Institutional
Gift aid received from colleges and universities is referred to
as institutional aid, since the money comes directly from the
school's resources. This type of financial assistance, naturally,
is the most sought-after type of funding and the most difficult
to receive. Scholarships and graduate fellowships may be awarded
on the basis of need, merit, or both.
Most fellowships provide for tuition and stipend. Many cover a
student's full academic career, but some must be renewed each
year. Most fellowship programs are highly competitive and are
designed to attract students with excellent academic records.
They are often limited to doctoral and post-doctoral students,
though there are some that specifically target Master's-level
students in particular fields.
"Portable fellowships" are offered by independent donors or
organizations and can be used at any university. Several
different guides to portable fellowships can be found in your
financial aid office or public library.
Institutional fellowships are awarded through specific
university programs. The financial aid offices of the schools to
which you are applying can give you information on any available
institutional fellowships.
Outside Scholarships and
Grants
Many private grant and scholarship programs exist through
community groups, businesses, and non-profit agencies. Spend time
at the library or on the Internet and investigate free resources.
Kaplan offers you a reliable and affordable
Scholarship Search to provide you with a reputable
scholarship search engine.
Self-Help Options
Assistantships:
Many medical students, especially after their first year, become
teaching or research assistants. Through this arrangement,
teaching assistants help professors by leading seminar sections,
reading papers, and meeting with undergraduates.
Research assistants, common in the sciences, oversee
laboratories and assist professors on projects. Both arrangements
allow students to earn money while gaining experience in their
field. Some universities also reduce tuition for students working
as assistants.
Assistantships provide stipends and/or tuition remission in
exchange. In some programs, assistantships are awarded to every
student; in others they are awarded competitively, based on
academic performance.
Employment:
Although employment is not a financial aid program in the
traditional sense, many med students help finance their education
with income from full- or part-time jobs. Some students choose
part-time programs, extending the amount of time it takes to
receive a degree, but allowing them to finance all or part of
their education through employment.
Student Loans:
Most medical students try to minimize the loan component of their
financing, but sometimes that just simply isn't possible.