As colleges continue to raise their tuition fees each year, students might be desperate to find ways to alleviate the burden of higher education. According to the Education Data Initiative, the average federal loan is more than $37,000, which means more students might be turning to scholarships to lessen their loan payments.
While some lucrative scholarship programs are out there, like the Coca-Cola Scholars Foundation, D.C. Leadership 1000 Scholarship or the Buick Achievers, these scholarships tend to be incredibly competitive, with many applicants ultimately not awarded anything.
Luckily, many universities offer automatic scholarships for students. Unlike need-based scholarships, which are determined by a student’s financial circumstances, automatic scholarships are either granted to all students or are given to students who meet standardized test scores or GPA minimums. All students who meet the criteria are automatically given the scholarship, regardless of their financial need.
Automatic scholarships are mutually beneficial: students have to pay less for their education, and universities get to attract high-achieving students. Both private and public universities will offer these types of scholarships, which gives students the flexibility to find the best fit for them.
The amount of money will vary from institution to institution and can either be one-time awards or renewable annually, as long as the student continues to meet the minimum requirements.
A common misconception that some students have is that the Free Application for Federal Student Aid (FAFSA) will only help students get need-based aid. However, some merit scholarships require students to fill out the FAFSA, so check with the school’s financial aid office or website to determine eligibility requirements.
Specifically, for students pursuing BS/MD or BS/DO, there are some schools that offer automatic scholarships for students, helping to alleviate the financial burden of undergrad and medical school. As students continue to make their college list, they should consider automatic scholarships as well as any criteria to make sure they are eligible for these awards.
Direct Medical Programs That Offer Automatic Scholarships
These scholarships are subject to change. Confirm on each individual school’s website to review any updated information. Check out some of the schools in the full article on Forbes here.