Students are encouraged to take a proactive approach to managing their student loans. Knowing what you have borrowed can inform the financial decisions you make as your progress through your medical education. To that end, there are tools available to you to help in the organization and management of your student loans.
First, the AAMC offers for your use thier Medloans Organizer and Calculator (MLOC). This tool provides students with a secure location to organize and track student loans. Moreover, students can view possible repayment plans and costs associated with the loans based on the borrower’s individual student loan profile. For more information about this tool and other resources available to you to help you take control of your finances, please refer to the AAMC’s website.
Second, all students at USC are provided a free account with iGrad, a free and unbiased nonprofit-backed education program dedicated to giving students financial knowledge that will serve them both in and out of college. Like the AAMC’s Medloans Organizer and Calculator, iGrad allows students to upload their student loan portfolios from NSLDS so that they are able to organize and track their loans and explore the various repayment strategies that are at their disposal.
The main thing to keep in mind is that it is never to your benefit to ignore your student loans. Understanding what you have borrowed and how that will impact you in the future could lead to better financial decisions in the present and will, most definitely, serve as a foundation for wise financial habits in the future.
If you would like to discuss your loans, please feel free to make an appointment with our office.