Dear colleagues,
This year’s Kinloch Nelson, M.D., Student Honors Day was a wonderful way to celebrate our medical students’ academic achievement and to award spring semester scholarships. As names were called for the honor societies and Medical Student Government Awards, it was clear how hard our students work as they learn and grow into their roles as future physicians who will serve their communities.
Eleven scholarships are awarded to M4’s each spring based on a chosen specialty. These scholarships are bestowed after Match Day, just as students prepare to depart for training opportunities. These awards are part of our larger scholarship program, which has a significant impact on our students. A list of all awards and scholarships can be found HERE.
For more than 15 years, our medical school deans have devoted the full resources of the School of Medicine’s Annual Fund to supporting scholarships for students who demonstrate financial need and academic merit. What is raised over the course of a year is put to use the following fall.
To build a more permanent source of student aid, in 2013 the School of Medicine embarked on the 1838 Campaign. Named for our school’s founding year, the seven-year effort raised endowed scholarship funds. The campaign generated $28 million in new endowed scholarship funding, which created 78 new endowed scholarships and expanded 50 existing scholarships. As a result, the number of full or half-tuition scholarships at the medical school increased by 1200%.
We’re seeing the impact today: Overall medical student indebtedness has decreased by 13% to an average of $190,000, and the percentage of students with medical school debt is down to 65%. While still a large sum, our students’ debt has been lower than the national average in 2021, 2022 and 2023.
This year, we marked another milestone with a generous gift from James and Frances McGlothlin that enabled the medical school to provide more scholarship funding in the 2023-24 academic year than ever before in the history of the school. The McGlothlins' investment in the next generation of physicians and future leaders created full-tuition scholarships for the inaugural cohort of 12 McGlothlin Scholars.
We were also pleased this year to inaugurate a scholarship in honor of an esteemed colleague, Ralph “Ron” Clark III, M.D., who most recently served as Interim President of MCV Physicians and currently serves as Associate Dean for Clinical Activities and Chief Medical Officer for Ambulatory Care. The Ron Clark Distinguished Service Award recognizes a graduating medical student who exhibits outstanding dedication and engagement to serving both the VCU and broader Richmond community to enhance overall health and well-being.
Over the years, our scholarship program has been supported by thousands of donors including many of our faculty and staff. The Medical Philanthropy and Alumni Relations team guides donors in making gifts large and small that are put to use to not only relieve student debt but also, very importantly, to support our students in other ways. Many have commented that being awarded a scholarship is evidence that someone believes in them. That is a powerful encouragement during the journey of medical school.
I remain exceedingly impressed and proud of our students and their achievements. And I’m deeply grateful for your continued support in the future success of this next generation of physician leaders, researchers and compassionate caregivers. As Dr. Clark said following this year’s ceremony, “The world is in good hands.” Thank you!
