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Step 8: Know and Use Your Support Systems

Step 1: Know what you borrowed, from whom you borrowed, and who services the loans.

Step 2: Know the "relative cost" of your student loans.

Step 3: Know your grace periods, deferment options, and forbearance options.

Step 4: Know your "decision points" and keep a calendar.

Step 5: Run the numbers before choosing a repayment option or consolidating your student loans.

Step 6: Commit to keeping good records.

Step 7: Keep a budget and know when you need the help of a financial professional.

Step 8: Know and use your support systems.

More than ever before, medical school borrowers have access to support services in residency to help them manage their student loans. The AAMC's FIRST for Medical Education program offers a comprehensive suite of financial aid and debt management tools and resources for medical school and beyond. In addition, the following offices and organizations are resources for you as you manage your education loans during residency and into practice:

your medical school financial aid office
your loan servicer(s)
debt management services for residents offered by some medical school financial aid offices that are part of medical centers and teaching hospitals
U.S. Department of Education Ombudsman
U.S. Department of Health and Human Services
AAMC's FIRST for Medical Education

The AAMC's Careers in Medicine program may also help you.

Careers in Medicine is a career planning program designed to help you choose a medical specialty and a residency. However, even at this stage of your career, if you are second-guessing your choice and have questions about changing specialties, you may find the many resources on the Careers in Medicine web site helpful.

You must be registered to use the CiM site. For help in accessing the password-protected web site, contact careersinmedicine@aamc.org