Repayment Plan Options and Projections
The Association of American Medical Colleges (AAMC) has a variety of financial information and resources for medical students. The COM OSFA strongly recommends that you use the MedLoans Organizer and Calculator (MLOC) to track your loans and project repayment scenarios in the future, both during and after residency.
Watch this video for instructions on how to use the MedLoans Organizer and Calculator (MLOC).
Financial Wellness Program
To successfully repay your student loans, you must be able to budget your monthly expenses effectively. Through the financial wellness program, our office encourages best student loan borrowing practices.
- The Association of American Medical Colleges (AAMC) personal finances includes budgeting basics and a fillable Monthly Budget Worksheet
- With the AAMC Financial Wellness program, account holders will have free access to financial calculators, articles, and videos to create a budget, track spending, create financial goals, and enhance your knowledge about credit, financial planning, money management, and more.
- New webinars and videos can be found on FIRST’s webpage at www.aamc.org/videowebinars and FIRST’s YouTube channel. If you have any questions, reach out to [email protected].
- Credit History Awareness
- You should monitor your credit, as your credit history can affect your ability to own a home and get a job. Request a free credit report annually from each of the three major credit bureaus. Request your credit report at www.annualcreditreport.com. The free reports are part of a national program to help consumers protect their identity and personal information.
Loan Repayment Programs
Some service programs will repay your student loans on your behalf in exchange for a service commitment. View the HRSA Funding page for more information.