As a medical student, resident, fellow, or even as an advanced practice provider, your journey to become a practicing physician has been marked by years of intense study, long hours, steadfast dedication – and, unfortunately, often significant financial challenges. Between tuition fees, living expenses, certification costs and the looming burden of educational debt, aspiring physicians often find themselves struggling to make ends meet. 

Recognizing these challenges, PracticeLink, a leading career advancement resource for physicians and home of the most widely used physician job board, is introducing a new initiative designed to help support aspiring physicians – such as yourself – financially and help alleviate some of the pressure you may face. 

This initiative is called First Practice Fund.

What is First Practice Fund?

First Practice Fund is a biannual program aimed at providing financial support to medical students, residents and fellows, ensuring you have the resources you need to focus on your education and career goals. 

By offering $2,500 to one winner in each of the following categories—Internal Medicine, Hospital-based Medicine, Primary Care, Rural Medicine (for participants in ACGME-accredited Rural Training Tracks), Medical Students and Advanced Practice Providers—we hope this program serves as a much-needed lifeline for those in the medical field who are working hard to shape their futures.

Applications for the scholarship opened March 30, 2025, coinciding with National Doctors’ Day, and will remain open until May 15, 2025. Winners will be announced by June 16, 2025.

Why is First Practice Fund important?

For most, the path to becoming a physician is paved with significant financial hurdles. According to the Association of American Medical Colleges (AAMC), as of October 2023, 70% of medical students are burdened with educational debt, with the average debt reaching a staggering $200,000. Beyond this, many residents and fellows are also required to cover certification, licensing fees and other career-related expenses that add to financial burden.

The First Practice Fund program is designed to ease some of this stress by offering financial awards that can be used to cover your educational costs, living expenses or other essential needs during training. PracticeLink wishes to act as your valuable and long-term partner throughout your job-search and career journey as a physician, which falls in line with our organization’s steadfast commitment to supporting healthcare professionals at every stage of their careers.

What are the evaluation criteria and eligibility requirements?

  • Evaluation Criteria: Submissions will be evaluated based on professionalism, interpersonal skills and career goals. 
  • Eligibility Requirements: To apply for First Practice Fund, applicants must meet the following criteria:
    • Must be currently enrolled in an accredited US-based medical school or ACGME-accredited residency program.
    • For residents and fellows, applicants must have an active PracticeLink account and use the same email address as their account to apply for the First Practice Fund.
    • Winners are responsible for any applicable tax obligations.
    • By entering the program, applicants consent to the publication of their name and photo on various PracticeLink platforms, as well as portions of their submission.

If you’re eligible, don’t miss out on the opportunity to apply for this incredible program. The future of medicine starts with you! Let PracticeLink’s First Practice Fund be a part of your journey.

Apply now by clicking here!

Read more about First Practice at FirstPractice.com or by clicking here.