Debt Management
MEDICAL STUDENT/RESIDENT DEBT CONTINUES TO RISE
The average debt of graduating medical students increased in 2006 by 8.5 percent over the previous year, according to data recently released by the AAMC. The average educational debt of indebted graduates of the class of 2006
(including pre-med borrowing) was about $130,500; almost 72 percent of graduates have debt of at least $100,000.
The AAMC offers several programs to assist students and residents in managing their educational debt, including: Monetary Decisions for Medical Doctors, online financial planning and debt management information; Financial
Education and Wellness, a five-part curriculum for medical students on personal financial philosophy; Careers in Medicine, a career-planning program that also supplies basic financial aid and debt management information; MEDLOANS, debt management materials and workshops; and a database of state loan repayment/forgiveness and scholarship programs. http://www.aamc.org/students/financing/debthelp/factcard06.pdf
DEBTHELP - Educational Debt Management Services for Residents is designed exclusively for residents and the medical school financial aid officers and GME staff who counsel them on their student loans.
The AAMC MEDLOANS Program was the first loan program specifically designed for medical students.
http://www.aamc.org/students/medloans/
National Conference on Medical School Debt - September 2005 webcast and transcript available online at KaiserNetwork.org