Medical Student Financial Wellness
Our Financial Wellness curriculum provides resources or budgeting, debt management and financial planning. Participate in webinars, professional lectures, one-on-one counseling, and other events to help make informed decisions regarding your financial well-being.
Year 1
Many medical students focus their initial efforts on getting into and succeeding in medical school and leave the issue of how to pay for it for some later date. The financial decisions you make now, however, will impact the amount of debt you graduate with and the number of years of your professional career it will take to pay off your student loans. And the less debt you graduate with, the more options you will have when you start your career.
Year 1 is a good time to learn to borrow wisely, develop debt management skills, and become familiar with resources available to you.
Financial Aid Information Sessions
Prior to matriculation, incoming medical students are strongly encouraged to participate in financial aid information sessions, which include information on Federal Direct Loans, Borrer Rights & Responsibilities, the Cost of Attendance, Budgeting, Averaged Debt, Repayment Estimates, AAMC Financial Wellness & FIRST resources, and Refunds. Housing, and Parking at UND.
Students who receive federal student loans must fulfill the Federal Direct Loan entrance counseling and promissory note requirements prior to aid disbursing.
Schedule Your Financial Aid Counseling
Jane Thorvilson
701.777.2849
jane.thorvilson@UND.edu
Education Debt Manager for Matriculating Medical Students
We recommend all incoming medical students download and review the AAMC Education Debt Manager for Matriculating Medical School Students. It is designed to help students navigate the complexities of medical student debt.
Financial Aid Basics
A mandatory presentation on medical student financial aid at SMHS for first-year students during Introduction to Medicine week.
ACHIEVE Session
A mandatory presentation on Budgeting & SMART Money Goals, with an introduction to the AAMC Financial Wellness program.
Walk-Ins & Student Appointments
Students are encouraged to stop by with any financial aid or financial wellness questions they have. Individual appointments can also be schedule for in-person or virtual meetings.
AAMC FIRST for Students
The AAMC website is designed to help medical school students expand their financial literacy skills, make smart decisions about student loans, and manage their debt wisely.
To access resources and information log into your AAMC student account. You'll use the same log-in and password that you used for registering for the MCAT or submitting your primary application for medical school.
AAMC Financial Wellness
A free, online financial education resource provided by the AAMC to help students, residents, and practicing physicians increase their financial literacy and become more financially savvy.
Year 2
Students are encouraged to continue working on smart borrowing and budgeting, while also planning for the future. This a good time to think about saving for upcoming expenses, such as the USMLE Step 1 exam, moving expenses in Year 3, and unforeseen emergencies so that you can stay on track with your budget and plan for the future.
ACHIEVE Session
A mandatory presentation on Saving & Investing, with resources and online calculators to help students as they financially plan for their future.
Transition to Clinical Years
A mandatory town hall style meeting where information on the costs associated with the clinical years is provided and students can ask questions on what to expect as they begin clerkships.
Walk-Ins & Student Appointments
Students are encouraged to stop by with any financial aid or financial wellness questions they have. Individual appointments can also be schedule for in-person or virtual meetings.
AAMC FIRST for Students
The AAMC website is designed to help medical school students expand their financial literacy skills, make smart decisions about student loans, and manage their debt wisely.
To access resources and information log into your AAMC student account. You'll use the same log-in and password that you used for registering for the MCAT or submitting your primary application for medical school.
AAMC Financial Wellness
A free, online financial education resource provided by the AAMC to help students, residents, and practicing physicians increase their financial literacy and become more financially savvy.
Year 3
As students continue with clerkships and start thinking ahead to the costs associated with away electives, residency applications and interviews, planning and budgeting for these expenses is so important!
AAMC Webinar
A mandatory webinar on the costs of applying to residency, financial aid resources that may be available, and tips to help you save money through the process.
Campus Visits
Twice a year, financial aid staff make campus visits for optional one-on-one appointments to assist you with your financial wellness and help with any financial aid questions students have.
Phone & Virtual Appointments
Students can always call with any financial aid or financial wellness questions they have. Individual appointments can also be scheduled for phone or virtual meetings.
AAMC FIRST for Students
The AAMC website is designed to help medical school students expand their financial literacy skills, make smart decisions about student loans, and manage their debt wisely.
To access resources and information log into your AAMC student account. You'll use the same log-in and password that you used for registering for the MCAT or submitting your primary application for medical school.
AAMC Financial Wellness
A free, online financial education resource provided by the AAMC to help students, residents, and practicing physicians increase their financial literacy and become more financially savvy.
Year 4
This is a busy time for students—elective clerkships that may require travel, residency applications and interviews, and preparations for graduation. In the midst of all this, it’s time to start planning a strategy for repaying your student loans.
HOST
The Office of Alumni & Community Relations offers a HOST Program (Housing our Students as they Travel). The program matches UND SMHS alumni across the country with fourth-year medical students traveling for residency interviews to save them lodging costs.
AAMC Webinar
A mandatory webinar for indebted students on loan repayment. This in-depth webinar provides detailed information to help graduating students prepare to enter repayment and successfully fulfill their loan obligations. Campus visits follow this webinar where students have the option to schedule one-on-one appointments to discuss their loan repayment questions and strategies.
Campus Visits
Twice a year, financial aid staff make campus visits for optional one-on-one appointments to assist you with your financial wellness and help with any financial aid questions students have.
Dean's Colloquium
A mandatory presentation on financial planning for the future. This session is designed for graduating medical students as they transition to residency training.
Phone & Virtual Appointments
Students can always call with any financial aid or financial wellness questions they have. Individual appointments can also be scheduled for phone or virtual meetings.
AAMC FIRST for Students & Residents
Continue utilizing the AAMC FIRST website to help expand your financial literacy skills, make smart decisions about student loans, and manage your debt wisely. As you prepare for and enter residency, you can continue to utilize the AAMC FIRST Resources.
AAMC STUDENT ACCOUNT
AAMC Financial Wellness
A free, online financial education resource provided by the AAMC to help students, residents, and practicing physicians increase their financial literacy and become more financially savvy.
Exit Loan Counseling
All graduating medical students with federal student loan debt are notified by UND of their exit loan requirements and information on completing this requirement.