Scholarships, loans, fellowships, grants—you’ve got a lot of options when it comes to paying for college. The specific options available depend on many unique things—your background, your academic performance, your financial need, your program of choice and the field that you choose to enter, to name a few.
Scholarships are financial awards that are offered to students for various reasons, but most of the time these are merit-based, meaning they’re awarded based on academic ability or some other quality.
Loans are money you borrow with the intention of paying it back. If you’re considering loans, you might also consider service commitment programs and other other unique ways that health care professionals who have come before you have paid back loans.
Fellowships are generally short-term opportunities that focus on professional development. Fellowships generally provide a stipend that can help cover some life costs during your studies, but may not be enough on their own to cover all of your financial needs.
Grants are similar to scholarships—in fact, the terms are often used interchangeably. Most grants are need-based, though, so they’re awarded based on your financial need.