Paying for Med School
Covering the cost of medical school can be challenging. Though many students receive some support from their families, a lack of financial aid from home need not deter you.
As an undergraduate you can receive financial help through the channels normally available to all undergraduates. Once you are accepted by a school, you may continue to receive some financial aid, depending on the resources available to you and the quantity of financial aid resources available to the school.
You may find that you must be willing to go into debt to complete your medical or health professional education. Some students may be $20,000 to $100,000 in debt upon graduating from medical school. However, with the degree in hand, the possibility of earning a comfortable income increases considerably. Hence, with careful planning, the debts incurred can be repaid within a reasonable amount of time.
In summary, if you are qualified for your medical or health professional school, need financial help, and are willing to go into debt, money for a medical education may be available. In general, pre-health professions advisors are not very good financial advisors.
Where to go for more information on financing your health professional degree:
- Scholarships, Fellowships, and Research Opportunities page contains links to general funding sources.
- The professional association that coordinates accreditation and/or admissions for schools that offer programs in your area. For an M.D., www.aamc.org. For a D.O., www.aacom.org. Dentistry: www.adea.org. See Choosing a Health Profession for additional links and a guide to other health professional associations.
- The financial aid office of the school to which you have been admitted, or – for advice – those of schools to which you are considering applying.
- UW-Madison’s Office of Student Financial Services provides information about financial aid for UW Medical, Pharmacy, and Veterinary Schools.
- National Health Corps (NHSC) Scholarship Program offers a competitive scholarship program designed for students committed to providing primary health care in communities where other clinicians have chosen not to go. Scholarship recipients serve where they are most needed upon completion of their training.
- Armed Forces Health Professions Scholarship Programs (AFHPSP)
- For minority and under-represented students, National Medical Fellowships provides small scholarships to beginning students, and also has programs for which students must be nominated by their health professional school.