University of California, Irvine

Office of Financial Aid and Scholarships

Federal School Code 001314

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Debt Management and Financial Literacy

The school of Medicine Financial Aid Office provides students with a series of debt management and financial literacy presentations. These presentations were conceived to assist students with the management of their educational debt and to expand their education outside of the classroom in regards to teaching them elements of personal finance. We also provide sessions designed to help ease the transition to and from medical school.

Presentations are generally in-person and are presented by the financial aid office staff and/or experts in the field. Medical students are counseled on debt management from their initial orientation and continue through their medical school career.

Every year the School of Medicine Financial Aid Director develops an online survey to assess students’ debt awareness and financial literacy. The results of this annual survey are used to custom tailor the group or one-on-one presentations for the upcoming year. The following topics are currently being offered to all medical students in the 2019-20 year:

  • Money Management for Entering Medical School Students
  • Budgeting for MS1 students
  • Budgeting for MS2 & Step 1 costs
  • Budgeting for MS3 & Step 2 costs
  • Budgeting for MS4 & Residency Interview costs
  • Loan Forgiveness Options
  • Transitioning from Medical School to Residency
  • Repaying Student Loans (basics)
  • The Cost of Applying for a Medical Residency
  • How to Manage Student Loans During Residency
  • Repayment Strategies for Graduating Medical Students

The Financial Aid Office has partnered with CashCourse to provide online workshops on various debt management and financial literacy topics where students can get access to important information 24/7. CashCourse was developed by the National Endowment for Financial Education (NEFE) specifically to help college students with resources that can help them obtain money management skills.

The Financial Aid Office has also partnered with the Association of American Medical Colleges (AAMC) to use their resources. We refer students to the AAMC's website to utilize their Financial Information, Resources, Services and Tools (FIRST) program which provides free resources to help medical students make wise financial decisions.

Also, through the AAMC's Financial Wellness program, medical students have access to multiple articles, tools and calculations to help them on their road to financial wellness! Medical students can set up an account to start viewing these financial resources at https://aamcfinancialwellness.com. To learn more about the AAMC's Financial Wellness Program, medical students are encouraged to watch the following recorded video.

(Last reviewed 12/10/2019 - LM)

 

Hours: 8am to 5pm, Monday to Friday
836 Medical Education Building, Irvine, CA 92697-4089
Tel: (949) 824-6476
Fax: (949) 824-1014
Email: cmfao@uci.edu

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About UCI
 
The State of California requires that you be told the following:
Federal student loans are available to most students regardless of income and provide a range of repayment options including income-based repayment plans and loan forgiveness benefits, which other education loans are not required to provide.