Accept binding scholarship?

[GoodLawd]

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I’m an m1 and I found out that I’m a recipient of a pretty large scholarship. It’ll cover a little over half of my med school tuition. The only catch is I have to practice family medicine, internals medicine, pediatrics, or obgyn when I’m done for 4 years. I’m interested in family and internal medicine/some sub specialties. But it’s slightly intimidating accepting something so binding in my first year.

Thoughts would be appreciated

 

[DoctwoB]

I’m an m1 and I found out that I’m a recipient of a pretty large scholarship. It’ll cover a little over half of my med school tuition. The only catch is I have to practice family medicine, internals medicine, pediatrics, or obgyn when I’m done for 4 years. I’m interested in family and internal medicine/some sub specialties. But it’s slightly intimidating accepting something so binding in my first year.

Thoughts would be appreciated

What happens if you break it? You have to pay it back? How much interest? If market rate or less then you can’t lose by taking the scholarship. Obviously I wouldn’t take it with the intention of going into another field, but if you change your mind you still end up in the same place or ahead.

 

[mvenus929]

Are you restricted on where you can practice? That is, do you have to practice in the area of the med school, in a rural area, in a community health setting, or can you practice anywhere?

If you ulltimately want to do a subspecialty of one of those fields, you can go back after you complete your committment, so that’s not as big of an issue. If you wanted to do surgery in the end, I’d find out the penalty for breaking the terms of the scholarship now. Some of those “scholarships” are really loans that just get forgiven when you complete the terms, otherwise you just pay them back.

 

[21Rush12]

Run far away. You have no idea what you want to do, no matter how sure you think you are. Don’t pigeonhole yourself into a potential career you hate because of a half off coupon.

 

[Raney Schauer]

We need more details. Where is the scholarship from?

 

[GoodLawd]

It’s a local foundation that promotes primary care in several cities within my home state. I’m an older student so I know I don’t want to surgery out of the sake of time. But I do have interests in some sub specialities within internal medicine.

 

[chizledfrmstone]

I feel like if you are reserved on whether you want it or not it's probably not for you.

I knew I wanted primary care throughout med school so I most likely would have taken it in a heartbeat.

 

[gshocke]

I’m an m1 and I found out that I’m a recipient of a pretty large scholarship. It’ll cover a little over half of my med school tuition. The only catch is I have to practice family medicine, internals medicine, pediatrics, or obgyn when I’m done for 4 years. I’m interested in family and internal medicine/some sub specialties. But it’s slightly intimidating accepting something so binding in my first year.

Thoughts would be appreciated

No no no. Do not accept that offer.
1. How did they identify/choose you for said scholarship?
2. That offer is a rip off. national health service Corp offers FULL tuition in addition to $1500 monthly stipend. With 2 year minimum commitment (i.e if you take the scholarship for only 3rd and 4th yr, you only have to give back 2 years)
3. How much is the exact numerical value of the half ride? NHSC , also has a loan forgiveness of 30k/year for up to 120k. This commitment is made AFTER you finish residency, therefore no pressure during med school Incase you want to change your mind in specialties.
4. What people fail to realize is the ample amount of loan forgiveness programs available for PCPs. No need to put the burden on yourself now. Yes, you probably save on interest cost but I don’t think it’s worth the seriousness of that commitment.
5. As a person who KNEW I was going into primary care the moment I stepped into med school... suprise, surprise I’m specializing.. I’m so happy I did not take that NHSC scholarship.

 

[21Rush12]

No no no. Do not accept that offer.
1. How did they identify/choose you for said scholarship?
2. That offer is a rip off. national health service Corp offers FULL tuition in addition to $1500 monthly stipend. With 2 year minimum commitment (i.e if you take the scholarship for only 3rd and 4th yr, you only have to give back 2 years)
3. How much is the exact numerical value of the half ride? NHSC , also has a loan forgiveness of 30k/year for up to 120k. This commitment is made AFTER you finish residency, therefore no pressure during med school Incase you want to change your mind in specialties.
4. What people fail to realize is the ample amount of loan forgiveness programs available for PCPs. No need to put the burden on yourself now. Yes, you probably save on interest cost but I don’t think it’s worth the seriousness of that commitment.
5. As a person who KNEW I was going into primary care the moment I stepped into med school... suprise, surprise I’m specializing.. I’m so happy I did not take that NHSC scholarship.

Very well said! This encapsulates a lot of the issues with these type of scholarship and it helps to hear from people with the experience of changing their mind during Med school after being certain going in.