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.
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!