Medical school is the most expensive type of school you could go to. Getting through it is the toughest thing you will ever hope to accomplish. The second hardest thing you will do is find a way to pay for it. If you could find a way to pay zero money for a medical school education would you take it. Obviously, you will have to pay for this education but you won’t have to use money.
Most medical school educations can cost you in the upwards range of $200,000+. It is possible for some else to foot the bill and you can stay debt free. There are scholarships that award smaller amounts of money and have no strings attached but a complete free ride to medical school will require a large commitment back in your time.
The U.S. military offers in their Health Professions Scholarship Program (HPSP) that if you are accepted to medical school and join the military the entire bill is on them.
If you land the Health Professions Scholarship Program (HPSP), the military will pay for your entire medical school education at a private or public medical school, pay you a $20,000 signing bonus, and pay you a $2,000/month stipend. Some people call it “military medical school,” and there are HPSP scholarships programs for the Army, Navy, and Air Force.
You will have to pay back for every year of medical school, one year of service in the military. If you go to school for 6 years then you have to give 6 years to the military.
By choosing to practice in the active Army, you’ll receive a comprehensive benefits package that includes a competitive salary and financial incentives such as medical school loan repayment. In addition, you will practice in an environment free of overhead and malpractice insurance costs, and receive low-cost or no-cost medical, dental and life insurance, generous retirement plan options, housing allowances and 30 days of paid vacation earned annually. You’ll also enjoy a reasonable work-life balance that provides plenty of time for family and recreational pursuits.
If you are working to complete an accredited residency, you may be eligible to receive an annual grant of more than $45,000 plus a monthly stipend of more than $2,000. Open to U.S. citizens.
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