program
Clark University LEEP Scholarships
Clark University Merit Scholarships
Clark University Steinbrecher Fellowship Program
Clark University Transfer Student Scholarships
College Scholarships.org
Community Foundation of Western Massachusetts Scholarships
Congressional Hispanic Caucus Institute (CHCI) Scholarship Program
Connecticut Higher Education Supplemental Loan Authority (CHESLA) Loan
Cost of Applying to Medical School
CSFAA Financial Aid Modules for Osteopathic Medical School Students
Cut Down on Medical School Application Fees
Daughters of the American Revolution (DAR) Scholarships (scroll down to “Medical Scholarships”)
David Geffen Medical Scholarship
Debt Management
Doctor on Demand Scholarship
Doctors for Maine’s Future Scholarship
EStudentLoan
EdFed Education Loans
Ed-Invest Foreign Medical School Student Loan Program
Emergency Nurses Association Foundation Scholarship Opportunities
Equity for “DREAMers” in Medical School Admissions
Ethnic Background Scholarships
Everything You Need to Know About Graduate Financial Aid
FastWeb Scholarship Search; Graduate School Scholarship Search
Federal Employee Education and Assistance Fund Scholarships
Federal Financial Student Aid Programs for Veterans
Federal Nursing Student Loans
Federal Student Aid Information
Federal vs. Private Education Loans
FedMoney.org
F. Edward Hébert Armed Forces Health Professions Scholarship Program
Field of Study Scholarships (select “Health Professions and Clinical Sciences”)
Financial Aid Application Process
Financial Aid for Graduate and Professional Degree Students
Financial Aid for Hispanic Students
Financial Aid for Medical School
Financial Aid for Medical School Advice
Financial Aid for Minorities
Financial Aid for Native American Students
Financial Aid for Women
Financial Aid Information
Financial Aid Resources (compiled by Georgetown University School of Medicine)
Financial Aid: The SmartStudent Guide to Financial Aid
Financing a Health Professions Education
Financing Medical School 101: Dos and Don’ts
Financing Your Veterinary Medical Education
Forgiveness, Loan Repayment, and Scholarship Options Through Service and the Military
4 Best Grad Student Loans
Free Application for Federal Student Aid (FAFSA)
Free Scholarship Searches
Gallagher Student Health Careers Scholarship Program
Global Student Loan Corporation
GradLoans Medical School Loans horatioalger
Grants for Medical Students
Graduate Financial Aid Funding
GraduatePrograms.com Graduate School Scholarships Search
Graduate School Scholarships
Graduating Debt Free Guide
Harry S. Truman Scholarship
Health Research and Educational Trust of New Jersey Health Career Scholarship
Hellenic Medical Society of New York Scholarship
Hispanic College Fund Scholarship Programs
Hispanic Dental Association Foundation (HDAF) Scholarship Programs
Hispanic Scholarship Fund
Hispanic Scholarships
Horatio Alger Association Scholarships
How Do I Pay for Medical School?
How Do Student Loans Work?
How to Apply for Financial Aid for Medical School
How to Get Financial Aid for Medical School
How to Pay for Medical School
How to Pay for Medical School (Med School Pulse)
Illinois Department of Public Health Center for Rural Health Medical Student Scholarship Program (for Illinois residents)
Income-Based Repayment (IBR) Information for Federal Student Loans
Indian Health Service Scholarship Program
Insurance Providers Look Twice, Save a Life Scholarship
International Education Financial Aid (IEFA)
International Financial Aid Resources and Information
International Scholarships
International Student Loan Center
Japanese Medical Society of America Scholarships
Jewish Federation of Greater Philadelphia Educational Loan and Scholarship Funds
Job-Applications.com Working Parent College Scholarship Program
Korean American Scholarship Foundation Scholarship
45 Scholarships for Latinx and Hispanic Students
Latino Medical Student Association Scholarship for U.S. Medical Students
Latino Scholarships
Leopold Schepp Foundation Scholarship
Less Common Ways to Decrease Medical School Costs
Links to 100 Dental Scholarships
Mabelle Arole Fellowship
M.A. Cartland Shackford Medical Fellowship
Maine Dental Education Loan Program
Maine Health Professions Loan Program
Maine Medical Education Foundation Loan
Maine Medical Loan (Maine Educational Loan Authority)
Maine Loan (Maine Educational Loan Authority)
Maine Veterinary Medicine Loan Program
Mapping Your Future
Margaret McNamara Memorial Fund (MMMF) Educational Grant Program
Marine Corps Scholarship Foundation
Massachusetts Department of Higher Education Office of Student Financial Assistance Grant, Scholarship, Tuition Waiver, and Loan Information
Massachusetts Educational Financing Authority
Massachusetts Medical Society Scholarship Information
Medical Scholarships Around the World
Medical School and Health Professions Scholarships, Fellowships and Postdoctoral Awards
Medical School Costs for Non-traditional Students
Medical School Grants
Medical School Loan Info
Medical School Loans (MSL)
Medical School Scholarship Aid
Medical School Scholarships
Medical Scientist Training Programs (MSTP)
MeritAid.com Scholarship Information
Microsoft Scholarship Program
Military Affiliation Scholarships
Military Scholarships for Medical School Advice
Military Student Aid
Minority Scholarship Listing
Minority Scholarships
Minority Scholarships, Fellowships and Summer Research Internships
MyMoney.gov
National Arab American Medical Association (NAAMA) Foundation Scholarship
National Association of Medical Minority Educators (NAMME) National Scholarship
National Association of Student Financial Aid Administrators (NASFAA) State Financial Aid Programs
National Congress of American Indians (NCAI) Native Graduate Health Fellowship
National Data Base of Scholarships
National Dental Association Foundation (NDAF) Scholarships; NDAF Colgate-Palmolive Scholarship
National Health Service Corps (NHSC) Scholarship Program; NHSC Loan Repayment
National Institutes of Health (NIH) Undergraduate Scholarship Program
National Italian American Foundation (NIAF) Scholarship Program
National Medical Fellowships (NMF) Scholarships and Awards
National Optometric Association Scholarship Opportunities
National Student Loan Data System (NSLDS)
Navy Health Care Careers
New Hampshire Charitable Foundation Scholarships
New Hampshire Higher Education Loan Corporation (NHHELCO) EDvestinU Loan Program
NURSE Corps Scholarship Program; Loan Repayment Program
Nursing Scholarships
Nursing Scholarships and Financial Aid
Nursing School Student Loans
100 Scholarships from African-American Colleges and Universities
Organization of Chinese Americans (OCA) Scholarship Program
Paying for a Veterinary Medical Education
Paying for Graduate School
Paying for Medical School Advice
Paying for Medical School Links
Paying for Your Master’s Degree
Peace Corps
Peterson’s Graduate School Scholarship Search
Polish Junior League of Massachusetts Scholarship
Princeton Review Scholarship and Financial Aid Info
Resources for Scholarships and Other Financial Assistance for Veterans
Rhode Island Scholarship Search
Rhode Island Student Loan Authority Nursing Reward Program
Rhode Island Student Loan Authority Student Loan Program
Ron Brown Scholarship Program Additional Scholarship Resources
Sallie Mae Graduate Student Loans
SAMFund for Young Adult Survivors of Cancer Grants and Scholarships
Samuel Huntington Public Service Award
Santa Barbara Foundation Scholarships
Scholarship and Financial Aid Scams
Scholarship Directory
Scholarship Finder for the Military Community
Scholarship, Grants, and Financial Aid for Minority Students
Scholarship Resource Links on the Paul & Daisy Soros Website
Scholarship Resources for Students in Healthcare Fields
Scholarship Scams
Scholarship Search Listing
Scholarships and Loans
Scholarships By State
Scholarships By Type
Scholarships for Disadvantaged Students
Scholarships for Health Care Students
Scholarships for Native Students
Scholarships for Students with Disabilities
Scholarships for Vermonters
Scholarships for Women
Scholarships to Give Your Medical Education a Shot in the Arm
SeniorAdvisor.com Future of In-Home Care Scholarship
SeniorCare.com Aging Matters Scholarship
Service-based Loan Repayment Program
Sherry R. Arnstein Minority Student Scholarship Program (for osteopathic medicine)
Smart Student Guide to Financial Aid FAQ
Society for Advancement of Chicanos and Native Americans in Science (SACNAS) Grad Student Scholarships
Sons of Italy Foundation (SIF) Order Sons of Italy in America (OSIA) Scholarships
State and Other Loan Repayment/Forgiveness and Scholarship Programs
State Educational Benefits for Veterans
State of Residence Scholarships
State-Specific Scholarships Resource List
Stephen Phillips Memorial Scholarship Fund
Student Loan Guidebook
Student Loans for Medical School
Student National Dental Association Scholarships
Student National Pharmaceutical Association Scholarships
Student Osteopathic Medical Association (SOMA) Scholarship List
Teach for America Graduate School Partnerships
The College Grants Database
The Kosciuszko Foundation Scholarships
The Paul & Daisy Soros Fellowships for New Americans
200 Scholarships for Minorities
Tylenol Future Care Scholarship
UCLA Scholarship Resource Center Scholarship Search Databases
Udall Native Health Care Undergraduate Scholarship
United Negro College Fund (UNCF); List of Scholarship Programs
U.S. Army Veterinary Corps Health Professions Scholarship
U.S. Department of Health and Human Resources Health Resources and Services Administration Health Professions Loans and Scholarships
Vermont Student Assistance Corporation (VSAC) Vermont Advantage Loan
Veteran Scholarships
Veterans United Foundation Scholarship
Wells Fargo MedCAP Alternative Loan for Health Professionals
Which Private Medical Schools Award the Most Financial Aid?
William D. Ford Federal Direct Loan Program 
You Can Afford Medical School