Scholarships attract the best students, recognize academic achievement, and promote diversity among the student body. All of these efforts enrich our campus and ensure a higher-quality education for our students. Scholarships make education attainable for those who need financial assistance, and they enable students to focus on schoolwork and learning, rather than on just trying to survive. The scholarship funds you provide will benefit these students, giving them the opportunity they so earnestly seek: to gain a medical education at this outstanding academic institution.
An endowed scholarship is tuition (and possibly other cost) assistance that is permanently paid for with the revenue of an endowment fund specifically set up for that purpose. It can be either merit-based or need-based depending on university policy or donor preferences.
Need-based scholarship are just that, scholarships based on need. For some of the best and brightest future doctors, the ability to pay for medical school is an overwhelming challenge. Scholarship support can help highly motivated, talented individuals overcome one of the biggest challenges to starting their careers – the cost of advanced professional training. The cost of a medical degree has more than tripled in the past 10 years. With the average debt for a medical student graduate being $160,000, nearly all medical students need financial support to complete their studies.
Fellowships are similar, although they are most commonly associated with graduate students. In addition to helping with tuition, they may also include a stipend. Fellowships with a stipend may encourage students to work on a doctorate.