Financial Aid

Financial Wellness

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

AMS Financial Aid Counseling: The AMS 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 FinanceEvery year, OFA plans a series of presentations about personal finance.  Through the years, we’ve solicited the help of AMS students as peer consultants and AMS alums now practicing physicians who 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. 

AMS alum, Aashish Shah, MD19 worked with the AMS Office of Financial Aid to help increase the financial acumen of AMS 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 AMS, 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

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.

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

The MedLoan Organizer and Calculator which 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 is a common-sense guide to managing your student loans. This is a great resource for all medical students to have a better understanding about loan borrowing and repayment.