Debt Management

Top 10 Free Medical Schools: Graduate Debt-Free

Statistically speaking, 73% of medical school students graduate with educational debt, with the average student owing a staggering $250,995.

For medical students, paying off tuition is the main reason for picking up a student loan.

Luckily, many medical schools now offer financial aid programs that allow you to graduate while not having to pay tuition.

We’ve researched every tuition-free medical school in the country and covered the best ones in this article.

Top 10 Free Medical Schools at a Glance

10 Free Medical Schools to Consider

While multiple medical schools claim to offer a free education journey, here are 10 that are truly worth considering:

1. Johns Hopkins University School of Medicine

Thanks to Michael Bloomberg, you can now attend one of the finest colleges, ranked 9th in the list of Best Colleges in National Universities, 2024 edition, for free.

The billionaire recently contributed a huge sum to Johns Hopkins, which paved the way for students to cut or even skip tuition expenses.

Starting in the fall of 2024, Johns Hopkins University will provide full-ride financial aid packages to medical students whose families make less than $175,000.

These packages will cover all college costs, including tuition, living expenses, and other fees.

If your family earns more, don’t stress. The university also provides full-tuition scholarships to students from households earning less than $300,000.

Given that Johns Hopkins Medical School usually charges $64,665 a year, we believe it’s still a good deal.

2. David Geffen School of Medicine at UCLA

You can find plenty of financial aid options at the David Geffen School of Medicine (DGSOM) at UCLA, which is something we truly appreciate.

As of this moment, it has reached an impressive rate, with 89% of medical students at this university receiving medical school scholarships.

Some of DGSOM’s aid programs are based on financial need, while others are merit-based.

So, we recommend reviewing their types of financial aid to see what’s best for you.

There are a variety of options available, including full-ride scholarships, full-tuition scholarships, and affordable loan plans.

3. Cleveland Clinic Lerner College of Medicine

Do you aspire to be a physician investigator? You can now achieve that goal without paying a dime by enrolling in the Cleveland Clinic Lerner College of Medicine (CCLCM).

In 2002, Cleveland Clinic joined forces with Case Western Reserve University to establish CCLCM, one of the most academically successful non-profit colleges of medicine.

Every year, this college welcomes 32 students per class, all of whom get full tuition scholarships.

If you get accepted, you’ll have the opportunity to spend five years there and graduate with an MD degree with a Special Qualification in Biomedical Research.

So, if you’re looking to enter the clinical care and research industries, we suggest you enroll in CCLCM, as this 5-year program might be one of your wisest choices, considering that physician investigators are now estimated to earn between $199K and $372K per year on average.

4. Uniformed Services University F. Edward Hébert School of Medicine

One of the unique approaches to managing medical school debt is resorting to U.S. military educational programs.

Our preferred direction in this regard is to apply to the Uniformed Services University (USU) F. Edward Hébert School of Medicine.

That’s not only because it offers free tuition, but also because you’ll receive a full salary throughout your four years of education, among other appealing benefits.

At USU, you’re regarded as a uniformed officer.

This makes you eligible for several perks that include housing allowance and free medical care for you and any qualifying members of your household.

Once you graduate, you’ll be promoted to rank O-3, Captain in the Army/Air Force, and Lieutenant in the Navy/Public Health Service.

This comes with a certain cost: following graduation, you’ll have to serve seven years of active duty service.

Your role during these years will be determined by the training you acquired and the military’s current demands.

5. Vagelos College of Physicians and Surgeon

Columbia University Medical School was renamed in 2018 to honor Dr. P. Roy and Diana Vagelos’ $300 million donation.

Luckily for medical school students, half of this donation went directly toward scholarships.

We’re talking about the world’s 5th best medical school for 2024, as well as one of the most expensive ones, so that was incredible news!

Since the grant, Vagelos College has continued to provide full-ride scholarships to students whose families earn less than $125,000 per year.

For non-eligible students, there are still some viable financial aid solutions worth looking at.

6. New York University Grossman School of Medicine

New York University (NYU) Grossman School of Medicine is considered one of the cheapest medical schools in the private sector.

This is mainly because all students enrolled in the medical program are eligible for a full tuition scholarship.

Typically at NYU, you’ll still be required to pay the cost of attendance. It can range up to $30,000, give or take, depending on each academic year.

However, not so long ago, they created a debt-free scholarship in which students who demonstrate financial need are eligible for full-ride.

7. Albert Einstein College of Medicine

At the beginning of 2024, Albert Einstein College of Medicine became one of the tuition-free medical schools thanks to a generous donation from Dr. Ruth L. Gottesman.

All medical students attending this school are entitled to a tuition-free education, without any restrictions whatsoever.

To ensure that your living expenses are covered as well, make sure to complete the Free Application for Federal Student Aid (FAFSA) while applying.

If you tick all the boxes for financial aid, you’ll be able to get in with zero expenses.

8. Stanford University School of Medicine

One of the most prestigious medical schools, Stanford University School of Medicine, happens to offer a diverse range of financial aid options to help the majority of medical students.

Stanford University provides conventional aid options, such as merit-based or need-based scholarships, grants, and loan management programs.

However, what truly sets them apart is their Knight-Hennessy Scholars Program.

This initiative awards full-ride scholarships to 100 students pursuing any educational degree at Stanford, including Master’s and PhD programs at the School of Medicine.

It not only covers tuition and living expenses but also includes other benefits, like getting a travel allowance for one annual trip to and from Stanford.

You should note that the Knight-Hennessy Scholars Program primarily targets students with exceptional intellectual abilities rather than merit, financial necessity, age, etc.

Still, there are a few eligibility requirements that you should go through before applying.

9. Duke University School of Medicine

Although Duke University offers several scholarships, only one can get you in for free.

That’s the Rauch Family Leadership Scholarship, which is merit-based.

As long as you remain in good standing, this scholarship will cover all your expenses until you graduate.

The not-so-bright side of the Rauch Scholarship is that it’s only awarded to one student each year.

But, considering it’ll get you into one of the highly-ranked universities in the U.S., it’s certainly worth a shot.

10. Weill Cornell Medicine – Cornell University

Weill Cornell Medicine is another excellent school to attend if you want to reduce or eliminate student debt.

Because of significant donations, it was able to provide full-ride scholarships rather than loans to all students qualifying for financial aid.

Non-eligible students might still receive grants, decent loan plans, and monetary assistance when participating in extracurricular activities such as summer research.

Wrapping Up

Due to high competition, it can be challenging to successfully apply for a tuition-free medical program.

Despite this, it’s important not to give up.

Sometimes the process can be long and exhausting, and it ends with a rejection, while other times, it may start you off on a free educational journey.

So, apply to as many colleges as possible, and hopefully, your application will be successful for at least one of them.

If you need further advice on how to manage your finances throughout your medical career, make sure to contact us; we’ll be happy to help!