Grants and scholarships are available through a variety of sources to help finance medical school. These can be identified via several methods. Some grants and scholarships are available directly through the school, either from endowed funds that have been gifted or from a percentage of tuition revenue that is reserved to help economically disadvantaged students to better afford their medical education. Medical students are considered for need-based grants/scholarships on the basis of their financial aid application (FAFSA). Frequently, parental financial income and asset information is required on the FAFSA to receive consideration for institutional grants for which need is the primary selection criteria. Medical students are considered for merit scholarships strictly on the basis of their admission application information and/or their academic performance in medical school. Further information on satisfactory academic regulations is available in the CCOM Student Handbook.
In addition to the loans, grants and scholarships awarded and/or approved by The University of Iowa or the Carver College of Medicine (CCOM), you may wish to apply for outside grants or scholarships. The CCOM will announce scholarship opportunities to students through the use of list serves. You are encouraged to pay attention to these notices and to consider applying for those you are eligible for in order to help minimize your educational indebtedness.
Grants and scholarships are available from private sources. By taking the initiative to research availability and by following through with the application process, a student may receive outright gift money in the form of grants and scholarships. Finding potential assistance may be as easy as talking with upper-class students about assistance they have received, consulting various scholarship books at local libraries, or keeping alert to potential sources when reading newspapers or magazines. Another good approach is to spend a few hours browsing the Internet looking for scholarship resources that support medical, graduate, or professional education. A focused search will save time and give greater chance of success.
University of Iowa grants
Each academic year the College of Medicine receives an allotment from tuition set-aside funds for University grants for needy medical students. These grants range from $4,5000 to $9,000 for residents; $6,500 to $13,000 for non-residents and are based on financial need as calculated by the FAFSA. Parental income and asset information is required on the FAFSA to determine eligibility for these grants. About 50% of enrolled students qualify for some level of grant assistance each year.
Carver College of Medicine grants/scholarships
The Carver College of Medicine has limited endowed and set-aside funds that are awarded to eligible students. Most of these are awarded based on financial need although some are awarded based on both academic achievement and financial need. A few sources are awarded strictly on the basis of merit. Awards range in value from $200 to full first-year tuition. Parental income and asset information is required on the FAFSA to determine eligibility for the awards that have a financial need component. A few Deans Scholarships are also available for entering students that are awarded strictly on the basis of merit. A separate application process is not required for these merit scholarships. Awards are made based on information provided during the regular admission application process.
Learn more about endowed scholarships: http://www.uifoundation.org/medicine/scholarships/
The Carver College of Medicine works closely with a few organizations that award grants to medical students. These awards are usually for students from specific counties in Iowa. There are also other outside funds which students can locate on their own, such as grants from local medical societies, hospital auxiliary groups, science clubs, charitable groups such as the March of Dimes, Easter Seals etc., educational foundations of industrial corporations, religious groups, and private clubs.