The WCI Medical School Scholarship

WCI Medical School Scholarship

We’re very grateful for the financial success that The White Coat Investor has seen. Although WCI has always been a for-profit business, its primary purpose is to “help those who wear the white coat get a fair shake.” The White Coat Investor Medical School Scholarship is a way for the entire WCI community to “pay it forward.” This community includes blog readers, podcast listeners, Facebook Group and WCI Forum members, WCI redditors, sponsors, staff, and owners. The scholarship has no endowment fund so the scholarship money is raised anew every year. The purpose of the scholarship is to directly reduce the indebtedness of a few students and to promote financial literacy in professional schools.

Application Information

Who Can Apply?

Only professional students enrolled full-time in a professional school located in the United States who are verified to be in good academic standing are eligible. That means medicine, osteopathic medicine, podiatry, dentistry, law, pharmacy, optometry, physician assistant, nurse practitioner, CRNA, anesthesiologist assistant, or veterinarian. We will also consider physical therapy and occupational therapy students if the program leads to a doctorate degree.

• No online schools (brick and mortar only).
• No undergraduates.
• If you have already received scholarships equal to or greater than the cost of tuition at your school, you are not eligible.
• No residents, even if you’re a dental resident paying tuition. Students only.

What Does an Application Consist Of?

You will need to fill out the application, which will ask for your name, school, email address, and similar information. You will then be required to submit an 800-1,200 word essay written in English. The word count is STRICTLY enforced. If you are over or under the word count, your essay will be disqualified. You may not attach a Word document. It must be pasted directly into the application. Emailed submissions will not be accepted. If you win, your essay will be published on The White Coat Investor blog. Submitting an application is considered your agreement to having your essay published along with your name and picture. No anonymous entries.

Essay Topic

Applicants should submit an original essay that is personal, engaging, and reflective of their own life and/or journey through medical or other professional school. Strong essays often share meaningful stories about family, background, challenges, or experiences during training. Because The White Coat Investor focuses on financial education, essays that thoughtfully include a financial angle, such as lessons learned, creative ways to manage money during school, or practical financial tips, often resonate with judges and readers alike. We are looking for essays that are inspiring, interesting, authentic, and, when appropriate, even humorous. See All Rules/FAQ

Rules/FAQ

When Can I Submit My Application?

The application period opens on June 1. The final date for submission is August 31. Don’t procrastinate.

What Should I Write About?

Inspiring Stories are true stories about you, your family, and your background; why it has led you into your profession; and how it will affect your career. Perhaps the essay details an experience that happened to you in school that others would find humorous, interesting, or inspiring. Extra points will be given if there is a financial component to your essay. Judges will be instructed to give some credit for the quality of the writing. The better the writing, the better your chance to win. Remember, your essay must be between 800-1,200 words. Too many or too few, and we’ll just throw it out.

Can I Submit Anonymously?

No. Your name and photo will be published along with your essay if you are selected as one of the 10 winners. If you do not feel comfortable with that, don’t apply for the scholarship. No exceptions.

How Can I Help Spread the Word?

Please download and post our flyer and email it to everyone you can think of! Scholarship Flyer

When Will the Winners Be Announced?

The winners will be announced in October on The White Coat Investor blog, although they will find out the week before when they are asked to send us a headshot picture. We’ll also send out an email to all applicants to let them know the winners. Your email will be used to sign you up to get the monthly WCI Newsletter. (Don’t worry: it’s free and you can unsubscribe at any time. But if you unsubscribe from everything we send you, you won’t get that email announcing the winners.)

How Does the Selection Process Work?

You can be assured that if you do not follow the directions contained on this page, you will not be selected as a finalist. English. Proofread. 800-1,200 words. If you are chosen as a winner, we will verify your attendance and good standing. There will be three rounds of judging. WCI staff will not be doing any of it. WCI readers and listeners who volunteer to judge will be randomly assigned to their essays.

How Much Cash Has Been Raised So Far?

This page will be updated as the contest goes on to let you know the current size of the grand prize pot. The more readers and listeners who donate, the larger the scholarship will be. Currently, the total raised is $54,901.50 in cash, plus prizes. Over the last 10 years, we have given away a total of $600,661 in cash, plus tens of thousands of dollars in prizes.

Is the Prize Money Taxable?

It depends on how the winners use the money. Generally speaking, a scholarship or fellowship is tax-free if you are a degree candidate and if the award is used to pay for tuition and required fees, books, supplies, and equipment. However, there are some scholarship and fellowship opportunities that are not tax-exempt. Any amounts used to pay for room and board and a stipend for living expenses are taxable. If you received a taxable scholarship or fellowship that was not reported to the IRS on a W-2 or 1099 form, you are required to include it on line 7 and write “SCH” to the left. If you report taxable scholarship or fellowship income in this fashion, it is wise to attach an explanatory letter to your return, especially if you exclude any required educational expenses.

How Can I Volunteer to Be a Judge?

We expect hundreds of submissions, and since the WCI staff won’t be doing any screening to eliminate bias, we’re going to need a lot of judges. If you are a working or retired professional (no students or residents) and would be willing to read and rank several 1,000-word essays in a timely manner at some point in September, please send an email to [email protected] with the words “Volunteer Judge” in the subject line. You’ll have a few days for the task but not a few weeks. If you discover you cannot fulfill this duty at any point, please advise us ASAP so we can find someone else.

Are My Donations Tax-Deductible?

Neither The White Coat Investor nor the scholarship is a registered charity, and donations are not deductible as a charitable contribution. Donations may be deductible to you as a business expense, however.

How Can I Contribute?

Contributions are made most easily via PayPal to [email protected] (use the “send money to friends and family” option to maximize your contribution). You can also send checks to: Scholarship Fund The White Coat Investor, LLC P.O. Box 520421 Salt Lake City, Utah 84152-0421 or just use this handy button to contribute. Donate The entire amount donated will be given to the winning applicants. We cover all the expenses of administering the scholarship.

What Do Corporate Sponsors Get for Sponsoring the Scholarship?

Aside from knowing you are helping The White Coat Investor, LLC to fulfill its important mission, each successive level of sponsorship comes with more perks (primarily advertising benefits). If you are interested in becoming a Platinum, Gold, or Silver level sponsor, contact [email protected] for details. You will notice some sponsored posts on the blog during the summer as part of the Platinum sponsorship package.