Personal Finance

Medical school education begins with learning the basics of science and medicine. By the end of your second year of medical school, you’ll be preparing for the (USMLE) STEP1. Similarly, it’s never too early for future physicians to prepare for and learn the basics of personal finance and debt management. These basics are much easier to understand than pathology and anatomy—yet, changing habits and making decisions based on those personal finance basics can be the real challenge.

The Financial Aid Office at the University of Rochester School of Medicine and Dentistry is committed to providing useful information and resources on personal finance 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.

• 10 Tips for Managing Your Money During Medical School
• 10 Tips for Managing your Money During Residency
• Budgeting Basics
• Budgeting - Interactive Worksheet
• Mint.com - Online Budgeting Tool
• Easing into Residency
• Living on a Resident Stipend
• Understanding Your Credit Report and Score
• Making a Big Purchase
• Identity Theft - What to know
• ID Theft Recovery Action Plan