SCHOLARSHIPS and Loans TO HELP YOU FINANCE YOUR EDUCATION
NEED-BASED SCHOLARSHIPS and Loans: Apply Annually
Need-based aid is offered to students who demonstrate a financial need. Student financial need is determined by FAFSA data. Need-based financial aid includes scholarships, and loans. Students must apply for need-based aid on an annual basis. Follow the guidance on the Applying For Financial Aid webpage to apply for need-based aid. The application checklist includes important details on how to complete your financial aid application to be considered for need-based aid.
At NEOMED, the awarding methodology for need-based aid is a pooling method. All available need-based aid is placed into the same general pool of available funds. Annually a percentage of financial need is calculated based upon the total amount of available funds and total amount of financial need for all eligible students. Need-based aid is offered in an equitable method, ensuring that each eligible student is offered aid in the amount of the same percentage of financial need. While the percentage of financial need met will be equitable amongst all eligible students, the amount of aid is based on the students’ individual financial need.
Scholarships are considered a source of “gift-aid” because they are a source of free money – financial aid that doesn’t need to be paid back. There are multiple need-based loan opportunities. See the Loans webpage for further information, including the terms and conditions of the loans.
NON-NEED BASED SCHOLARSHIPS: application REQUIRED
Merit scholarships are awarded based upon merits such as goals to serve medically underserved communities or engagement in exceptional community service. These scholarships require an application, and the typical application cycle is from November through December.
SCHOLARSHIP FOR DISADVANTAGED STUDENTS (SDS)
The Scholarship for Disadvantaged Students (SDS) program is available to first-year College of Medicine students only. Up to seven (7) first-year medical students can qualify for the SDS program on an annual basis. SDS scholarship amounts are a minimum of half of tuition. This scholarship program requires an application. Prior to starting medical school, students will be notified via email when the application process opens (typically during the springtime).
The SDS Program is made possible by a grant from Health Resources & Services Administration (HRSA). The HRSA SDS Program aims to increase the: 1) number of graduates practicing in primary care, 2) retention of full‐time students from disadvantaged backgrounds including underrepresented minorities (URM), and 3) number of graduates working in Medically Underserved Communities (MUCs). The current HRSA grant project period is through 6/30/2025. The SDS program is subject to annual grant approval from HRSA and funds are not guaranteed.
Education for Service opportunities provide funds for students to finance their education in exchange for a commitment to servicing the community. Funding opportunities include both scholarships and forgivable loans. When an application cycle launches, students will be notified via email.
The application process for these opportunities often requires an interview with the a search committee.
There are also service-based opportunities offered by external sources such as the National Health Service Corps. The Office of Financial Aid will communicate these opportunities with students as they become available.
NON-NEED BASED SCHOLARSHIPS: No Application
There are non-need based scholarships awarded to students who meet eligibility criteria without the student completing any application. Some scholarships are awarded during the admission process and others are awarded based on academic merit during continued enrollment at NEOMED. Students are unable to apply for these types of scholarships because these types of scholarships will be processed internally by the Office of Financial Aid. Students will be notified via email if they have been selected for these awards.