Financial Wellness News 3/7/22

►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.


►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!


►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 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: 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:


►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.