How common are scholarships and need based grants from MD schools?

[magician7772222]

I always hear of people getting scholarships especially at MD schools. I'm wondering how likely this actually is in reality. I don't have the best stats (LM 69) but I do have an SAI of -1500 via fafsa and have always gotten full pell plus additional need-based grants from my undergrad, and AAMC FAP when applying/taking mcat. How likely is it that I get some grants from med schools? Is this more likely with private or public schools?

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[Mr.Smile12]

You should bank on financing your medical school education with student loans. Medicine is still a well-paying profession, so scholarships may reflect more of your family income/contribution. Your FAFSA calculations and endowment funds will determine your chances at grants/scholarships over loans. But expect loans unless your tuition is fully covered.

Average Medical School Debt [2024]: Student Loan Statistics

Find statistics about the average medical school debt and the total educational debt among public and private medical school alumni.

educationdata.org

There are also mission-fit opportunities where those selected for the track get significant grants/scholarships. See PRIME at the UC schools for examples.

 

[pedneuro6894]

I think it's very school specific. Schools with large endowments/very well funded have the liberties to give a lot of money. Other schools don't. Some schools offer merit based and need-based aid, some schools only offer need-based. All that information should be on the schools financial aid website.

 

[OfMiceAndWomen]

I think there definitely needs to be more transparency regarding need-based financial aid, especially for applicants from a lower income background. From my personal experience (I also received Pell Grants + need-based fin aid in undergrad and qualified for FAP), I got full COA of need-based aid from the T10 schools I got into, and I basically got zero need-based fin aid at any other school.

There are some schools that are well-known for giving substantial merit-based awards, but it's hard to predict if you're going to get that beforehand. In general, the very top schools give generous need-based aid and no merit-based aid. Otherwise, vast majority of people have loans or family support.

 

[KnoxWhitley]

I think there definitely needs to be more transparency regarding need-based financial aid, especially for applicants from a lower income background. From my personal experience (I also received Pell Grants + need-based fin aid in undergrad and qualified for FAP), I got full COA of need-based aid from the T10 schools I got into, and I basically got zero need-based fin aid at any other school.

There are some schools that are well-known for giving substantial merit-based awards, but it's hard to predict if you're going to get that beforehand. In general, the very top schools give generous need-based aid and no merit-based aid. Otherwise, vast majority of people have loans or family support.

You are right, I agree with you.