While medical education is an excellent investment, federal financial aid programs are critically important to helping ensure medical school remains an option for all students, regardless of background.
Federal programs such as Health Resources and Services Administration (HRSA) scholarships and loans, the Department of Education income-driven repayment plans, and others can make educational debt more manageable. GradPLUS loans, offered by the Department of Education, allow nearly 50% of medical students to cover the full cost of attendance for medical school. After graduation, Public Service Loan Forgiveness (PSLF) and the National Health Service Corps (NHSC) help nonprofit and underserved facilities recruit physicians to care for vulnerable patient populations.
The AAMC is committed to ensuring medical education remains affordable and accessible for students from all backgrounds and provide a variety of information for applicants, students, and residents through its FIRST program. In addition, a growing list of medical schools are trying to reduce education debt for their graduates, including through targeting gifts towards financial aid, offering loan repayment assistance and reduced tuition in exchange for service, and exploring options for a shortened curriculum.