Debt Management

Deciding to attend medical school comes with a serious financial investment. It’s a decision many students make because they have a personal calling to become a physician. With a little preparation and planning, you can make wise choices and minimize your educational debt.

The vast amount information regarding debt management and personal finance can feel overwhelming to learn and apply. While the cost of medical school continues to rise, increasing the average amount of loans for medical school, it is no surprise that debt is a common source of stress among medical students, residents, and new physicians.

The Financial Aid Office at the University of Rochester School of Medicine and Dentistry is committed to providing useful information and resources on all aspects of debt management during your time as a student and after graduation. Furthermore, the Association of Medical Colleges offers a number of resources through their FIRST (Financial Information, Resources, Services and Tools) website.

In addition to the resources below, students are encouraged to schedule an appointment with the Financial Aid Office staff to discuss their personal situation, options, and plans.

• Resident Debt Management Handbook
• Education Debt Manager for Graduating Students
• MedLoans Calculator
• Debt Management through Good Record Keeping
• Grace, Deferment, and Forbearance
• Postponing Repayment During Residency
• Consolidation - Should I Consolidate?
• Consolidation - Pros, Cons, Steps and Timing
• Monthly Payment Estimator for Medical School Borrowers
• AAMC Debt Fact Card