Medical Student Financing Resources
There are several options for financing your medical education at Drexel University.
Please review the following for more information:
Drexel College of Medicine Scholarships
Drexel University offers a number of scholarships to medical students and graduate students in the College of Medicine. In order to be considered for scholarships and grants, you must submit parental data on the FAFSA and complete an online application at the Drexel College of Medicine Scholarship website.
The deadline to apply for these scholarships is April 1, 2016 for continuing students and May 15, 2016 for incoming students.
There are several different loan options you can consider as a medical student:
Private Scholarship and Grant Funding
Many scholarships and grants are offered by private sources, such as fraternal and religious organizations, labor unions, professional associations, social groups, and ethnic associations.
Because they are private and therefore not administered by Drexel, it is up to you to research and apply for them on your own. The best place to start your research is with any organization with which you or a family member has an affiliation (such as your or your parents' employer, church or religious organization).
Much of your research will involve using the Internet. It is important to be careful when reviewing information online. Drexel recommends that you do not use any fee-based service to look for private scholarships. Below are several scholarship search engines that are free:
Additionally, you may want to review some of the awards offered by the following organizations:
The United States Armed Forces offer scholarships to medical students who are U.S. citizens. Scholarships pay the full cost of tuition each academic year and a stipend for living expenses. To accept a scholarship, you must commit to serving in a branch of the U.S. armed forces.
You can contact the different Armed Forces branches offering scholarships at the following websites:
The NHSC Scholarship Program is open to medical students who are committed to primary healthcare practice in underserved Health Professionals Shortage Areas (HPSA). In return for your service commitment, the NHSC pays for your full tuition and fees for the upcoming academic year, a monthly stipend, and an allowance for other reasonable educational expenses on a year-by-year basis. The minimum service obligation is two years.
Please be aware that the NHSC has interpreted an IRS ruling that full-time NHSC scholarships are taxable. Before the ruling, only the stipend received by the student was considered taxable under IRS guidelines. Now students are required to report the full amount of tuition scholarship and stipend support received through the NHSC as taxable income.
For more information on this program, please visit the NHSC website.
Drexel offers a tuition payment plan hosted by Tuition Management Systems (TMS) for medical students. You are able to split your tuition balance due into monthly installments for each term.