WOONSOCKET, R.I. — To support the next generation of pharmacists, CVS Health has announced two new offerings for pharmacy students: an enhanced PharmD tuition assistance program for eligible CVS Pharmacy interns and a new scholarship for students enrolled in pharmacy schools nationwide.

The CVS Health PharmD tuition assistance program is available to all eligible CVS Pharmacy interns and consists of a $20,000 award per year. The new CVS Health/American Association of Colleges of Pharmacy (AACP) Community Pharmacy Health Equity Award will grant $20,000 to 21 outstanding student pharmacists who face financial barriers in their pursuit of education.

“As leaders in community pharmacy, we are committed to investing in the future of pharmacy, particularly to support the next generation of students with financial assistance and hands-on experience necessary to further their careers,” said Prem Shah, executive vice president and chief pharmacy officer for CVS Health and president of pharmacy and consumer wellness. “We recognize the strong, enduring bond between pharmacists and the communities they serve. ”

As outlined in “The Rx Report: The Future of Community Pharmacy Opens Doors to Healthier Communities,” pharmacy school applications have decreased by more than 60% in less than a decade. With an increasing need for community pharmacists nationwide, it is more important than ever to increase exposure to the profession and to grow and stabilize the volume of future pharmacists.

This summer, 2024 PharmD graduates who intern with CVS Pharmacy as of April 30, 2024, can apply for up to $20,000 towards their final year of tuition. In the fall, the program will be expanded to CVS Pharmacy interns in their final two years of pharmacy education, with $20,000 available for each year while working as an intern for CVS Pharmacy. Recipients will participate in a more flexible learning program with year-round opportunities to enhance their ability to obtain experience before starting their post-graduate professional career in pharmacy.

In collaboration with the American Association of Colleges of Pharmacy and the CVS Health Foundation, the Community Pharmacy Health Equity Award promotes diversity of thought, background, perspective and experience to advance pharmacy education and improve patient health. The scholarships are intended to promote and support a population of student pharmacists who will care for an increasingly diverse population of patients as part of a health care team.