Students enrolling in health professional programs should be prepared for a substantial financial commitment. Loans are generally the primary source of funding, with graduate debt averaging over $100,000. Check out these resources to learn more about possible sources of funding:
|Smart Student Guide to Financial Aid||Information about loans, scholarships, military aid programs, links to online aid applications, FAQs, a loan repayment calculator, and a financial aid contribution estimator.|
|Department of Education's Student Guide||Information on federal student aid resources, the application process, eligibility requirements, and standard award amounts.|
|Free Application for Federal Student Aid||Application used to determine eligibility for government funded financial aid.|
Things to Consider
There are many costs associated with health professional programs in addition to tuition and fees. You will also need to pay for your health insurance, rent, transportation, utilities, books, food, etc. Some additional costs, such as child care, medical, and dental costs, are not covered by financial aid. Make sure to set aside savings or other resources available for emergencies.
Limited resources are available to non-U.S. citizens. Most federal sources of aid (and a significant portion of school-funded aid) are available only to U.S. citizens, nationals, permanent residents, and eligible non-citizens. Learn more about policies and resources for international students as health professional program applicants.
Sources of Funding
Some schools have established endowed loan programs and offer loans to their students, often with terms more favorable than federal or private loans.
These loans have higher interest rates and fees and less favorable repayment terms. You can take out private loans to cover costs associated with residency and relocation. Some private loan programs include:
|Federal||Scholarships for Disadvantaged Students (SDS) are funded by the federal government and awarded by medical schools to students demonstrating significant financial need. Funds are generally very limited and eligibility for awards is based on school-established criteria.|
|Institutional||Many schools award scholarships to students based on criteria such as merit or financial need. A large percentage of schools require you to submit parental financial information on your application in order to be considered for need-based scholarships.|
Utilize free scholarship search engines that are available online to find other opportunities offered by private groups. Be wary of services that cost money or guarantee scholarship awards. Some credible and free search engines are:
Service Repayment Programs
|National Health Service Corps||
The Public Health Service offers a competitive scholarship program designed for students committed to providing primary health care in underserved communities.
|Armed Forces Health Professions Scholarship Programs||The Army, Navy, and Air Force will cover the tuition, living expenses, and other educational costs associated with medical school; the student repays this scholarship with service during school and after graduation.|
Resources by Health Profession