Before you can plan on medical school, you have to earn your bachelor’s degree. Premed students aren’t required to take a certain major, but the majority of medical school applicants majored in biological sciences.
Between your bachelor’s degree, medical school, and completing your residency, your education can be expensive. Before turning to loans, take advantage of scholarships for premed students to reduce your education costs.
Top Scholarships for Premed Students
Premed scholarships are available from some universities, non-profit organizations, and companies. For example:
1. Gladys Carol Scholarship Program
The Gladys Carol Scholarship Program is for high school seniors, high school graduates, and current undergraduate students enrolled full-time in a science, technology, engineering, or math program at an accredited, non-profit four-year school. Qualifying students can receive up to $5,000.
2. Fontana Transport Inc. Scholarship Program
Fontana Transport is a family-owned trucking company in California. It operates a scholarship program for first-generation high school seniors that need financial assistance. Recipients can get up to $5,000 to pay for their education.
To qualify, you must be a high school senior and intend to major in an eligible field for the upcoming fall semester. Eligible majors include premed, science, math, and psychology.
3. Indian Health Service (IHS) Preparatory and Pre-Graduate Scholarship
The IHS Preparatory and Pre-Graduate scholarship program is for American Indian and Alaska Native health profession students pursuing a bachelor of science degree. For premed students, there is no service commitment; you only have to be a college junior or senior and be premed or pre-dentistry. The scholarship provides money for tuition, school-required fees, and a monthly stipend for living and other educational expenses.
4. Sino-American Pharmaceutical Professionals Association (SAPA) Scholarship and Excellence Program
SAPA’s Scholarship and Excellence Program is designed for outstanding high school students entering college. The scholarship is valued up to $750 and is intended for students majoring in the life sciences or biology, chemistry, or applied science.
5. SignatureCare Emergency Center College Scholarship
SignatureCare Emergency Center provides scholarships of $1,000 to undergraduate and graduate students that plan to enter medical fields. To qualify for a scholarship, candidates must have a G.P.A. of 3.0 or above and submit a 500-word essay and 30-second video in response to prompts.
6. State Scholarships
To encourage students to pursue careers in high-need areas like healthcare, some states offer grants or scholarships to premed students.
For example, Washington state operates the Baccalaureate Scholarship. Available to students attending public or private schools in Washington state, this scholarship provides up to $22,500 in financial support. To qualify, you must be a Washington resident planning to pursue a healthcare or STEM degree.
7. The Gates Scholarship
The Gates Scholarship is a last-dollar award, meaning it will cover the full cost of attendance not covered by other financial aid and the expected family contribution. It’s designed to help minority high school students from low-income households earn a college degree.
8. University Scholarships
Many schools have their own institutional scholarship programs specifically for premed students. Depending on the school, the awards can be merit-based or a mix of need- and merit-based.
For example, at Baylor University, premed juniors and seniors can qualify for merit-based scholarships. Scholarship amounts vary based on the award, but to be competitive, students should have a GPA of 3.5 or above. Students should also have completed the Free Application for Federal Student Aid (FAFSA).
Other Financing Options for Pre-Med Students
While premed scholarships can be helpful, you may not qualify for enough awards to cover the full cost of your education. If that’s the case, you may be eligible for one or more of the following financial aid options:
- Pell Grants: Federal Pell Grants are available for undergraduate students with qualifying financial needs. If eligible, you can receive up to $6,895 per year in Pell Grants, and they don’t need to be repaid.
- Work-Study: Undergraduate students that need financial assistance may be eligible for federal or state work-study programs. With this option, you work a part-time job related to your major, and your earnings can be used for some of your education expenses.
- Federal Loans: For undergraduate students, you can take out Direct Subsidized or Unsubsidized Loans. These loans have 10-year repayment terms and six-month grace periods.
- Private Student Loans: If you need additional money for school, another option is private student loans. ELFI allows you to borrow up to the total cost of attendance, and you can have up to 15 years to repay your loan.* You can get a rate quote and complete your loan application entirely online.
