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 Educational Debt Management for Residents and GME
Staff is based on eight simple, yet proven steps for managing student
loans.
Current FFELP and DL Borrower
Interest Rates
Loan Consolidation Primer
To help medical school borrowers determine if loan consolidation is an
option they should pursue.
National Student Loan Data
System (NSLDS)
The U.S. Department of Education's database for federal student aid
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.
Web Sites with Answers on Debt Management and Financial Aid
Credit Reports and information on credit
www.annualcreditreport.com
Web site to access FREE credit report. Credit score can be added for a nominal fee.
Free Application for Federal Student Aid (FAFSA)
www.fafsa.ed.gov
Start here to apply for federal student aid.
Interest Rates
www.bankrate.com
Interest rates for all types of consumer loans.
Loan Repayment/Forgiveness Programs
www.aamc.org/stloan
Extensive list of loan repayment and/or forgiveness programs.
Government Affairs -
Education
AAMC Web site highlighting topics, issues and legislation of importance
to medical schools and teaching hospitals.
Tax Benefits for Education—
www.irs.gov/publications/p970/index.html
IRS Publication 970
National Council
of Higher Education Loan Programs
Current information on Incomed Based Repayment.
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Physician Compensation
Modern Healthcare's 2008 Physician Compensation
Survey (PDF)
Salary data for physicians by specialty
Print Publications
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.
Loan Repayment Timeline: Class of 2009
(PDF)
Illustrates use of deferments, forbearance and repayment options for multiple
loans.
Medical Student Education: Cost, Debt,
and Resident Stipend Facts (PDF)
Education Debt Manager
(PDF)
This brochure provides step-by-step, common-sense strategies for managing
debt.
Education Debt Management for
Residents (PDF)
This brochure describes the resources, services, and tools available
to residents from FIRST.
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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.
For Financial Aid Officers
Financial Aid Officers can log in to access the following resources:
Lender
Assessment Tool
Financial
Aid Handbook (PDF)
A resource for both new and experienced financial aid administrators.
Exit
Interview Presentation on the GSA member Web site.
Entrance
Interview Presentation on the GSA member Web site.
To order 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).
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Popular Selections
Education Debt Manager (PDF)
This booklet provides step-by-step, common-sense strategies for managing
debt.
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.
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