All posts by Kristian Brennon

Financial Wellness News 10/17/22

Student Affairs

2022 Student Loan Forgiveness

On August 24th, President Biden announced sweeping student loan forgiveness for borrowers who have Federal Student Loans. Current students are included in this debt relief and applications for forgiveness are now available.

Read the Fact Sheet.

Learn more and apply.

Common Questions:

Who is eligible?

Borrowers with Federal Student Loans that were disbursed before June 30th, 2022. No loans disbursed after July 1, 2022, will be eligible for forgiveness. This includes current students.

Borrowers must make less than $125,000 annually (single) or a combined income of $250,000 if married and filing joint taxes. Income requirements are based on the 2020 or 2021 tax years.

What kind of loans can I get forgiven?

The following types of federal student loans disbursed (when you received your loan funds) on or before June 30, 2022, are eligible for relief:

  • All Direct Student Loans (subsidized or unsubsidized)
  • Direct Plus Loans (Parent or Grad Plus)
  • Federal Family Education Loan (FFEL)
  • Federal Perkins Loans
  • Federal loans in default status
How much can I get forgiven?
  • $20,000 if you received a Pell Grant at any time during school
  • $10,000 if you were not Pell Grant eligible

You must meet the income eligibility guidelines.

How do I apply for forgiveness?

The application is currently available to apply. Some individuals may receive an email notification detailing they will receive automatic forgiveness and do not need to apply. This is only if the federal government has your income on file. The vast majority of individuals will need to apply.

Apply here.

What is the deadline to apply for forgiveness? 

You must apply by December 31, 2023. However, you will want to apply this fall to avoid having to make payments on the balance when student loan repayment resumes on January 1, 2023.

JOIN OUR CANVAS:

Looking for a centralized location to review financial aid processes, stay up to date on scholarships, and increase your financial literacy? Our brand new SOM Financial Wellness Canvas is your new money toolkit!

On Canvas, you will find:

  • Financial Aid overview & how-tos
  • Financial literacy tips and resources
  • Full Financial Wellness event calendars plus recorded events to watch on demand.
  • Schedule a meeting with your Financial Wellness Counselor
  • Ask a personal finance question
  • and more!

All Medical, AA, and PA students have received an invitation to join Canvas.

If you have questions, please contact your Financial Wellness Counselor: Kristian Brennon at brennonk@umkc.edu.

►Events & Workshops:

The SOM Financial Wellness department is hosting 9 Events this fall! If you attend at least 3 of the events you will be entered for a grand prize drawing in December! Grab our flyer to see which events are included in the prize drawing here: SOM Financial Wellness Events

The fun doesn’t stop with SOM Financial Wellness. The Volker Financial Wellness Center is hosting quite a few in-person and virtual events this fall. Grab their schedule here: Financial Wellness Center Workshop Flyer, F22

You can RSVP for all SOM-sponsored events and Financial Wellness Center events on RooGroups.

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Upcoming Events:

HPSP Scholarship Informational Session Nov. 3rd @ 6 pm | ZOOM. Join the Army and Air Force recruiters to learn about how the Health Professions Scholarship Program can pay for your health degree. Best for incoming health students and students in year 1 of their professional program.

RSVP here.

Know What You Owe –  November 9th @ 12:30 PM | ZOOM  Do you know how much you owe in student loans? Find out how to manage your student loans and repay them upon graduation. 

RSVP here.

Financial Wellness News – 9/26/22

Student Affairs

2023-2024 Scholarships &
FAFSA Applications

The FAFSA and Scholarship applications open on October 1! Complete the FAFSA annually to be eligible for financial aid. Additionally, score some extra cash for school by completing the scholarship application. Be sure to put these items on your to-do list!

COMPLETING THE FAFSA:

October 1 of each year marks the first-day students are able to complete the Free Application for Federal Student Aid to apply for loans, grant money, and work-study arrangements.

We’ve put together a video that walks you through the process. Click this link to view it.

You can also watch the video on your announcements page in your respective AA, PA, and Med program Canvas Courses. Just look for the Financial Wellness module.

Remember, completing a FAFSA does not mean you have to take out loans. You’re eligible for Federal Pell and State grant money if you are an undergraduate student. If you’re a graduate or professional, don’t forget about work-study options. Plus, keep in mind that a lot of scholarships require a FAFSA to be on file. Complete the FAFSA before UMKC’s priority deadline of February 1, 2023.

If you have more questions on how to complete the FAFSA, visit this site for a complete overview of the process.

To complete or renew your FAFSA, click here.

SCHOLARSHIPS:

For Years 1 & 2  Medical Students in 2023-2024:

Students in these years of the program for the 2023-2024 school year are not eligible for additional School of Medicine scholarships.

Students are eligible for any of the general UMKC competitive scholarships. Be sure to visit umkc.academicworks.com and complete the general UMKC application and any additional prompted applications you may be eligible for.

For Years 3-6, MD, PA, & AA Students in 2023-2024:

The School of Medicine is pleased to offer students in the MD, AA, PA, and BA/MD 3-6 programs the chance to be awarded a scholarship from the School of Medicine for the 2023-2024 academic year. Scholarships are each in the amount of $5000.

To apply visit umkc.academicworks.com and complete the UMKC General Application and the prompted School of Medicine Scholarship Application. You must complete both applications to be eligible. The deadline to apply is March 1, 2023. 

Applications are reviewed and decisions are made in late Spring 2023.

If you have questions, please contact your Financial Wellness Counselor: Kristian Brennon at brennokn@umkc.edu.

►Events & Workshops:

The SOM Financial Wellness department is hosting 9 Events this fall! If you attend at least 3 of the events you will be entered for a grand prize drawing in December! Grab our flyer to see which events are included in the prize drawing here: SOM Financial Wellness Events

The fun doesn’t stop with SOM Financial Wellness. The Volker Financial Wellness Center is hosting quite a few in-person and virtual events this fall. Grab their schedule here: Financial Wellness Center Workshop Flyer, F22

You can RSVP for all SOM-sponsored events and Financial Wellness Center events on RooGroups.

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Upcoming Events:

Building Latinx Wealth: Buying your First Home – Oct. 6th @ 6 pm | ZOOM. Our expert guests, a real estate agent, and a mortgage lender will share how homeownership ties into larger conversations about the wealth gap and walk through the steps of the homebuying process.  RSVP here.

Alternative Ways to Pay for Medical School – Oct. 13th @ 4:30 pm | Hybrid. This session will feature a panel of current physicians, and students who paid off their student loans or financed med school in unique ways. Learn ways to decrease your debt during school and post-graduation. Dinner will be provided and this event will be hybrid. RSVP here.

Financial Wellness News – 8/22/22

Student Affairs

New Semester, New Financial Wellness Resources!

Is your wallet ready for this school year? We want to share some of our favorite resources to help you make this the best money-management year yet!

►Events & Workshops:

The SOM Financial Wellness department is hosting 9 Events this fall! If you attend at least 3 of the events you will be entered for a grand prize drawing in December! Grab our flyer to see which events are included in the prize drawing here: SOM Financial Wellness Events

The fun doesn’t stop with SOM Financial Wellness. The Volker Financial Wellness Center is hosting quite a few in-person and virtual events this fall. Grab their schedule here: Financial Wellness Center Workshop Flyer, F22

You can RSVP for all SOM-sponsored events and Financial Wellness Center events on RooGroups.

►Money Management Tools:

AAMC Financial Wellness: The AAMC has created a robust financial management dashboard specifically designed for medical students. Use this dashboard to:

  • Track Financial Health
  • Budget & Track Spending
  • Create Financial to-do’s
  • Create Financial Goals
  • Organize Student Loans
  • Utilize Resources & Calculators

Create a free account today! Visit the site here and choose UMKC as your school.

WellConnect Financial Literacy: Similar to AAMC Financial Wellness, read up on the latest financial topics, budget, and create financial goals. Plus you can:

  • Assess your risk of ID theft
  • Share accomplishments with friends
  • Determine your financial values.

Create a free account here and use the UMKC School Code: UMKCSOM

►Additional Resources

Budget Worksheet:  You’ve got to start off the year with a plan! Grab our Student Academic Budget worksheet and plan for the entire year in one place. Utilize the worksheet on your own, or schedule a 1:1 budget session with your Financial Wellness Counselor, Kristian at brennonk@umkc.edu.

Resource Center: Our Financial Wellness Resource Center is now open. Check back often for more resources and updates!

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Upcoming Events:

30 Ways to Save as a Student – September 1 @ 2 pm. Location: Student Union Room 402. RSVP Now.

Living on a student budget is no joke! In this workshop, we’ll share our tips and tricks for making your dollar stretch at UMKC. We’ll also invite you to share your best tips with fellow students.

Investing in a Digital Age –  September 15th @ 12:30 PM. Location: ZOOM. RSVP Now.

Learn how to make smart investment decisions and protect your money from fraud in this presentation by the U.S. Securities and Exchange Commission. We will discuss the steps you can take to build wealth through investing, what to consider when using investing apps, the risks of digital assets like cryptocurrencies, trading based on social media, the value of long-term investing, and how to protect your money from investment scams.

Bagels & Budgets: September 19th @ 10am Location: Miller Nichols Library  Room 451. RSVP Now.

School of Medicine students are invited to a breakfast Bagels & Budgets social on October 10th @ 10 am. Students will receive a Panera bagel, budgeting tips, a chance to create their own budget, and gain answers to their budgeting questions. This event does count towards FSE Engagement Experience Credit for the First Semester Experience course.

*Must RSVP to ensure enough bagels are ordered.

 

Financial Wellness News – 8/1/22

Student Affairs
►Bills Are Here!

The cashier’s office is releasing the final Fall semester bills on August 10th. To avoid holds, late fees, and a delay in class start dates, make sure you have your UMKC bill taken care of this week with these quick tips:

Check Your Budget

Ensure you are not taking out more debt than needed. List your personal and school expense for the year, and determine what income source you will need. Budget for the entire academic year with our budget worksheet or schedule a 1:1 budget session today!

►Get the worksheet: Student Academic Year Budget

Check Your To-Do List

If you are missing any steps in the financial aid process, you’ve received emails with action items to complete. Additionally, log on to Pathway and make sure you’ve completed all outstanding items on your To-Do lists located on the right-hand side.

If you have accepted loans to cover this year’s charges, have you completed the required entrance counseling and signed the promissory note? Log onto Studentaid.gov with your FAFSA ID to ensure you’ve completed these required steps.

ALL forms of financial aid will begin disbursing to student accounts one week prior to the start of the semester (August 16th) so be sure to have all of your checklists completed by that date.

Check Your Aid Acceptance Status

Did you accept your aid? Make sure that you have accepted the aid you plan to use for this semester. Aid will be applied to your cashier’s bill first, and the excess disbursed to you. Your bill will show your balance and anticipated aid. If the “Adjusted Amount Due” is negative, then your aid is covering your bill. If it is positive, that is a balance that you either need to pay or make payment arrangements for.

►If you are not sure how to review and accept your aid, click here.

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►Get to know Financial Wellness

Finances are personal and unique, especially for medical students committing to schooling longer than the traditional four-year college student. At UMKC School of Medicine, we value your success and tailor financial wellness to your specific experiences. From living on campus to preparing for residency, we’ll be with you to plan every expense every step of the way.

1:1 Financial Coaching

Our main service is financial coaching that is 100% student-focused. We can help students create and stick to a spending plan, discuss using credit and paying debt, and much more. We would love to talk to you about your specific financial situation and goals and empower you to practice healthy money-management habits.

To get started, please reach out to Kristian at brennonk@umkc.edu to schedule a meeting.

Student Loan Review

It’s no secret that financial aid is confusing. Students often have many questions regarding their aid and how it affects their tuition, living expenses, and overall level of debt. We provide assistance with semester-based budgeting that accounts for student loans and additional aid. This helps students estimate expenses and ensure they take out the right level of aid for their education.

Resource Center

Looking for more information on a specific topic? Our Resource Center can provide clarity on personal finance topics that are relevant and updated often. Visit the Resource Center here. 

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►Upcoming Events

(RSVP on RooGroups)

8/3/22 – ZOOM @12:30pm – Navigating Financial Aid for Medical Professionals

9/15/22 – ZOOM @12:30pm – Investing in a Digital Age

Financial Wellness News 6/13/22

Student Affairs

Investing 101

Summer is here! I don’t know about you, but I find that summer is a great time to read up on a new financial literacy topic. Kicking off the warm weather reading is the topic of investing! Everyone wants to know how to make their money work for them, but investing can be daunting to understand.

I’m loving this article from the SEC detailing the Top 10 Investing Tips for College Students. Learn the investing basics and pitfalls to be aware of as you start your investing journey. You can also check out the below resources for more information on personal finance and investing topics.

Plus, don’t forget about your access to AAMC Financial Wellness! Sign up for free using UMKC as your school to start utilizing the online money management dashboard. Once you’ve logged in, get started with the Saving and Investing course.

Happy reading!

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►Got loans?

The MedLoans Organizer and Calculator from the AAMC is a fantastic tool to stay up to date on your student loans. Not only can you organize each loan you can also run repayment scenarios based on your financial situation upon graduation.

If you have questions about transitioning financially from Med School to your career you’re welcome to schedule a meeting with your Financial Wellness Counselor to discuss. Email brennonk@umkc.edu to schedule.

___________________________________________________________________________

►Resource Spotlight

AAMC Financial Wellness: The AAMC has created a robust financial management dashboard specifically designed for medical students. Use this dashboard to:

  • Track Financial Health
  • Budget & Track Spending
  • Create Financial to-do’s
  • Create Financial Goals
  • Organize Student Loans
  • Utilize Resources & Calculators

Create a free account today! Visit the site here and choose UMKC as your school.

►This week at AAMC:

Savings Strategies For a Large Purchase

Specific strategies for saving for large purchases like a study prep course or a special trip.

Daily articles include:

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►Upcoming Events:

(RSVP through the Financial Wellness Center on RooGroups)

Happy summer! Check back in later for upcoming Fall 2022 events.

Financial Wellness News 5/16/2022

Admissions, Student Affairs
Financial Transition Tips for Grads!

Congrats Class of 2022!!

The Financial Wellness Department would like to make sure that your financial transition into your career is as smooth as possible. Below, I’ve put together a list of action items to help you prepare financially for post-graduation.  If you have any questions about the items to complete or the resources, please reach out to schedule a 1:1 meeting. I am here to help you embark on this new financial chapter and begin your career!

Establish a Budget  –  If you haven’t utilized a budget or other money-management techniques during school, it’s time to establish one before you start your career. We have a simple 50/30/20 budget template to get you started here.

Organize Student Loans – One of the biggest to-dos is to organize your student loans! This can sometimes feel daunting, but you can be on your way to easy repayment with just a few steps:

  1. Log on first to studentaid.gov and find your loan total and servicer on the right-hand side.
  2. Also on studentaid.gov, complete Federal Exit Counseling and email your confirmation to studentloans@umkc.edu.
  3. Create an account with your loan servicer to start repayment after your grace period.
  4. Decide on a repayment plan that fits your budget. Consider any forgiveness programs (like PSLF) or repayment strategies you want to work towards.
  5. Utilize the AAMC Education Debt Manager for information on EVERYTHING related to student loans.

Anticipate Changes – Are you moving? Need a new car? Need an entire new workwear attire? Consider upcoming changes like these (and more!) that might change your budget. If you are moving, consider test driving your budget by creating a “mock budget” with your new living expenses and income. Use this paycheck calculator to estimate your net income to budget.

Create short-term goals – Finally, consider the above steps and create short-term financial goals to achieve them. Goals can be big, like purchasing a new car, or small like reaching out to your student loan servicer. Create a financial to-do list to help you build the financial future you want!

With a little organization and small action items, you can walk into your first day on the job confident you are able to manage your new income!

__________________________________________________________

►Got loans?

The MedLoans Organizer and Calculator from the AAMC is a fantastic tool to stay up to date on your student loans. Not only can you organize each loan you can also run repayment scenarios based on your financial situation upon graduation.

If you have questions about transitioning financially from Med School to your career you’re welcome to schedule a meeting with your Financial Wellness Counselor to discuss. Email brennonk@umkc.edu to schedule.

___________________________________________________________________________

►Resource Spotlight

AAMC Financial Wellness: The AAMC has created a robust financial management dashboard specifically designed for medical students. Use this dashboard to:

  • Track Financial Health
  • Budget & Track Spending
  • Create Financial to-do’s
  • Create Financial Goals
  • Organize Student Loans
  • Utilize Resources & Calculators

Create a free account today! Visit the site here and choose UMKC as your school.

►This week at AAMC:

Understanding the Consequences of Bad Credit
An in-depth look at how poor credit can make life vastly harder to navigate and how to repair it.

Daily articles include:

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►Upcoming Events:

(RSVP through the Financial Wellness Center on RooGroups)

Happy summer! Check back in later for upcoming Fall 2022 events.

Financial Wellness News 5/2/22

Admissions, Student Affairs
That’s a Wrap!

The Financial Wellness Department had SO much fun celebrating National Financial Capability Month in April. We hosted 3 events, and gave out tons of snacks, resources, and prizes! BIG congrats to Sundas who won our Raffle drawing!

If you missed out on all of the fun, don’t worry! We have one more event on May 6th and then we will be back with tons of activities in the fall.

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►Health Professional Loans Available

UMKC offers alternative loan options for Disadvantaged Students (LDS Program) or for those passionate about Primary Care (PCL Program.)  These loans have a fixed interest rate and do not accrue interest during school. They also have a longer Grace Period upon graduation of 12 months.

For the Primary Care Loan, students MUST go into an approved Primary Care specialty or will face high-interest rate penalties. Please only consider applying if you are passionate about primary care.

  • Approved specialties as defined by HRSA are Family Medicine, Internal Medicine, Pediatrics, Combined Medicine/Pediatrics, Preventative Medicine, and General Practice. (OB/GYN is NOT approved)

Application Process: Applications open each year on March 1 and are due May 15th. You can apply at the UMKC Financial Aid site here and use the Secure Document Uploader to submit your application. You must include parental information on your FAFSA.

View the 2022 Fact Sheet

___________________________________________________________

►Summer Aid Update

Usually, Summer Financial Aid Request Forms are available on the UMKC Financial Aid site on March 1 annually. This year, Summer Aid will happen automatically! For the health sciences programs, you will be automatically packaged for Summer financial aid (if eligible) when batch enrollment is complete. If you are enrolled and still do not have your Summer Aid on your account, make sure you’ve:

  1. Completed the 2021-2022 FAFSA
  2. Have no outstanding financial aid task items.

Email Kristian if you’d like to set up a budget meeting before accepting aid at brennonk@umkc.edu.

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►Scholarship Informational Session

The Health Professions Scholarship Program (HPSP) is a military-wide initiative to offer full tuition, fees, and expenses paid to medical and PA students. Come learn more about this program with incredible financial perks (including $2400/month stipend!) on May 6th.

Free pizza will be available as students listen to Army and Air Force representatives discussing the ins and outs of the HPSP program. There’s no obligation to sign up for the program, just attend to learn more!

RSVP here.

__________________________________________________________________________

►Got loans?

The MedLoans Organizer and Calculator from the AAMC is a fantastic tool to stay up to date on your student loans. Not only can you organize each loan you can also run repayment scenarios based on your financial situation upon graduation.

If you have questions about transitioning financially from Med School to your career you’re welcome to schedule a meeting with your Financial Wellness Counselor to discuss. Email brennonk@umkc.edu to schedule.

___________________________________________________________________________

►Resource Spotlight

AAMC Financial Wellness: The AAMC has created a robust financial management dashboard specifically designed for medical students. Use this dashboard to:

  • Track Financial Health
  • Budget & Track Spending
  • Create Financial to-do’s
  • Create Financial Goals
  • Organize Student Loans
  • Utilize Resources & Calculators

Create a free account today! Visit the site here and choose UMKC as your school.

Be sure to check out the MedLoans calculator for easy student loan organization and management.

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►Upcoming Events:

(RSVP through the Financial Wellness Center on RooGroups)

May 6th – HPSP Scholarship Informational Session 

Join us for more information on the HPSP scholarship program. Free pizza will be provided. Location: Theater C (and ZOOM) at 4:15 pm. RVSP here. 

Financial Wellness News 4/4/22

Admissions, Student Affairs
Financial Capability Month!

April 1-30 is recognized as National Financial Capability Month! The SOM Financial Wellness Department is celebrating in a BIG way! Here’s how you can get involved:

  1. Stop by the Financial Capability Month table in the lobby starting April 5th. Pick up helpful financial literacy materials and enter the raffle for your chance to win a prize.
  2. Increase your financial capability by attending our events! Join us for Virtual Financial Wellness Bingo, Debt Management Lunch & Learn, and Decorate a Savings Jar!
  3. Challenge yourself to take inventory of your personal finances and create goals aimed at increasing your financial wellness!

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►Health Professional Loans Available

UMKC offers alternative loan options for Disadvantaged Students (LDS Program) or for those passionate about Primary Care (PCL Program.)  These loans have a fixed interest rate and do not accrue interest during school. They also have a longer Grace Period upon graduation of 12 months.

For the Primary Care Loan, students MUST go into an approved Primary Care specialty or will face high-interest rate penalties. Please only consider applying if you are passionate about primary care.

  • Approved specialties as defined by HRSA are Family Medicine, Internal Medicine, Pediatrics, Combined Medicine/Pediatrics, Preventative Medicine, and General Practice. (OB/GYN is NOT approved)

Application Process: Applications open each year on March 1 and are due May 15th. You can apply at the UMKC Financial Aid site here and use the Secure Document Uploader to submit your application. You must include parental information on your FAFSA.

View the 2022 Fact Sheet

___________________________________________________________

►Summer Aid Update

Usually, Summer Financial Aid Request Forms are available on the UMKC Financial Aid site on March 1 annually. This year, Summer Aid will happen automatically! For the health sciences programs, you will be automatically packaged for Summer financial aid (if eligible) when batch enrollment is complete. Stay tuned for more updates on this from the Financial Aid and Financial Wellness Offices. In the meantime, make sure you’ve:

  1. Completed the 2021-2022 FAFSA
  2. Have no outstanding financial aid task items.

__________________________________________________________________________

►Scholarship Opportunity

BA/MD Students are invited to apply for the Marilyn McGuyre Scholarship at this link. Apply by April 15th to be considered for the $4000 scholarship.

__________________________________________________________________________

►Got loans?

The MedLoans Organizer and Calculator from the AAMC is a fantastic tool to stay up to date on your student loans. Not only can you organize each loan you can also run repayment scenarios based on your financial situation upon graduation.

If you have questions about transitioning financially from Med School to your career you’re welcome to schedule a meeting with your Financial Wellness Counselor to discuss. Email brennonk@umkc.edu to schedule.

___________________________________________________________________________

►Resource Spotlight

AAMC Financial Wellness: The AAMC has created a robust financial management dashboard specifically designed for medical students. Use this dashboard to:

  • Track Financial Health
  • Budget & Track Spending
  • Create Financial to-do’s
  • Create Financial Goals
  • Organize Student Loans
  • Utilize Resources & Calculators

Create a free account today! Visit the site here and choose UMKC as your school.

Be sure to check out the MedLoans calculator for easy student loan organization and management.

This week at AAMC:

Understanding the Role of a Financial Advisor

The nuts and bolts of working with a Financial Advisor. Does it make sense for you?

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►Upcoming Events:

(RSVP through the Financial Wellness Center on RooGroups)

April 1-30th – National Financial Capability Month

April is National Financial Capability Month! Celebrate all month long with the Financial Wellness Department! We will be hosting various events throughout the month and also swing by our table in the SOM lobby to enter the raffle! RSVP for all financial wellness events on RooGroups.

Financial Wellness News 3/21/22

Admissions, Student Affairs
Save the Date!

April 1-30 is recognized as National Financial Capability Month! The SOM Financial Wellness Department is planning to celebrate in a BIG way! Stay tuned for more information on all of the drawings, fun events, and informational sessions coming in April!

_______________________________________________________________________

►Health Professional Loans Available

UMKC offers alternative loan options for Disadvantaged Students (LDS Program) or for those passionate about Primary Care (PCL Program.)  These loans have a fixed interest rate and do not accrue interest during school. They also have a longer Grace Period upon graduation of 12 months.

For the Primary Care Loan, students MUST go into an approved Primary Care specialty or will face high-interest rate penalties. Please only consider applying if you are passionate about primary care.

  • Approved specialties as defined by HRSA are Family Medicine, Internal Medicine, Pediatrics, Combined Medicine/Pediatrics, Preventative Medicine, and General Practice. (OB/GYN is NOT approved)

Application Process: Applications open each year on March 1 and are due May 15th. You can apply at the UMKC Financial Aid site here and use the Secure Document Uploader to submit your application. You must include parental information on your FAFSA.

View the 2022 Fact Sheet

___________________________________________________________

►Summer Aid Update

Usually, Summer Financial Aid Request Forms are available on the UMKC Financial Aid site on March 1 annually. This year, Summer Aid will happen automatically! For the health sciences programs, you will be automatically packaged for Summer financial aid (if eligible) when batch enrollment is complete. Stay tuned for more updates on this from the Financial Aid and Financial Wellness Offices. In the meantime, make sure you’ve:

  1. Completed the 2021-2022 FAFSA
  2. Have no outstanding financial aid task items.

__________________________________________________________________________

►Scholarship Opportunity

BA/MD Students are invited to apply for the Marilyn McGuyre Scholarship at this link. Apply by April 15th to be considered for the $4000 scholarship.

__________________________________________________________________________

►Got loans?

The MedLoans Organizer and Calculator from the AAMC is a fantastic tool to stay up to date on your student loans. Not only can you organize each loan you can also run repayment scenarios based on your financial situation upon graduation.

If you have questions about transitioning financially from Med School to your career you’re welcome to schedule a meeting with your Financial Wellness Counselor to discuss. Email brennonk@umkc.edu to schedule.

___________________________________________________________________________

►Resource Spotlight

AAMC Financial Wellness: The AAMC has created a robust financial management dashboard specifically designed for medical students. Use this dashboard to:

  • Track Financial Health
  • Budget & Track Spending
  • Create Financial to-do’s
  • Create Financial Goals
  • Organize Student Loans
  • Utilize Resources & Calculators

Create a free account today! Visit the site here and choose UMKC as your school.

Be sure to check out the MedLoans calculator for easy student loan organization and management.

This week at AAMC: Overcoming Financial Procrastination

 

The costs of financial procrastination can be greater than you might expect. This week we’ll explore strategies that can get your financial life moving again.

Daily Articles:

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►Upcoming Events:

(RSVP through the Financial Wellness Center on RooGroups)

March 22nd @ 5:30 pm – Chopped!

Students will have the opportunity to compete in teams to produce the best menus and dishes using low-cost items from the Kangaroo Pantry!. Location: 402 Student Union.

April 1-30th – National Financial Capability Month

April is National Financial Capability Month! Celebrate all month long with the Financial Wellness Department! We will be hosting various events throughout the month and also swing by our table in the SOM lobby to enter in for the raffle! Stay tuned for more details.

April 7th @ 3 pm – Intro to Investing

This event is designed to help you understand what investing is, who can invest, what options are available, and how you can get started investing for your future.  Location: 302 Student Union.

Financial Wellness News 3/7/22

Admissions, Student Affairs
►Health Professional Loans Available

UMKC offers alternative loan options for Disadvantaged Students (LDS Program) or for those passionate about Primary Care (PCL Program.)  These loans have a fixed interest rate and do not accrue interest during school. They also have a longer Grace Period upon graduation of 12 months.

For the Primary Care Loan, students MUST go into an approved Primary Care specialty or will face high-interest rate penalties. Please only consider applying if you are passionate about primary care.

  • Approved specialties as defined by HRSA are Family Medicine, Internal Medicine, Pediatrics, Combined Medicine/Pediatrics, Preventative Medicine, and General Practice. (OB/GYN is NOT approved)

Application Process: Applications open each year on March 1 and are due May 15th. You can apply at the UMKC Financial Aid site here and use the Secure Document Uploader to submit your application. You must include parental information on your FAFSA.

View the 2022 Fact Sheet

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►Summer Aid Update

Usually, Summer Financial Aid Request Forms are available on the UMKC Financial Aid site on March 1 annually. This year, Summer Aid will happen automatically! For the health sciences programs, you will be automatically packaged for Summer financial aid (if eligible) when batch enrollment is complete. Stay tuned for more updates on this from the Financial Aid and Financial Wellness Offices. In the meantime, make sure you’ve:

  1. Completed the 2021-2022 FAFSA
  2. Have no outstanding financial aid task items.

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►Save the Date

April 1-30 is recognized as National Financial Capability Month! The SOM Financial Wellness Department is planning to celebrate in a BIG way! Stay tuned for more information on all of the drawings, fun events, and informational sessions coming in April!

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►Got loans?

The MedLoans Organizer and Calculator from the AAMC is a fantastic tool to stay up to date on your student loans. Not only can you organize each loan you can also run repayment scenarios based on your financial situation upon graduation.

If you have questions about transitioning financially from Med School to your career you’re welcome to schedule a meeting with your Financial Wellness Counselor to discuss. Email brennonk@umkc.edu to schedule.

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►Resource Spotlight

AAMC Financial Wellness: The AAMC has created a robust financial management dashboard specifically designed for medical students. Use this dashboard to:

  • Track Financial Health
  • Budget & Track Spending
  • Create Financial to-do’s
  • Create Financial Goals
  • Organize Student Loans
  • Utilize Resources & Calculators

Create a free account today! Visit the site here and choose UMKC as your school.

Be sure to check out the MedLoans calculator for easy student loan organization and management.

This week at AAMC: Buying a Vehicle

A vehicle purchase is a high-stakes deal for just about anyone. This week, AAMC  covers strategies for finding the best vehicle and successfully negotiating the best overall price.

Daily Articles:

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►Upcoming Events:

(RSVP through the Financial Wellness Center on RooGroups)

March 10th @ 6 pm – Apartment Hunting

In this session, we’ll share resources, tricks, and tips for managing your housing search. We will discuss how to prepare a housing budget, where to look, and how to save. Location: ZOOM.

March 15th @ 6 pm – Taking on Taxes

Join this session to learn the ins and outs of taxes. We’ll explain why taxes exist and how they work, what forms to look out for, and important dates to remember.  Location: ZOOM.

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