Financial Wellness News 10/18/21

Apply for 2022-2023 Scholarships

Did you hear?  The 2022-2023 Scholarship Applications are here! Read on to find out how to apply and what you are eligible for based on your program and year of school.

For Years 1 & 2 Students in 2022-2023:

Students in these years of the program for the 2022-2023 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 2022-2023:

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 2022-2023 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, 2022. 

Applications are reviewed and decisions are made in late Spring 2022.

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

►You don’t want to miss this event!

The day is drawing closer to our 1st Annual Create a Savings Jar Event!!

Take time away from your studies to focus on your financial goals by creating your own Savings Jar. This event is going to be a creative and relaxing experience to provide students with an opportunity to bring their financial goals to life. Participants will be provided with a jar and crafting supplies, however, feel free to bring your own embellishments! Light snacks, music, and FUN are provided as well!

Not into crafting? Don’t need a jar? You can still register to pick up a printed Savings Challenge handout to encourage and track your savings goals.

Register for the date that best fits your schedule. Space is limited.

RSVP for Nov 2 @ 11:30

RSVP for Nov 4 @ 2:00

►Sign up for AAMC, Win a Prize!

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.

ANYONE who signs up for AAMC Financial Wellness and creates a budget by October 31 will be entered into a drawing for a prize! 

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Upcoming Events:

*RSVP to all these events here: Financial Wellness Center – RooGroups (umkc.edu)

SOM Events:

Nov 2nd or 4th – Create a Savings Jar: Bring your financial goals and creative hands to create your own Savings Jar. Whether it is saving for a specific goal or taking the challenge to save more, this event provides a relaxing break from coursework to focus on their financial goals in a creative manner. SOM 4th floor @ 11:30 or 2 PM (depending on the day you register for)

Volker Financial Wellness Events:

Oct 20th – Filing your FAFSA: Join us for this FAFSA Kickoff Workshop! In this workshop, we’ll talk about how the FAFSA is used and what financial aid is available. We’ll also answer common FAFSA-related questions. ZOOM @ 6 pm

Oct 26th – Understanding Student Loan Repayment: We’ll show you how to find your student loan totals, interest rates, and loan servicer. We’ll also share tips on how to lower your debt while you’re in school and how to estimate your post-graduation payments. ZOOM @ 6pm

Oct 28th – Mythbusters Personal Finance Edition: We pick up financial habits and information from social media, family, and friends all the time. In this session, we’ll break down money myths and misunderstandings and help you learn how to fact-check financial information. Student Union Room 402 @ 2pm

Town Hall Q&A 10/4/2021

Question:

Are medical students required to have a third dose of the COVID vaccine?

Answer:

The interim guidance on a third dose is that those 18-49 years old who are healthcare workers or who have underlying conditions MAY receive a third Pfizer dose (booster) if it has been 6 months or longer since dose 2 of either Moderna or Pfizer.

TMC is not requiring a third dose as part of their mandate. At this time, they are offering a third dose vaccine by appointment.  Interested students should phone 816-404-CARE.

Financial Wellness News 10/4/21

FAFSA Application
Now Open!

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 step by step. 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. If you are an undergraduate student, you’re eligible for Federal Pell and State grant money. 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, 2022.

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.

►Sign up for AAMC, Win a Prize!

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.

ANYONE who signs up for AAMC Financial Wellness and creates a budget by October 31 will be entered into a drawing for a prize! 

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Upcoming Events:

*RSVP to all these events here: Financial Wellness Center – RooGroups (umkc.edu)

SOM Events:

Oct 27th  – Bagels and Budgets: Eat a bagel. Learn to budget. Students will receive a Panera bagel, budgeting tips, a chance to create their own budget, and gain answers to their budgeting questions. Oak Street Residence Hall Room 2003 @ 9 am

Nov 2nd or 4th – Create a Savings Jar: Bring your financial goals and creative hands to create your own Savings Jar. Whether it is saving for a specific goal or taking the challenge to save more, this event provides a relaxing break from coursework to focus on their financial goals in a creative manner. SOM 4th floor @ 11:30 or 2 PM (depending on the day you register for)

Volker Financial Wellness Events:

Oct 7th – Filing your FAFSA: Join us for this FAFSA Kickoff Workshop! In this workshop, we’ll talk about how the FAFSA is used and what financial aid is available. We’ll also answer common FAFSA-related questions. Student Union Room 402 @  1pm

Oct 20thFiling your FAFSA: Join us for this FAFSA Kickoff Workshop! In this workshop, we’ll talk about how the FAFSA is used and what financial aid is available. We’ll also answer common FAFSA-related questions. ZOOM @ 6 pm

Oct 26th – Understanding Student Loan Repayment: We’ll show you how to find your student loan totals, interest rates, and loan servicer. We’ll also share tips on how to lower your debt while you’re in school and how to estimate your post-graduation payments. ZOOM @ 6pm

Oct 28th – Mythbusters Personal Finance Edition: We pick up financial habits and information from social media, family, and friends all the time. In this session, we’ll break down money myths and misunderstandings and help you learn how to fact-check financial information. Student Union Room 402 @ 2pm

 

 

Financial Wellness News 9/27/21

Positive Financial Habit #3:
Automate Your Savings

Do you struggle with setting aside money for your financial goals? Whether your goals are big or small, making regular deposits into your savings account is a pillar of success in achieving that goal.

If you are someone who gets to the end of the month and wonders why there is no money left for savings, start practicing the principle of “paying yourself first.” This simply means that you put money aside for your goals FIRST before you pay anything else.

Now, it is important to note that this does not exclude you from paying your necessary bills on time each month. Don’t neglect your housing, utilities, and grocery funds, but send a few dollars over to savings before you go out for your daily coffee or weekly Chick-fil-A.

If you want to make saving even easier, set up an automatic transfer from your checking account to your savings. It can be as small as $5, or as large as you need to reach your goals.

Many banks even have sub-accounts within their savings accounts where you can earmark different funds for different goals. For example, I bank with ALLY and use their “Savings Bucket” feature. Each month, I might distribute the amount saved to my “Travel” savings and also my “Irregular Expenses” saving buckets. This feature makes it easy to save for multiple things without multiple accounts. Check with your bank to see how you can automate and customize your savings plan!

►Financial Aid: Have you received HEERF III funds this year? 

Have you received your grant from the Higher Education Emergency Relief Fund? This is free emergency grant money as a result of the difficult economic times we are currently experiencing due to COVID-19. If awarded, you can have financial aid apply the funds to your bill, or have the funds sent straight to your bank account to cover personal expenses.  This application is still open for students who have not received a grant. 

To apply: Review your 2020-2021 AND 2021-2022 award summary on Pathway. If you do not see an award called “HEERF III” then you have not received the award and can apply using the following link. (There have been multiple HEERF awards, be sure to look carefully for the 3rd one!)

https://umkc.co1.qualtrics.com/jfe/form/SV_ema9iwBn4OnicUC

If you view your awards and see you were granted the HEERF III award in either Spring 2021, Summer 2021, or Fall 2021, you are not eligible to apply again.

If you have more questions or need help checking to see if you are eligible, email Kristian at brennonk@umkc.edu.

►Sign up for AAMC, Win a Prize!

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.

ANYONE who signs up for AAMC Financial Wellness and creates a budget by October 31 will be entered into a drawing for a prize! 

This week at AAMC: One-Week Plan to Building Wealth

Speaking of savings, starting the process of building long-term wealth doesn’t have to be difficult or complicated. Learn these simple tips at this week’s topic at AAMC Financial Wellness.

Daily Articles:

September Events:

Financial Wellness Meet and Greets – Get to know the Financial Wellness Department! Visit our table and grab a free snack in the SOM Lobby on September 30th and October 1st. See you there!

Financial Wellness News 9/20/21

Positive Financial Habit #2:
Review Student Loans Annually

Got loans? If you have student loans, you don’t need to wait until you have graduated to manage them. Make it a habit to check your student loan balance each fall to ensure you know how much you’ve borrowed and find information regarding your loans.

To review your loans, simply log on to studentaid.gov and use the same ID and Password that you used to complete the FAFSA. Here, you can find your total balance of loans (does not include Parent Plus loans) and also information about your loan servicer.

If you find yourself with extra savings and want to get a head start on your student debt, you are able to make a payment on your loans while in school, without jeopardizing your in-school deferment status. Read more about paying your loans off quicker in this article. 

Reviewing your student debt annually helps you be a more informed borrower as you look at financial aid for the next year. The AAMC has a great resource called “Education Debt Manager”  released each year that reviews payment plans, statistics, and tips for managing your debt.

Grab the resource here: aamc_education_debt_manager_july2021

►Sign up for AAMC, Win a Prize!

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.

ANYONE who signs up for AAMC Financial Wellness and creates a budget by October 31 will be entered into a drawing for a prize! 

This week at AAMC: Financial Rules of Thumb

Financial rules of thumb are designed to be broad, simple guidelines that give consumers a way to save, spend and invest wisely. Learn these simple tips at this week’s topic at AAMC Financial Wellness.

Daily Articles:

September Events:

Caring about Credit – Tuesday, September 21 @ 2 pm. Location: 402 Student Union (Volker)

Join us to learn what credit is, how scores are calculated, and how to responsibly use a credit card to build your credit history. RSVP on RooGroups.

Financial Wellness Meet and Greets – Get to know the Financial Wellness Department! Visit our table and grab a free snack in the SOM Lobby on September 30th and October 1st. See you there!

Financial Wellness News 9/13/21

Positive Financial Habit #1:
Shop Smarter

We are kicking off our Positive Financial Habits series with a tip that applies to everyone: smarter grocery shopping! It’s all too easy to bust a budget while browsing the snack aisle. Building smart shopping habits while at the store can be easy with a few minutes of planning before you head out the door.

A few easy ways you can stay on budget while at the store are:

  1. Plan meals ahead and stick to your grocery list
  2. Only buy the quantities you need for the specified period you’re shopping for and that you can eat before they expire.
  3. Compare ads and brands for the best price.

For more grocery budget tips, check out this blog.

Tight on Funds?

The UMKC Kangaroo Food Pantry is open and ready to help you stretch your grocery budget if you find yourself low on funds. You can find staple pantry items, fresh dairy products, and seasonal vegetables available to you on the first floor of the School of Medicine.

I have linked a few recipes below that use staple Kangaroo Pantry items to supplement your ingredient list paired with items you already own to create a yummy meal!

All recipes are from a fantastic resource called Budget Bytes. This website lists 100s of recipes that are budget-friendly. Check out the category “Meals Under $10” to get inspired on low-cost, high-taste recipes. Visit the website here.

#1 Spicy Peanut Butter Ramen

Pantry Ingredients: Peanut Butter, Ramen Noodle Pack

Recipe: Spicy Peanut Butter Ramen – Quick & Easy! – Budget Bytes

#2 Quick Veggie Pasta (ANY pasta, ANY veggie works!)

Pantry Ingredients: Spaghetti Noodles, Canned Chicken Breast, Seasonal Fresh Veggies

Recipe: Quick Veggie Pasta – Vegetarian or Vegan – Budget Bytes

#3 Tuna and Red Pepper Pasta

Pantry Ingredients: Canned Tuna, Spaghetti Noodles

Recipe: Tuna and Red Pepper Pasta – Budget Bytes

#4 Cheesy Chicken & Rice Casserole

►Great for leftovers or meal prep!

 Pantry Ingredients: Canned Chicken, Rice, Milk, Canned Mixed Veggies OR Fresh  Veggies

Recipe: Cheesy Chicken Vegetable and Rice Casserole – Budget Bytes

#5 Raspberry Oatmeal Bars

            Pantry Ingredients: Oats, Jelly

Recipe: Raspberry Oatmeal Bars – Budget Bytes

Want more budget-friendly meal inspiration? We suggest this article.

Resource Reminder:

Click the image below to watch a short video on all the features AAMC Financial Wellness offers.

ANYONE who signs up for AAMC Financial Wellness and creates a budget by October 31 will be entered into a drawing for a prize!

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September Events:

Caring about Credit – Tuesday, September 21 @ 2 pm. Location: 402 Student Union (Volker)

Join us to learn what credit is, how scores are calculated, and how to responsibly use a credit card to build your credit history. RSVP on RooGroups.

Financial Wellness Meet and Greets – Get to know the Financial Wellness Department! Visit our table and grab a free snack in the SOM Lobby on September 30th and October 1st. More details and times to come. See you there!

UMKC SOM Patagonias by Kansas City Miracle Makers

UMKC School of Medicine Patagonias are back and order forms are ready! The Patagonias are brought to you by Kansas City Miracle Makers and are being offered to SOM students, residents, and doctors. This year we will be offering the Micro D Pullovers, Better Sweater Pullovers, and the Better Jackets in grey, black, and navy, with up to two lines of personalized text. The merchandise has been approved by SOM Office of Marketing and Communications. Part of the proceeds are donated to the Children’s Miracle Network. We hope to have the first order of Patagonias in before the winter starts!

Please go through the google form to select which item you would like to purchase and the personalization you would like.

Here is the link to additional instructions and where you can place your order: https://forms.gle/KuqiGJczhH3TxhcN8

We will be accepting orders until October 1st. Please contact Deepa Kumar (dskcw9@umsystem.edu) or Jenny Allen (jla4wb@umsystem.eduwith any questions!”

Thank you,

Kansas City Miracle Makers

Town Hall Q&A 9/7/2021

Question:

Does the school of medicine have a plan regarding COVID boosters for students? And is there any guidance on if we need to wait a certain amount of time between the flu shot and the COVID booster?

Answer:

At the current time, COVID booster vaccines are only recommended for certain populations.  Those are persons with:

  • Active cancer treatment
  • Immunocompromised due to solid organ transplant, stem cell transplant, medical condition (i.e., DiGeorge Syndrome, Wiscott-Aldrich), advanced or untreated HIV infection
  • Medication treatment with:  high dose corticosteroids (i.e. prednisone 20mg  or equivalent per day), alkylating agents, antimetabolites, transplant-related immunosuppressive drugs, chemotherapeutic agents, tumor necrosis blockers, and other biologic agents that might suppress the immune system.

If you are a student with one of the above conditions, you should contact TMC Occupational Health to request a booster.  The third vaccine should occur at least 28 days after the second vaccine dose of the Moderna or Pfizer vaccine.

For all other students, know that we are monitoring booster recommendations very closely.  If the CDC, ACIP, HHS and/or Occupational Health recommend booster vaccination for our workforce members, students will be instructed about how to obtain an additional vaccine.  As primary healthcare providers, students will be included in the vaccination plan for all healthcare personnel.

Question:

The SOM has told students that they need to get the flu vaccine by October 1st; however, the flu vaccine is most effective when taken in mid-to-late October so it lasts throughout flu season. With the COVID-19 booster shots becoming available on Sept 20th, what is the best way for students to navigate getting both vaccines? Should we get both on the same day. Do we need to wait 3 weeks in between them (putting the flu vaccine past October 1st)? Personally, I would like to get my COVID-19 booster 8 months after I got the 2nd dose (1/15) and get the flu vaccine in mid-October so I am protected throughout the flu season–will the school allow this?

Answer:

   The incidence of flu infection begins in October, so being vaccinated and having time to develop antibodies prior to that is most helpful for healthcare workers.  Although it is suspected that flu vaccine immunity wanes after six months, there is data to suggest that it actually lasts longer.  Either way, flu infections are typically decreasing by March so your September vaccine does protect you until then (at least).

   See the above question for COVID vaccine boosters, as most people do not meet the criteria for a booster vaccine at this time.  If the CDC, HHS, and/or Occupational Health determine that a third COVID vaccine booster is needed, it can be administered along with other vaccines.  Here is a link from the CDC that addresses this question:  https://www.cdc.gov/vaccines/covid-19/clinical-considerations/covid-19-vaccines-us.html#Coadministration.

   For now, the flu vaccine deadline will remain October 1 as per the TMC requirement.  We certainly want all students to meet this deadline so that you can continue your clinical endeavors.  If the deadline changes, we will be sure to notify all students promptly.

Financial Wellness News 9/6/2021

►Fall for Financial Wellness
this Semester!

If you’ve been by the Student Affairs Suite, you may have noticed the financial wellness-themed window! The window elements list ways that you can be financially well this semester.

Each week this month we will be highlighting a specific positive financial habit that will increase your overall financial well-being.

►This Week’s Positive Habit: Create a Budget

A budget is a tool that gives you permission to spend on the items you want! Eliminate unnecessary stress by creating a plan each month to pay bills and spend money on items you want.

Create a monthly budget with 3 easy steps:

  1. List all income sources for the month: Do you have a job? Are you provided with spending money from your support system? List those funds here.
  2. List all expenses for the month: These can be “needs” like a rent or utility bill but also include your “wants” like an entertainment category.
  3. Subtract expenses from income: Once you have all of your expenses listed, subtract those amounts from your income for the month.
    1. If the number is positive, then you are spending less than you make. This is a positive habit.
    2. If the number is negative, go back and review some of your “wants” and adjust until you net zero.

Watch this quick video for a complete overview of budgeting.

►Create Your Budget with AAMC

The AAMC Financial Wellness money management dashboard includes a feature for you to create a budget in just a few minutes. Then, export it to your computer to save for later if desired.

ANYONE who signs up for AAMC Financial Wellness and creates a budget by October 1 will be entered into a drawing for a prize!

You can also use this dashboard to:

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

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

Click the image below to watch a short video on all the features AAMC Financial Wellness offers.

►Reminder: Bills are due on September 10th

If you haven’t paid your bill or made payment arrangements with the Cashiers’ office, you need to do so by September 10th to avoid late fees and finance charges.

For more tips on how to manage your UMKC bill click here.

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September Events:

Caring about Credit – Tuesday, September 21 @ 2 pm. Location: 402 Student Union (Volker)

Join us to learn what credit is, how scores are calculated, and how to responsibly use a credit card to build your credit history. RSVP on RooGroups.

Financial Wellness News 8/30/21

Engage with Financial Wellness
This Week!

Financial Wellness events are in full swing this week! Plus, take control of your finances this year by meeting 1:1 with our Financial Wellness Counselor and utilizing the AAMC Financial Wellness dashboard.

►Events & Workshops:

Tuesday, August 31 @ 2 pm.

Basics of Budgeting Workshop –  Wondering how to make your money work for you? This workshop will help you create and manage a budget based on your financial goals. Register on RooGroups. Location: 302 Student Union (Volker) – Hosted by Volker Campus Financial Wellness Center.

Wednesday, September 1 from 11:30-1 pm:

Lunch on the Lawn – Visit our table and grab some snacks and play some games during the HSD Lunch on the Lawn. Lunch provided to students. Located on the lawn in front of the SOM.

Thursday, September 2 from 2-5 pm:

The Financial Wellness Center Open House – Our friends at the Volker campus financial wellness office are hosting an open house to tour their new space and meet the brand new Financial Wellness department. Location: Volker Administration Center Suite 223.

►Sign up for AAMC, Win a Prize!

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.

ANYONE who signs up for AAMC Financial Wellness and creates a budget by October 1 will be entered into a drawing for a prize! 

This week at AAMC: Crash Course in Homebuying

Buying a home is the single largest purchase most of us will ever make. Learn the basics of home buying with this week’s topic at AAMC Financial Wellness.

Daily Articles:

►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!

►Make an Appointment:

Finances are personal and unique! Set up an appointment to speak to your Financial Wellness Counselor about your specific financial questions and concerns. Appointments are available in person at both Health Sciences and Volker campuses as well as virtually.

Schedule now

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August Events:

Basics of Budgeting – Tuesday, August 31 @ 2 pm. Location: 302 Student Union (Volker)

Wondering how to make your money work for you? This workshop will help you create and manage a budget based on your financial goals. Register on RooGroups.