Office of Student Affairs

Financial Literacy


When it comes to Financial Literacy, knowledge is power. Here at UMKC School of Medicine we want to connect you with the best financial literacy and student loan repayment information available, and help educate and empower you to understand financial literacy and your student loan repayment process.

The Association of American Medical Colleges (AAMC) has developed a comprehensive Financial Literacy Program known as FIRST. FIRST is designed to help members of the academic medicine community navigate the complexities of student debt. AAMC FIRST also helps medical school borrowers expand their financial literacy, make smart decisions about student loans and manage their student debt wisely.

The AAMC also provides a great 40 minute narrated presentation called The Economics of Becoming a Doctor . This presentation covers the most common repayment strategies during residency and the lifetime economic benefits of earning an MD Degree. The presentation also covers a realistic sample budget of an average physician salary and where your student loans fit into that budget. The presentation contains some of the most valuable information regarding student loan repayment and residency; it’s definitely worth watching in it’s entirety.

Below you will find a list of common Financial Literacy topics and many of the questions associated with those topics. We hope the information will clarify most of your questions and confusion.

To access all the information please take a moment and visit the AAMC FIRST website and click “SIGN IN” at the top right hand corner, create a username and password to ensure that you are able to connect to all the information.

Robin Patterson
Financial Literacy Counselor
pattersonrd@umkc.edu
816-235-1807

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