Various grants and awards offered through the OMSA are detailed here including Conference Grants, Event/Initiative Sponsorships, Abeera Shahid Recognition Awards, Art of Medicine Awards, Medical Student Education Research Grants (MSERG) and Innovator Grants.

The CFMS offers several national awards recognizing exceptional medical student leadership, including the CFMS Affinity Leadership Award, the CFMS-MD Financial Management Leadership Awards, and the CFMS-CPAMD Humanitarian Award. These awards honour students who demonstrate outstanding contributions to advocacy, leadership, and the medical student experience across Canada.