Attending medical school is expensive due to the increasing demand for a medical education. The competitive job market is the key reason behind the large number of students opting for a medical degree program. Another reason why there is high demand for medical education is the growing number of patients seeking specialists for treatment. That’s why the cost of medical school is higher than other regular university degrees.
In fact, the cost of acquiring a medical education from medical schools with upgraded infrastructure and high education standards is higher than the average. Aside from tuition and fees, other expenses are a part of medical education such as application fees, housing, food, textbooks and equipment, clinical rotations, USMLE exam fee, transportation, and living expenses.
Many students require financial assistance to cover most fees. Fortunately, reputable Caribbean medical schools offer medical school scholarships to financially assist students at medical school. So, what are the unknown things you need to learn about medical school scholarships?
Become a doctor without worrying about debt
Did you know that full-ride scholarships allow you to become a doctor without worrying about student debt? Full-ride scholarships are tailored to lighten the financial load of medical education. They cover almost every expense related to medical education during a four-year program. However, full-ride scholarships are highly competitive and students must have a strong academic record to apply for them.
A strong academic record is essential
The academic criteria to qualify for various scholarship programs depend on a set criteria. This includes prerequisite coursework, Medical College Admission Test (MCAT) score, undergraduate Grade Point Average (GPA), and letters of recommendation. Therefore, a strong academic record is imperative to qualify for many scholarships. Medical schools also screen and calculate GPAs when applicants submit all their transcripts.
Ace the MCAT
Many medical schools strongly consider the MCAT score while awarding scholarships. It is important to remember that students with high MCAT scores are looked at favorably. You can boost your score by focusing on accuracy, building stamina, and taking as many full-length practice tests as possible.
Benefits of attending a medical school that offers scholarships
The market size of global medical education was estimated at $90.66 billion in 2021, and it is predicted to grow to $162.56 billion by 2028. The World Health Organization (WHO) report states that around 1.36 million students opted for medical education globally. Surprisingly, the number of students enrolling in medical school is slowly dropping over time. Despite the decrease in the number of applicants, medical education remains one of the most sought-after programs among students.
Getting into a top-ranked medical school that provides financial aid helps students cover their education. Financial assistance makes studying medicine abroad a less intimidating experience for many international students. However, you need to explore medical schools with recognized accreditation and key state approvals to enjoy scholarship benefits.
Now that you know all about the scholarships, you can spend more time thinking about your future as a doctor and less time thinking about affording it.