How to Pay for Medical School Without Loans

Paying for Medical School Without Loans

How to pay for medical school without loans? You might be wondering the same as student loans can take years to pay back. So, what are the other available options to fulfill your dreams?

While some medical careers are there with high school or undergraduate education, years of medical school education are required to become doctors or advanced practice nurses.

The skyrocketing costs of attending medical school mean going into debt.

The staggering amount of loans and medical school debts becomes a huge burden on young physicians. It is not surprising that students still turn to loans; however, it isn’t the only way.

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How to Pay for Medical School Without Loans – How Much Does Medical School Cost

Completing medical training can be a long and expensive process. However, it should not deter you from achieving your dreams. There are smart ways with the right financial planning that makes the medical school costs more manageable.

For a first-year resident student, the median tuition for public medical schools is approximately $30,500, and for non-residents, it is around $55,000.

The tuition fees can exceed $50,000 for private medical schools without making much difference for resident and non-resident students.

How to Pay for Medical School Without Loans – Financing Medical Schooling

Don’t let yourself be buried in debt! Check out the loan-free ways to finance your undergraduate or medical schooling.

  • Scholarships

Medical school scholarships help you focus on your studies without worrying about the education bills.

To get scholarships, it is not necessary to make the top grades. In addition to academic performance, scholarships are offered for various factors such as overcoming adversity, minority status, or field of study.

Besides academic institutions, scholarships are given by local corporations, local utility companies, banks, or even churches. These are sometimes as easy as filling out a form and writing a description.

Some scholarships are also available to high school students who plan to pursue pre-med courses and then medicine.

To take an example, the Palo Alto Foundation Medical Group (PAFMG) provides $25,000 in scholarships over five years to support four years of undergraduate university and the first year of medical school local graduates.

For more information, visit and search for PAMF scholarship awards.

Medical School Scholarships Through the Armed Forces

One can fund their medical education by obtaining scholarships from the Health Professions Scholarship Program (HPSP).

It helps pay for the full four years of medical school, including living expenses.

To apply for an HPSP scholarship, an applicant must already be enrolled in medical school and serve four years of active duty in the military after graduation.

To learn more, visit Under careers and jobs, click on Army Health Care (AMEDD), click on education, and you can find HPSP programs there.

American Medical Association Scholarships

The American Medical Association (AMA) offers financial aid to medical students. To apply for these scholarships, contact the financial aid office of your school.

Physicians of Tomorrow Award and Minority Scholarship Award are some of the examples of scholarships offered by AMA.

  • National Medical Fellowships

National Medical Fellowships (NMF) is a non-profit organization that strives to increase the number of minority physicians. The general scholarships are offered based on the needs of first- and second-year medical students, where residents can apply for funds.

For more information, visit

  • Grants and Awards

The university or the medical school also offers few grants for general medical studies. Several awards are set up for students who meet certain criteria, anything from grades volunteer work, etc.

Additionally, for low-income families, federal government grants are offered to pay for education. The advantage of such grants is that they need not be repaid.

An example of a government grant that provides complete tuition is the Medical Scientist Training Program (MSTP).

Besides paying for medical school, the MSTP will also pay for a Ph.D. To learn more, visit and search for the National Institute of General Medical Sciences, where you can find MSTP.

  • The U.S. Health Service Corps

The National Health Service Corps (NHSC) is administered by the U.S. Health Resources and Services Administration (HRSA). The program offers medical education funds, paying most of the tuition fees in return for 2-4 years of service in medically underserved areas.

For more information, visit


How to pay for medical school without loans is the first question that comes to mind before pursuing medical education.

There are various financial aids except for loans that can help. Smarter educational decisions can lower tuition costs, thereby saving thousands of dollars on college medical costs.

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