What is a good scholarship?

[MDlawyer]

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(1)What is the traditional amount that a private school will give in scholarship?

(2)What is the high end---considered to be a good scholarship?

(3)Would the amount of money influence your decision to go to one school over another?

MDlawyer

 

[carrigallen]

(1) Free money is usually ~5-10% of the total bill. Scholarships are rare in general, with some exceptions (ie Mayo).

(2) Depends on the school. For example again, Mayo will discount a significant portion of tuition, while many other schools do not give much scholarship money. Really what you are interested then are the type of loans offered...

(3) It is one important factor, of many.

 

[ready]

THERE IS NO SUCH THING AS A BAD SCHOLARSHIP.

 

[jennie 21]

There are very few scholarships available for med school. What scholarships there are are usually need-based or have a service obligation associated with them (military, U.S. Health Service Corps). Wash. U. and Mayo both offer some merit-based scholarships (either full or partial) but those are the only ones I'm aware of. Most financial aid is in the form of loans. They assume you'll be making enough money when you get out to be able to afford to repay it.

 

[moops]

what is the most they usually give for need based?

 

[kiping]

are these need based loans special- like what is the difference between these loans and the private ones that most of us will inevitably take out???

 

[moops]

low interest

 

[gwyn779]

I get about half my in-state tuition in need-based scholarships. But I borrow a ton more since I need living expenses. Right now, the federal loans actually have lower interest rates than my school loans, but they're both really low.

 

[moops]

what school,if i may ask? this is for med school right?

 

[CRAZYTERP]

The University of Miami also offers $7,500 to all out of state students for year one and it says you are eligible to reapply each year. If you are lucky enough to get that over 4 years you can make up about 3ok. Out of state tuition is around 36k/year and in state is about 28k/year.

 

[kcol22]

I have free tuition at Vandy (non-need based) and that definitely influenced my decision.
Go Vandy! Class of 2007

 

[lotanna]

My friend got free tuition at Wayne State, she's instate. She gets it for all 4yrs.
My best friend goes to U of M Dental School, got great grants and scholarships, only takes like $4k a yr in loans

 

[merlin17]

There is definitely need-based scholarship money at some of the wealthier medical schools. I only interviewed at one school that didn't make up at least part of your estimated financial need (after subtracting expected family contribution) with "free money." I am almost positive that these types of scholarships are all dependent on how much you and your family can contribute.

 

[girldoc]

U Pitt gives 15 full merit scholarships a year. U Penn also gives out full and half tuition merit scholarships.