Financing Your Education
Updated 10/23/2023
Embedded Files
Resources on Personal Finances
Resources on Personal Finances
It's never too early to think about scholarships, grants, or service programs that can help cut down on the debt you might incur as a future health professions student. Here are some resources to help you find possible programs or opportunities to manage your loan debt during and after school:
Student Funding Opportunities by type of health professions school by the National Association of Advisors for the Health Professions (NAAHP)
FIRST (Financial Information, Resources, Services, and Tools) by AAMC
National Health Service Corps (NHSC): Scholarship and Loan Repayment Programs
Loan Repayment/Forgiveness/Scholarship and Other Programs Database
Indian Health Service (IHS) — Loan Repayment and Scholarship Programs
Repayment Assistance Through Forgiveness, Scholarships, or Service
43rd & Woodland Podcast: Personal Finances
Finances (Part 1) - Fiona Bardhi
Fiona is a 2016 psychology alum and discussing the bane of everyone's existence: finances. Fiona gives amazing insights into how to manage your finances both as a current student and recent graduate with some interesting experiences in between. Personally affected by the government shutdown at the beginning of the year, she shares her thoughts on how to combat personal finances in periods of stress and also some humorous thoughts about the expensive nature of fresh produce.
Finances (Part 2) - Brent Greenlee
Brent Greenlee is a Rutgers University alum with close personal ties to USci. In his experience of corporate finance and with his background in economics, Brent lays out some of the best tips for current students and recent grads on how to manage finances, save for the future, and still enjoy your money while you're young.
The White Coat Investor: A Doctor's Guide To Personal Finance And Investing
This book was written by a practicing emergency physician for health professionals and students regarding personal finance, student loans, building wealth, etc.
Scholarships For Health Professions Students
Scholarships For Health Professions Students
Here's some scholarships you might consider applying to in the future when you're a health professions student.
National Hispanic Health Professional Scholarship
If you have an affinity for the health of Hispanic communities, consider applying for the National Hispanic Health Professional Scholarship. Student applicants must be premier members of the National Hispanic Medical Association and enrolled full time for the next academic year in the following accredited graduate programs: Dental, Medical (MD or DO), Pharmacy, Nursing (including BSN), Public Health or Health Policy. Application information is available online.
National Health Service Corps Scholarship
Consider applying for this competitive scholarship program if you have been accepted to accredited medical, dental, or PA school and are committed to practicing primary care in high-need, underserved communities (rural, urban, and frontier communities with limited access to care).
Scholarship support includes tax-free payment of tuition, required fees, other reasonable educational costs, and a taxable monthly living stipend. After completion of graduation/training, recipients fulfill their service commitment at one of more than 16,000 NHSC-approved sites throughout the nation and its territories. Each scholar serves for a minimum of two years and receives one year of financial support (up to four years) for each year of service at an NHSC site.
Watch this Program Application Webinar and apply for the NHSC.
Participate in a social issue campaign related to education, gun violence, mental health physical health, homelessness & poverty, environment, sexual harassment, bullying, gender rights, racial justice, discrimination, LGBTQ+ rights, voter registration. Enter to win by doing community service. No essays, no GPA requirements, no recommendations, no applications--and you can enter multiple scholarships.
Public Service Loan Forgiveness
If you work a full-time job in public service, you may qualify for public service loan forgiveness.
What is a Public Service Loan Forgiveness Program?
What must I do to have any remaining balances on my Direct Loans forgiven under the PSLF program?
What loans are eligible for forgiveness?
U.S. Military: Health Professions Scholarship Program (HPSP)
U.S. Military: Health Professions Scholarship Program (HPSP)
These scholarships cover all direct educational costs (i.e., tuition, fees, books, health insurance) and provide a monthly stipend for ten and one-half months per year. In return, there is a service commitment of one year of active duty service for each year of participation in the program (minimum commitment of 3 years).
Are you a prospective medical (MD/DO), dental, veterinary, nursing, counseling/clinical psychology or optometry student? Consider applying for the U.S. Army's Health Professions Scholarship Program (HPSP). Learn about the cost of school and how the U.S. Army will cover 100% of tuition, books and fees. The HPSP will also provide a stipend of over $2,400/month while you're in school. Watch these webinars to learn about the qualifications and benefits of being an Army health professional:
U.S. Army Health Professions Scholarship Program for Medical School
U.S. Army Health Professions Scholarship Program for Dental School
Army Recruiter: Frantzcesca Casimir
If you’re already in or plan to attend medical school, dental school or a qualifying health-care-related postgraduate program, you can join the Navy while you’re still in school through the Health Professions Scholarship Program (HPSP). The program pays for tuition, offers monthly living expenses and a potential sign-on bonus.
Navy Recruiter: David J. Cooley
The Air Force offers scholarships for healthcare professionals to include: one- and two-year scholarships for Allied Health specialties (pharmacists, optometrists, clinical psychologists and public health officers), two- and three-year scholarships for nurse corps specialties and three- and four-year scholarships for medical corps and dental corps.
These scholarships cover all tuition and required fees, including textbooks, small equipment items and supplies needed for study. You will also receive a monthly allowance for living expenses. While on scholarship, you will spend 45 days on active duty in the Air Force, and once you graduate, you will serve one year of active duty for each year of scholarship, serving a minimum of three years.
Air Force Recruiter: Param Stensrud
Program Specific Information
Program Specific Information
Paying for Dental School
Paying for Dental School
According to the American Dental Education Association (ADEA), the average debt per graduating senior in 2022 is $293,900, with 83% of dental students graduating with educational debt. Repaying this debt is one of the biggest concerns of students about to graduate dental school.
Money Matters Information from ADEA about paying for your education
State and Federal Loan Forgiveness Programs Dentists, dental hygienists and allied dental providers from all 50 states, the District of Columbia and Puerto Rico are eligible for the federal and state student loan repayment programs.
Paying for Medical School
Paying for Medical School
The AAMC website and Financial Information, Resources, Services, and Tools (FIRST) includes information about financing your medical education, including:
the cost of applying to medical school
financial aid resources and questions to ask medical school financial aid officers
student loans & impact of the CARES Act
repayment assistance through loan forgiveness, scholarships, or service
Paying for Optometry School
Paying for Optometry School
As the overall costs of optometric education continue to increase, it is important that prospective optometry students begin to investigate potential financial aid sources as early as possible. Because outside employment during optometry school is a limited option for the majority of students, and university sources of funds are also often limited, accepted applicants should contact their school’s financial aid office early to explore their options and understand the school’s financial aid policies and procedures.
ASCO lists scholarship information on their website.
Paying for Veterinary School
Paying for Veterinary School
Each college has scholarships that prospective students could inquire about and a number have scholarships for dual degree students seeking graduate degrees such as the PhD in discipline-based research programs. Students and prospective students are encouraged to contact AAVMC member institutions directly about scholarship aid opportunities as many scholarships are awarded at the local level. To review average scholarship award information by institution, please visit the Cost Comparison Tool.
There are also non-institution specific scholarships available; you can find that information on AAVMC's website.
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