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Understanding Financial Aid

• A-Z Reference List
  A list of tools and resources available on the FIRST Web site
  
  
• Glossary of Frequently Used Terms
  
  
• Layman's Guide
  The Layman's Guide to Education Debt Management for Residents and GME Staff is based on eight simple, yet proven steps for managing student loans.

Loan Repayment

• Repayment Options
  Commissioned Corps and U.S. Civil Service Scholarships and Loan Repayment Options
  
  
• Sample Repayment Examples
  Sample repayment examples based on $150,000 Federal Stafford Loan at the current interest rate
  
  
• The Economics of Becoming a Doctor (Flash Slideshow)
  A 40-minute, narrated presentation explaining the most common repayment strategies during residency. Includes information on the new programs Income-Based Repayment and Public Service Loan Forgiveness, and a discussion of the economics of earning an M.D. degree by following "Dr. Median" from medical school to retirement. Targeted to medical students, residents, and financial aid staff.
  
  
• Loan Repayment/Forgiveness Programs
  Extensive list of loan repayment and/or forgiveness programs.

Physician Compensation

• Modern Healthcare's 2009 Physician Compensation Survey (PDF)
  Salary data for physicians by specialty

For Financial Aid Officers

Financial Aid Officers must log in to the GSA website to access the following resources where indicated:
(Please contact Denine Hales, dhales@aamc.org, for your AAMC login information)

• IBR - NCHELP Link
  
  
• Lender Assessment Tool (AAMC login required)
  
  
• 2009 Exit Interview Presentation (AAMC login required)
  
  
• 2009 Entrance Interview Presentation (AAMC login required)
  
  
• Financial Aid Handbook (PDF)
  A resource for both new and experienced financial aid administrators.

For Pre-Health Advisors

• Financing Medical Education Presentation (PPT)
  You are welcome to download the presentation and use it and the speaker's notes for information sessions regarding financing medical education with pre-health/pre-med students. Feel free to add additional slides, but please refrain from editing, in any way, the slides copy written by the AAMC.

Podcasts:

• Loan Repayment Funds for Primary Care Doctors



• Public Service Loan Forgiveness — a Win-Win Opportunity
  


• Income-Based Repayment Effective July 1, 2009

Web Sites with Information Related to Debt Management and Financial Aid

• Credit Reports and Information on Credit
  Web site to access FREE credit report. Credit score can be added for a nominal fee.
  
  
• Government Affairs - Education
  AAMC Web site highlighting topics, issues and legislation of importance to medical schools and teaching hospitals.
  
  
• Income-based Repayment Q & A
  

Tax

• Tax Benefits for Education
  

Interest Rates

• Current FFELP and DL Borrower Interest Rates
  
  
• Interest Rate History Chart
  
  
• Bankrate.com
  Interest rates for all types of consumer loans.

Department of Education

• NSLDS
  National Student Loan Data System
  
  
• FAFSA
  Federal Student Aid

FIRST Print Publications

FIRST brochures are available to order for AAMC member schools. Please note that FIRST brochures come in packs of 20 (i.e., an order for "2" equals 40 brochures).

• AAMC Monthly Payment Estimator for Medical School Borrowers (PDF)
  This chart displays four repayment plans, with monthly payments based on a range of debt amounts, showing total repayment amounts and total interest paid for each amount.
  Order this publication
  
  
• Loan Repayment Timeline: Class of 2009 (PDF)
  Illustrates use of deferments, forbearance and repayment options for multiple loans.
  Order this publication
  
  
• Medical Student Education: Cost, Debt, and Resident Stipend Facts (PDF)
  Order this publication
  
  
• Education Debt Manager (PDF)
  This brochure provides step-by-step, common-sense strategies for managing debt.
  Order this publication
  
  
• Education Debt Management for Residents (PDF)
  This brochure describes the resources, services, and tools available to residents from FIRST.
  Not available to order