Student Financial Aid: Curriculum and Resources | Office of Medical Education | The University of Vermont(title)

Students walking in the Given Medical Building

Financial Wellness in the Curriculum

Financial wellness for medical students is integrated into the Larner curriculum from the first day of medical school through Match Day. Our office provides guidance on various aspects, including financing medical education, managing student loan debt, and fostering overall financial well-being.

First and Second Years

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In your first and second years, expect to receive the following presentations and/or webinars:

  • Money Management for Entering Medical Students
  • Know What You (Will) Owe
  • Medical School Costs for Nontraditional Students
  • How to Save Money (Couponing! Carpooling! And more tips)
  • National Health Service Corps: Scholarship and Loan Repayment Programs

All years:

Third and Fourth Years

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In your third year, expect to receive the following presentations and/or webinars:

  • The Cost of Interviewing for Residency
  • The Personal Economic Model®
  • Establish and/or Maintain Healthy Credit

In your fourth year, expect to receive the following presentations and/or webinars:

  • If You Don't Match: Steps to Manage Student Loans
  • Living on a Resident's Salary: Interactive Budget Worksheet (PDF), Paycheck Infographic (PDF)
  • Unexpected Costs After Medical School: Relocation, Boards, and Interviews
  • Residency and Relocation Loans: To Borrow or Not to Borrow
  • Selecting a Financial Planner
  • Senior Series for Exit Loan Counseling (a collection of several presentations)

All years:

Spring Senior Series- Preparing for Loan Repayment and Medical School Departure

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Senior Series Exit Loan Counseling:

Medical Student Financial Services offers exit loan counseling with our "Senior Series". The series includes webinars, group sessions, and guided conversations tailored just for you! While the Senior Series is geared toward those in their fourth year, we believe debt counseling should occur throughout your entire medical education, not just the very end. Therefore students from all levels are welcome to attend

Click here for an example schedule from spring 2024 (PDF).

Recorded webinars: Medical Student Financial Services - Home (Sharepoint)

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Financial Planning Meetings for Students

Since the summer of 2020, the Larner College of Medicine has partnered with WellConnect to provide a wide array of student services, including a comprehensive free financial counseling meeting with a Certified Financial Planner®. Find out how to sign up below!

Free Meetings with Certified Financial Planners

Background

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This service complements our Medical Student Financial Services rather than replacing them. However, due to the expertise of a Certified Financial Planner (CFP), certain inquiries—such as those related to investing or disability insurance—may be more appropriately addressed by a qualified financial planner.

You are welcome to take advantage of a complimentary 30-minute session (once per academic year in which you are enrolled) for each topic. Topics may include budgeting, investing, credit, or other financial matters. If you experience a change in your financial situation—such as a change in living location or marital status—you are entitled to a second 30-minute session within the same year on the same topic.

Note: Incoming first year students are eligible beginning July 01 of the summer you matriculate. If you plan to matriculate in August, you are eligible for counseling beginning July 01.

Steps to Follow

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  1. Call 866-640-4777 and follow the prompts. You do not need our school code handy – they will simply ask which institution you attend.
  2. A representative will take information from you, such as your school, geographic region, and other details. The representative will create a referral after disconnecting with you.
  3. You will be matched with a CFP® from their Student Assistance Program. This individual could be located anywhere in the country! A phone appointment will then be scheduled based on your availability.
  4. Participate in your FREE certified financial counseling appointment!
  5. Consider emailing MedSFS@uvm.edu to share feedback about your meeting – we want to hear from you!

Prepare for Your Appointment during Referral Processing

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  • Think about the concerns or assistance you need so you can advocate for yourself.
  • Gather all of your financial information, such as recurring bills.
  • Plan your schedule so you can be in front of your computer for your appointment; this way items are easily accessed should the CFP spontaneously ask questions (for example, interest rates on accounts you may have).
  • Have your goals and questions prepared since the session is limited to ½ hour per topic.
  • Familiarize yourself with your financial aid refund amounts/living expense allotment since your direct deposit(s) serves as income during your time of enrollment. The financial aid budget/cost of attendance is linked here.

Did you know? WellConnect has a Work Life Benefit Team which maintains a special database of various assistance opportunities specific to your situation and/or geographic region. Examples include programs on renter assistance, food pantries, community partnerships, utility heating assistance, and much more!

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Student Advisory Council to Medical Financial Services

In 2020, a Student Advisory Council to Medical Student Financial Services was formed to facilitate direct communication between students and the financial services staff. This committee plays a vital role in gathering and conveying student feedback on important financial matters.

Student Advisory Council

What We Do

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Our Student Advisory Council is imperative when it comes to:

  • Noticing financial trends with their peers
  • Making recommendations for program changes where possible or necessary
  • Assisting with communications to the student body regarding Med SFS topics and information
  • Continuous quality improvement with financial aid administrative services and personal financial health programming

Committee-wide meetings occur at least quarterly, and all are welcome to attend, even if you are not formally on the council. Smaller breakout groups meet on an as-needed basis to address special topics that may suddenly need attention.

More Information

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Looking for our Meeting Minutes, current roster of participants, upcoming agenda highlights, or more about the committee's mission? Here's how to find out more:

  1. Log into the Learning Commons (Med credentials required).
  2. Under "Medical Student Leadership" on the left menu, click "Student Advisory Council to Med Student Financial Services".
  3. Click "Documents" on the left-hand side.
  4. Begin perusing!

Do you have a passion for personal finance and/or a general interest in assisting Medical Student Financial Services (MedSFS) to be the best it can be? Are you looking to build a comprehensive CV? 

Email SACtoMedSFS@med.uvm.edu for more information.

The exterior of the Given Medical Building during winter, covered in snow.

Additional Resources

There are numerous financial resources available for medical students! Below, you will find a curated list recommended by Student Financial Services to assist you in managing your financial health and wellbeing.

AAMC Financial Wellness Gateway Blog- The Frugal Physician Book Time with Ryan Gates, Assistant Director of Medical Student Financial Services

Contact

Ryan Gates

Assistant Director of Medical Student Financial Services

MedSFS@uvm.edu