Debt Management

//Debt Management
Debt Management2018-11-09T16:04:44+00:00

Debt Management

A medical education is a large investment and often comes with significant student loan debt. You must prepare now so that you are able to successfully manage your student loan repayment after school.
The links below provide information and tools to help you manage your finances during and after medical school.
In addition, the Association of American Medical Colleges (AAMC) has a variety of financial information and resources for medical students. Visit their FIRST (Financial Information, Resources, and Tools) site.  The COM OSFA strongly recommends that you use the Medloans Organizer and Calculator. It’s a great tool to track your loans now and to project repayment scenarios in the future, both during and after residency.
Monitor Your Credit
Learn to Budget
Loan Repayment
OSFA Presentations
Money Matters Webinar Series
Loan Forgiveness

Monitor Your Credit

You should monitor your credit, as your credit history can affect your ability to own a home and get a job. You can request a free credit report annually from each of the three major credit bureaus. Request your credit report at The free reports are part of a national program to help consumers protect their identity and personal information.
Credit reporting agencies will charge you a small fee for additional copies of your credit report after you receive your free report. These fees will vary from approximately $6 to $12. Thus, you should contact the credit reporting agency to verify the fee before you request additional copies. You can pay the fee by check or money order made payable to the company from which you are requesting the credit report or provide payment over each bureau’s secure web site. You are also entitled to a free copy of your credit report if you have been denied credit, employment, or insurance within the past 60 days.  
 Major National Credit Reporting Agencies
Address PO Box 1000 PO Box 740241 PO Box 2002
City, State, Zip Chester, PA 19022 Atlanta, GA 30374 Allen, TX 75013
Phone Number (800) 397 – 3742 (800) 685 – 1111 (888) 397 – 3742

Learn to Budget

To successfully repay your student loans, you must be able to budget your monthly expenses effectively. The Association of American Medical Colleges (AAMC) has teamed up with SALT to help you own your personal finances.  Create a free account with SALT.

Use the fillable Monthly Budget Worksheet available through SALT to help assist with budgeting your expenses.

Loan Repayment Programs

Some service programs will repay your student loans on your behalf in exchange for a service commitment.  See the Service Awards page for more information.

OSFA Presentations and Workshops

The links below provide recordings and powerpoints covering a range of topics to help you manage your finances during and after medical school.

In this workshop, representatives from the USFSCO Student Money Management Center and the Office of Student Financial Aid cover information regarding effects of budgeting and credit on your financial aid, student loan debt, and future.

Credit and Budgeting Workshop – Youtube Video, July 30th, 2013

Make a Budget Appointment

Session Handouts

Helpful Links

Money Matters – Webinar Series

UIC College of Medicine Office of Student Financial Aid and USFSCO Student Money Management Center has teamed up to present mini-webinar series called Money Matters.
The webinar series covers topics such as credit, scholarships, building a budget and choosing a financial professional.

We aim to empower YOU with the necessary financial tools and resources YOU will need for a successful future.

Public Service Loan Forgiveness (PSLF) Program

FedLoan Servicing hosted a webinar for medical/health profession students that provided an overview of the Public Service Loan Forgiveness (PSLF) program.

Topics covered included:

  • Eligibility requirements
  • Eligible Public Service Organizations
  • Repayment Options; and Employment Certification.

You can listen to the webinar recording here.

If you wish to reach out to FedLoans , visit[/fusion_text]