Financing your Medical Education

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Medical School is one of, if not the most, expensive graduate degree programs in the United States, with the cost of tuition alone being one of the main factors behind many students not pursuing it. However, there are many merit and need-based scholarships & programs targeted at helping students navigate the stressful and complex process of financing a medical education and achieving your health profession career goals. A few of these programs are highlighted below:

HPSP is a U.S. military scholarship that helps medical students pay for full tuition, required fees, books/equipment, and provides a monthly living stipend in exchange for service as a commissioned officer in the Army, Navy, or Air Force. 

HPSP is open to applicants that meet the following requirements:

• U.S. citizen
• Accepted to or enrolled in an accredited medical (MD/DO) school
• Meet military commissioning standards (criminal background check and other qualifying criteria)
• Meet military physical standards as assessed in the Military Entrance Processing Station (MEPS)

Applicants typically need strong academic credentials (competitive GPA and MCAT scores) and must maintain full-time student status during the scholarship. 

• a minimum 3.2 GPA is required
• a minimum 500 MCAT is required
• An MCAT score ≥ 508 and GPA ≥ 3.6 are generally considered more competitive for HPSP selection
• Applications are accepted on a rolling basis, with no formal deadline to apply

In return for these financial benefits—which can include a taxable signing bonus and taxable monthly stipend of roughly $2,800-$3,000/month—recipients agree to a service obligation of at least one year of active duty for each year of scholarship received, with minimum active-duty service requirements (for physicians generally at least 3-4 years) after graduation and training. While on scholarship students serve part-time on active duty each year and are appointed as reserve officers until they begin active service after completing medical school and residency.

Additionally, HPSP medical students apply to both the Military Match and Civilian Match, making HPSP residency applicants much less likely to go unmatched each cycle. 

*NOTE: you cannot be pushed into active duty while receiving your medical education, which includes both your 4-year medical degree at an accredited MD/DO program as well as your residency program. 

In progress...