UM - Miller School of Medicine University of Miami - Miller School of Medicine

Educational Debt Management

Every Student Every Year

The Miller School of Medicine through the Office of Financial Assistance offers a comprehensive educational debt management program designed to help students not only borrow responsibly but repay responsibly as well after they graduate and move into their residency programs. The Miller School of Medicine is committed to ensuring that all students who borrow at the Miller School of Medicine have access to the finest educational debt management help available, and that they are well versed in proven repayment strategies to help them effectively manage their student loan obligations after they leave the Miller School of Medicine.

Our “Every Student Every Year” program is designed to do just that, and so each year, you will be required to participate in at least one of the offered educational debt management programs to ensure our compliance and your compliance with this program. The OSFA will keep track of your participation each year.

Please also note that all seniors who have received educational loans are required to participate in an exit interview prior to graduation. This includes an online exit interview as well as attendance at an in-person workshop provided prior to graduation designed specifically for seniors.

There are a number of excellent resources that are part of the “Every Student Every Year” program.
These include:

• Short, topical, recorded PowerPoint repayment modules as part of our Video Library
• In-person, dynamic workshops offered as “Lunch and Learn” sessions
• Personal consultations with Paul Garrard of PGPresents during campus visits
• Copies of all presentation slides
• One-pagers on various student loan repayment topics

To schedule a personal debt management counseling session, feel free to drop by our office or call us at 305-243-6211.

___________________________________________________________________________

Financial Assistance Video Library

The following are recorded PowerPoint presentations sponsored by the Office of Student Financial Assistance. We strongly encourage you to view these short, topical modules before scheduling any personal consultation to discuss your student loans. We also encourage you to view them in order, as the content builds from slide to slide, and often content in one slide is based on information covered in an earlier slide.

Repayment Modules

Please view the Introduction to Modules first, before proceeding.

Module 00 Introduction
Module 01 Common Sense Steps to Repayment Strategy
Module 02 Repayment Plans for Federal Loans
Module 03 Income Driven Repayment Plans
Module 04 PAYE versus REPAYE
Module 05 Married Borrowers and Repayment
Module 06 $0 IDR Payments During PGY-1
Module 07 Repayment Calculators
Module 08 Public Service Loan Forgiveness
Module 09 How to Enroll in PSLF and Tracking Payments
Module 10 Postponing Payments during Training
Module 11 Federal Consolidation
Module 12 Refinancing with a Private Lender
Module 13 You Didn’t Match, Now What

___________________________________________________________________________

Upcoming Presentations

Tuesday, September 15, 2020 at NoonCANCELLED (to be rescheduled)
Student Loan Update for 1st Year MD Students
Offered with ZOOM, this informal and interactive online workshop will focus on how to finance your medical education at Miller. Topics to be covered include: your cost of attendance (COA), educational debt and details on your student loan portfolio with specifics of Direct Unsubsidized and Direct PLUS (Grad PLUS) loans, updates on proposed changes to student loans and repayment programs, Public Service Loan Forgiveness, and a look at how medical residents are managing their student loans during training. We will also look at the CARES Act and recently signed executive order and their impact on your student loans.
Watch for an email from the Office of Student Financial Assistance with the ZOOM link.
Your participation will count as your required annual participation in Miller’s “Every Student Every Year” educational debt management program.

Wednesday, September 16, 2020 at NoonCANCELLED (to be rescheduled)
Income Driven Repayment Plans and Public Service Loan Forgiveness
Offered with ZOOM, this informal and interactive online workshop will focus on how repayment plans tied to income really work, with emphasis on both their short-term and long-term implications for borrowers. We will also look at how to choose between PAYE and REPAYE. We will then tie these repayment plans to Public Service Loan Forgiveness (PSLF) and provided details on how to qualify for PSLF, as long as providing program updates.
Watch for an email from the Office of Student Financial Assistance with the ZOOM link.
Your participation will count as your required annual participation in Miller’s “Every Student Every Year” educational debt management program.

We will reschedule these workshops as soon as possible, and we anticipate offering another set of workshops in January 2021. The Office of Student Financial Assistance welcomes your suggestions for student loan workshop topics. Please contact the Office of Student Financial Assistance at 305.243.6211 if you have any questions or suggestions.

___________________________________________________________________________

Previous Presentation Slides

June 30, 2020 at Noon
Student Loan Update for 1st Year MD/MPH Students
Offered with ZOOM, this informal and interactive online workshop will focus on how to finance your medical education at Miller. Topics to be covered include: your cost of attendance (COA), educational debt and details on your student loan portfolio with specifics of Direct Unsubsidized and Direct PLUS (Grad PLUS) loans, updates on proposed changes to student loans and repayment programs, Public Service Loan Forgiveness, and a look at how medical residents are managing their student loans during training.

July 1, 2020 at Noon
Student Loan Update for 3rd Year MD/MPH Students
Offered with ZOOM, this informal and interactive workshop will provide updates on proposed changes to student loans and repayment programs, Public Service Loan Forgiveness, Income Driven Repayment plans, and a look at how to start determining the best repayment strategy based on your debt level, residency, career plans, and overall repayment objectives

___________________________________________________________________________

Quick Reference Guides

AAMC Medloans Organizer and Calculator (MLOC) FACT SHEET
Financing Your M.D. Degree
Repayment Calculator Quick Reference
Simple Steps to a Repayment Strategy
Income Driven Repayment Comparison

___________________________________________________________________________

Other Resources

http://www.AAMC.org/FIRST

• Multiple resources from the AAMC, including access to the Medloans Organizer and Calculator
• Highly recommend site for medical students

StudentAid.gov

• Federal database of all federal loans set up as a dashboard, including your loan servicer
• Loan Simulator (online calculator) at StudentAid.gov/loan-simulator
• Information on Public Service Loan Forgiveness at StudentAid.gov/publicservice