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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►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.
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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:
- Completed the 2021-2022 FAFSA
- Have no outstanding financial aid task items.
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►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.
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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: 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:
- Procrastinating has a Cost
- How to Avoid Financial Procrastination
- Financial Habits Everyone Should Master
- Online Calendars and Automation Make a Difference
- Steps You Can Take in a Single Day
- Challenge – How Do I Feel About Money?
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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.
