The following scholarships, prizes and awards are available.
| Scholarship Offered | Awarded For | Value |
| Deakin Accommodation Scholarship | For accommodation expenses to students from rural backgrounds able to demonstrate financial disadvantage - based on academic merit. | $8,000 |
| Coltman Equipment Awards | Award for purchase of equipment, including a laptop computer. Awarded to financially disadvantaged applicants based on academic merit. | $1,500 |
| Medical Rural Bonded Scholarship | Awarded to students bonded to practise in a rural or remote region for six years. | $25,013 (tax free) |
| Dr Gilbert M Davis Award | Awarded to students able to demonstrate financial hardship to support relocation or accommodation costs. | $1,000 |
| The Doctor George Golding Memorial Award | Awarded to a student who was educated in the Geelong region who intends to return to the region to practise medicine - based on academic merit and equity. | $5,000 |
| The Williamson Family Award in Medicine | Recipient will be a second year Bachelor of Medicine Bachelor of Surgery student who has successfully completed Year 1 of study in the previous year and has achieved the highest Year 1 aggregate mark. | $2,000 |
Further scholarship information is available from the Future Students website.