Financial Aid

Financial Wellness

Your financial literacy largely determines your financial wellness in medical school. Alongside meeting your financial need, the Office of Financial Aid is committed to empowering you to take ownership of your finances by providing tools and counsel.

Financial Wellness

Your financial literacy largely determines your financial wellness in medical school. Alongside meeting your financial need, the Office of Financial Aid is committed to empowering you to take ownership of your finances by providing tools and counsel.

Financial Aid Counseling: The Warren Alpert Medical School Office of Financial Aid (OFA) 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. Our meetings can be held in-person, via zoom or phone with easily accessible, individual financial guidance.

First Year One-on-One Meetings:  During the summer prior to starting medical school, you will be invited to meet individually with a member of our office to review budgeting and loan borrowing strategies. This meeting gives us a chance to understand your financial goals and needs and help you better plan for them. We encourage you to prepare questions and a projected budget before meeting!

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 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 reaches out to medical students with instructions on completing the online requirements. 

Fourth Year Loan Repayment Meeting:  As medical school graduation approaches, the OFA plans a meeting with student borrowers to prepare them for the loan repayment process. We also strongly suggest meeting individually with a member of our staff after the formal presentation to solidify your repayment strategy. We discuss loan repayment plans, public service loan forgiveness, and loan deferment options. A loan repayment schedule will be created and reviewed during the consultation. Be sure to review the various loan repayment options the federal government has to offer.

Institutional Brown Loan Exit Counseling:  Loan exit counseling is required of all students who have received AMS 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 reaches out to medical students with instructions on completing the online requirements.

Personal Finance: Every year, OFA plans a series of presentations about personal finance.  Through the years, we’ve solicited the help of students as peer consultants and alums who are now practicing physicians have generously volunteered their time and expertise in this area.  You can find a brief description about the programs our presenters have offered below along with links to the recordings. 

Warren Alpert Medical School alum, Aashish Shah, MD19 worked with our office to help increase the financial acumen of our students. His tips on taking charge of your finances and investing early can guide you to a future of financial strength.  While Aashish shared this information during his time at the medical school, his guidance is timeless and  continues to hold relevance. 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! In addition, please take time to view recordings of the presentations he offered. 

AAMC FIRST

The American Association of Medical Colleges (AAMC) developed the FIRST program -- Financial Information, Resources, Services, and Tools -- to help guide you financially through your medical school and residency years.

A Medical Student's Guide to Money Management and Student Loans is their online publication that provides financial guidance for the entering, continuing, and graduating medical school student. There you will be able to access a variety of resources including several articles and tools.

The MedLoans Organizer and Calculator (MLOC) is a powerful tool designed to assist medical students and residents in organizing their loan portfolio. Its functionalities include estimating borrowing cost, reviewing different repayment strategies, and projecting interest costs.