Financial Aid

Financial Wellness

Helpful tips to plan for the years ahead and take care of your financial future.

Personal Finance: Aashish Shah, MD19 again this year has teamed up with the AMS Office of Financial Aid to help increase your financial acumen. His tips on being in charge of your finances and investing early can guide you to a future of financial freedom.  His first 2018-2019 presentation was during the MD22 Orientation. His first financial publication, Ten Simple Finance Lessons for the Medical Student and Young Physician, is available in pdf form. It is relevant and worthwhile to read! We have also added his three videotaped workshops for your viewing.

AMS Financial Literacy Programs: The AMS Office of Financial Aid welcomes individualized financial counseling sessions before, during, and after your medical school years. We are available weekdays from 8:30am-5:00pm, so please schedule an appointment at your convenience by emailing us or giving us a call at 401-863-1142. We provide easily accessible, individual financial guidance, and encourages medical students to join us.

AAMC Financial Wellness: The American Association of Medical Colleges (AAMC) has created several useful financial tools. The FIRST program -- Financial Information, Resources, Services, and Tools -- was created to help guide you financially through your medical school and residency years. Please take some time to utilize the MedLoan Organizer and Calculator and the Education Debt Manager.

First Year One-on-One Meetings:  During your first months as a medical student and financial aid recipient, you will be invited to meet individually with our office staff to review disbursement and budgeting strategies. This mandatory meeting gives us a chance to understand your financial goals and needs. Feel free to bring questions and a projected budget!  

Fourth Year Loan Repayment Sessions:  As medical school winds down and graduation approaches, the OFA welcomes your questions and offers support with loan repayment. Scheduling an individual meeting to discuss loan repayment options, public service loan forgiveness, and loan deferment is highly recommended. A loan repayment schedule will be created and reviewed during the session. Review loan repayment programs available during both residency and in practice.

Federal Loan Entrance Counseling:  Regulations governing the disbursement of federally guaranteed loans require that every new borrower receive loan counseling before their loans are disbursed. The purpose of this is to familiarize you with the process of financing your medical school education, including your rights as a borrower, your obligations, benefits (e.g., deferment options), and personal budgeting issues. The Brown Loan Office offers online loan entrance counseling to satisfy the federal government's requirement and will contact each new borrower with instructions.  

Federal Loan Exit Counseling:  Loan exit counseling is required of all students who have received federal student  loans. When a student graduates, drops below half-time, or withdraws from school, they will be asked to complete loan exit counseling. The Brown Loan Office will be in touch with medical students on how to complete these requirements online. 

Institutional Brown Loan Exit Counseling:  Loan exit counseling is required of all students who have received institutional and Perkins student loans. When a student graduates, drops below half-time, or withdraws from school, they will be asked to complete loan exit counseling. The Brown Loan Office will be in touch with medical students on how to complete these requirements online. 

AAMC FIRST

The American Association of Medical Colleges (AAMC) has created several useful financial tools. The FIRST program -- Financial Information, Resources, Services, and Tools -- was created to help guide you financially through your medical school and residency years.

The AAMC has FIRST Financial Aid Fact Sheets and FIRST Videos and Webinars available on their extensive site.  Other helpful financial tools are:

MedLoan Organizer and Calculator provides a secure location to organize and track student loans while also displaying possible repayment plans and costs based on a student's individual loan debt.   

The Education Debt Manager, a 67-page pdf, is a common-sense guide to managing your student loans. On Page 12, Manage your debt -- don't let it manage you! and the How Interest Accrues on Student Loans graph are worth a look!