The American Medical Association (AMA) Foundation has made it a priority to assist medical students in handling the rising cost of medical education. The Physicians of Tomorrow Awards were created in 2004 to provide financial assistance to medical students facing spiraling medical school debt. On average, medical students in the U.S. graduate with a debt load of nearly $162,000. A large debt burden may deter many from practicing in underserved areas of the country or practicing primary care medicine. To date, over 1 million has been granted to exceptional medical students across the nation.
These $10,000 scholarships reward current third-year medical students/individuals who are approaching their final year of medical school. At least two different scholarships, funded by various organizations, will be awarded in 2013. The number of recipients is determined after all applications have been received. Typically, 8-12 recipients in total are selected. Each medical school can nominate one person for each of the different scholarship opportunities (2 nominees in total). Each scholarship category takes into consideration academic excellence and financial need.