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Medloans® Organizer and Calculator (MLOC)

The Medloans® Organizer and Calculator was developed to assist medical students and residents with managing their education debt.


Get practical information on budgeting, money management, credit, debt management, and more!

2016 Education Debt Manager (EDM) for Graduating Medical School Students

Use the Education Debt Manager (EDM) to learn about common-sense strategies for managing student loan debt and loan repayment when graduating from medical school.

Can Medical Students Afford to Choose Primary Care?

This Academic Medicine article analyzes whether a physician earning a typical primary care salary can repay the current median level of education debt and meet standard household expenses without incurring additional debt.
young woman at dining room table with laptop, calculator and wallet

The Cost of Applying to Medical School

Before you're accepted to medical school, you'll have some admissions-related costs to plan for, including the AMCAS® application service and the MCAT® exam.


Watch this video to learn how to use the Medloans® Organizer and Calculator (MLOC).

Living on a Resident’s Salary AND Paying Your Student Loans – You Can Do It!

Review this infographic to see how you can live on a resident’s salary, live within a realistic budget, and make a student loan payment.

FIRST Financial Aid Fact Sheets

Read these short articles about common financial aid topics important to pre-med students, current students, and residents.

FIRST Videos and Webinars

Watch videos and webinars to learn about paying for medical school, repaying student loans, and more!

What Programs May Help You Pay Back Your Student Loans

The burden of repaying student loans does not have to be one that you carry alone. Because of your training and expertise, there are numerous repayment assistance and forgiveness options available to you that could lead to a reduction in your debt by tens, thousands or even hundreds of thousands of...

Student Loans and Repayment Strategies for Graduating Medical School Students

Watch the Student Loans and Repayment Strategies recording for graduating students to learn about ways to manage your student loan debt and determine which repayment strategy is right for you during residency.

Match Support

Determine questions to ask yourself, review strategies and actions you may want to implement, obtain information to manage your student loans, and understand where to turn for additional support and resources after the Match.

Can You Afford to Make Payments During Residency?

To determine if you can afford to make payments during residency, watch this video and then access the Medloans® Organizer and Calculator ( to see the results for your situation. After doing this, you will know if making student loan payments during residency is a feasible option...

How to Select the BEST Repayment Plan in Two Steps

If you have federal student loan debt, the good news is that you get to choose how to pay it back, and it takes only two simple steps to pick the best plan for you.

Consolidating Your Federal Student Loans

Borrowers can combine multiple federal student loans into a single Direct Consolidation Loan, making the debt easier to manage. Simpler, though, is not always better, so the decision to consolidate should be made carefully.

Residency and Relocation Loans: To Borrow or Not to Borrow

Fourth-year medical students may encounter a variety of expenses not included in the standard student budget, and may choose to borrow a residency and relocation loan to cover some of their expenses.

Loan Repayment Options

With medical school behind you, you’re certainly due for congratulations. But that’s not all that’s due – loan payback time is just around the corner – either beginning now or when residency is over. Fortunately, when it’s time to repay, you have flexibility in structuring your repayment schedule...

Direct PLUS Loans for Graduate/Professional Students

Direct PLUS Loans are federally guaranteed unsubsidized loans for graduate students who have additional financial need beyond what Direct Unsubsidized Loans cover. In most cases, borrowers are encouraged to use federal loans before turning to private loans to fund educational costs.

Credit Webinar for Medical Students

Listen and watch this credit webinar created for students. The webinar outlines the basics of credit, credit reports, and credit scores.

Is Postponing Payment During Residency a Good Idea?

This webinar includes understanding the many options available during residency - including how to postpone paying, obtain a payment of zero dollars, easy ways to get organized, and general strategies to accomplish your financial goals.

Next Steps

Use this guideline to know when to take the steps to organize your loans, deal with your grace period, determine when to consolidate, apply for a forbearance, or begin repayment on your student loans.

Budgeting Ideas and Tips

Living on a budget as a medical student or resident is an essential step for minimizing the debt you’ll face upon entering repayment. Try to think of a budget the same way you’d think about maintaining a healthy diet: make sensible, responsible choices and you’ll reap the benefits.

Income-Based Repayment (IBR)

This is one of the income-driven repayment plans available to federal student loan borrowers. The plan allows for a reduced monthly payment on most federal student loans – making it a viable option for some borrowers to successfully manage, and afford, their student loan debt.

Transitioning to Medical School: Financial Tips

The FIRST (Financial Information, Resources, Services, and Tools) website can help you make a smooth, successful, and informed transition to medical school. This is probably one of the biggest financial and personal investments of your life. Utilize the resources available to make wise and...

Direct Loans 101

Direct Loans are federal education loans with competitive interest rates and flexible repayment terms. Borrowers should consider maximizing Direct Loan options before borrowing other loans with higher interest rates and/or possibly more stringent terms and conditions.

Consolidation Quiz

Utilize this resource to determine if you should consolidate your federal student loans. Consolidating may have benefits and/or consequences, so do your research before you consolidate.

Postponing Loan Repayment During Residency

There’s a benefit to federal student loans of which you may be unaware, and that’s the ability to temporarily postponing loan repayment through grace, deferment, or forbearance.

AAMC Monthly Loan Payment Estimator for Medical School Borrowers

Charts for Direct Unsubsidized and PLUS Loans display repayment plan options, monthly payments, and the total interest paid for each plan based on a range of debt amounts.

The Effects of Loan Consolidation

Obtain information about what effects may occur if you consolidate your federal student loans. Consolidating may or may not be right for you.

Loan Repayment Timeline

A visual representation of time periods in school, during residency, and after residency, and the related considerations for repaying student loans.

Repayment Plans Compared Chart

Review this chart to see a side by side comparison of the federal student loan repayment plans [Standard, Graduated, Extended, Income-Contingent Repayment (ICR), Income-Based Repayment (IBR), Pay As You Earn (PAYE), and Revised Pay As You Earn (REPAYE)] to determine which repayment plan will work...

Public Service Loan Forgiveness (PSLF): Eligibility and Action Plan

Review informative eligibility details about the Public Service Loan Forgiveness (PSLF) and learn how to enroll in the program.

What is an Award Letter?

An award letter is an official notification from a school where you have been accepted, and outlines your financial aid award package.

Repayment Assistance Through Forgiveness, Scholarships, or Service

Interested in a service career, or want to pay off your medical school debt by working in public service or the military? Good news—there are numerous possibilities available.

Pay for Medical School Through Service

Some students who want to borrow less, or who want to have some or all of their loans forgiven, might want to consider providing medical service for a particular organization, employer, or program after medical school (or licensure).

2016 Education Debt Manager (EDM) for Graduating Medical School Students

Use the Education Debt Manager (EDM) to learn about common-sense strategies for managing student loan debt and loan repayment when graduating from medical school.

Medloans® Organizer and Calculator (MLOC)

The Medloans® Organizer and Calculator (MLOC) was developed to assist medical students and residents with managing their education debt. The MLOC provides a secure location to organize and track student loans while also displaying possible repayment plans and costs based on the borrower’s student...

Should I Refinance My Federal Student Loans?

Answer these questions to reveal if refinancing would benefit your debt situation.

Your Credit Score

You probably already know that the better your credit score, the more likely you are to get approved for your next loan, but did you also know that your score affects the interest rate that the lender charges you?

Starting Salaries for Physicians

Information obtained from the MGMA 2015 Physician Placement Starting Salary Report. The report is based on 2014 survey data for first year post residency or fellowship compensation.

Steps for Making a Big Purchase

Medical students and residents may want or need to purchase a house, a car, or other expensive items before their education or training is complete. With large purchases come valid concerns about student loan indebtedness and limited residency salaries. If large purchases are approached wisely,...

Should You Consolidate?

The following questions and answers may help you determine if loan consolidation is right for you. Consolidating may or may not be right for you, so consider your options.

Income-Driven Repayment Plans and Public Service Loan Forgiveness

Managing federal student loan payments during residency can be difficult, but income-driven repayment plans may offer more manageable payment amounts that could also count towards Public Service Loan Forgiveness (PSLF).

Taking Control of Credit Card Debt

If you are only making minimum monthly payments on your credit cards, you’re doing yourself a huge disservice. Instead, step back, breathe deeply, and take the necessary steps to get your credit card debt under control.

If You Don't Match: Steps to Manage Student Loans

We recognize this is a stressful time in your life and medical education career, and the following is shared in an effort to provide helpful guidance on how to manage your student loan debt in the coming days and year.

Grace, Deferment, and Forbearance

After graduation, you will likely have a grace period on your student loans, but after that time, if making payments becomes a challenge, a deferment or forbearance could be used to help you get through residency without making monthly loan payments.

Public Service Loan Forgiveness (PSLF)

If you aspire to work in the public service sector, you’ll find that the reward is not only emotional – but possibly monetary, as well. That’s because the College Cost Reduction and Access Act of 2007 established a program that forgives some federal student loans under certain circumstances.

You Can Afford Medical School

If you want to be a doctor or physician scientist – they are good career choices, both socially and financially. Although medical school may be expensive, there are options available for financing your education. The key to affording medical school is educating yourself about your choices.

Budgeting Basics: Managing Your Money During the Lean Years

Money will probably be tight during medical school and residency. That’s why a realistic spending plan (budget) – one you can stick to – will be critical to your financial well-being during this time.

The Financial Aid Application Process

While the process of applying for financial aid varies by medical school, here are some universal steps to help you get started. Always check with the financial aid office at your medical school for specific instructions.

Federal vs. Private Education Loans

More so than ever before, both federal and private loans are viable options for financing an education, but it is important for the funding source to be one that best complements the student’s expected career path and financial goals. Medical students face a unique situation with their long...

How to Manage Student Loans During Residency

Listen to this webinar hosted by a panel of AAMC experts answer student loan questions from new and current residents. Topics include: choosing the best repayment plan, postponing payments, and refinancing or consolidating student loans. Also reviewed will be information about Public Service Loan...

How to Select the Best Repayment Plan in 2 Steps

Watch this video to learn about the various loan repayment options and a two-step plan to determine the best repayment plan for you.

Consumer and Federal Financial Aid Resources

Review additional resources, guides, websites, and publications available through various government organizations and programs, such as the National Institutes of Health (NIH), National Health Service Corps (NHSC), the military, and more.

Money Management for Entering Medical School Students

This video explains a common sense approach to borrowing wisely during medical school. It also includes information about student loan repayment options and strategies and tips for managing financial obligations during medical school.

Education Debt Manager (EDM), Fall 2015

Use the Education Debt Manager (EDM) to learn about common-sense strategies for receiving financial aid, managing money, understanding loan debt, and exploring future loan repayment options as a new medical school student.

10 Tips for Managing Your Money During Residency

Obtain various ideas to better manage finances and student loans after medical school.

Public Service Loan Forgiveness (PSLF) e-Book

Learn about the Public Service Loan Forgiveness (PSLF) program with this e-Book that explains eligibility requirements and the steps you will need to take to participate in the program.

NHSC: Students to Service (S2S) Loan Repayment Program

National Health Service Corps (NHSC) offers the Students to Service (S2S) Loan Repayment Program (LRP) to current medical students. In return for providing primary health care full time (3 years) or half time (6 years), the S2S program will award up to $120,000 for loan repayment.

Want To Get Better At Managing Your Money? SALT Can Help!

Managing money is something we all have to do. Some people are better prepared or more experienced than others, but improving your skills and learning new tips are always beneficial skills.

Why Federal Loans Are Better Than Private Loans

Watch this short video to learn why federal loans may be a better borrowing option compared to private loans when applying for financial aid.

When Private Loans Are a Good Idea

Watch this video to understand why some borrowers may choose a private loan over a federal loan even though most financial aid officers will recommend borrowing through federal programs first.

Strategies for Repaying Private Student Loans

Learn about some of the private loan repayment strategies you can use to manage your money wisely.

Borrowing 101: An Introduction to Credit

Your ability to use “credit”—the privilege of buying something now and paying for it later—carries with it many rewards when handled responsibly. Learn what credit is, the benefits you’ll enjoy by having access to credit, and how to manage your creditworthiness.

Roommates and Money

Many people need a roommate to make ends meet. After all, what could be better than having someone pay half of your bills?

Pay As You Earn Repayment (PAYE)

For those who qualify, this plan may allow for one of the lowest possible monthly payments – offering an affordable repayment solution to graduates with student loan debt.

Postponing Payments During Residency

Watch this video for an explanation of how a medical resident can postpone loan repayment throughout residency and what the impact is for using this type of strategy.

The Economics of Residency

Review a synopsis of possible money management options within the financial life of a medical resident during loan repayment.

The Value of an M.D. Degree

Take a look at this video describing the value of pursuing a medical degree and the impact student loans and medical education debt levels have in relation to the value of the degree.

NHSC: Scholarship and Loan Repayment Programs

The National Health Service Corps (NHSC) offers scholarship and loan repayment programs to help with the cost and debt for those pursuing careers as primary care doctors.

Education Tax Incentives

The IRS can help put some of the cost of medical school expenses back in your pocket. Qualifying taxpayers can benefit from tax credits and tax deductions. Three programs are highlighted below, and additional programs are detailed in IRS Publication 970. Choose the program that will benefit you...

Choosing a Specialty: A Critical Career Decision

Your specialty choice is a decision that will affect the rest of your training and the rest of your life. While you should understand the long-term financial implications of your career choices, money is only one of many factors to consider. Luckily, Careers in Medicine® can help you make confident...

Debt Management Relies On Good Record Keeping

Managing your debt effectively and repaying your medical school loans wisely is easier when you keep good records.

Postbaccalaureate Premedical Programs

Some college graduates consider enrolling in or completing a postbaccalaureate premedical program or coursework to be a stronger, more qualified applicant. When researching these programs, make sure to consider any financial implications that may impact your present and future situation.

Identity Theft Protection

The Federal Trade Commission indicates that millions of people have their identification stolen each year. Don’t be part of those statistics! Be proactive and protect yourself.

Unforeseen Emergencies and Financial Needs: What to Do

Occasionally unforeseen emergencies happen that can affect your finances, and your eligibility for financial aid. Financial aid administrators have the authority to make adjustments to your financial aid eligibility, under certain circumstances. If you are experiencing a financial crisis, talk with...

Prepare for Repayment and Prevent Default

Managing federal student loan payments during residency can be difficult, but missing payments can lead to greater financial difficulty. Know your rights and responsibilities so that you can prepare yourself for repayment.

Physician Education Debt and the Cost to Attend Medical School

Physician Education Debt and the Cost to Attend Medical School
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Monthly Budget Worksheet

Utilize this budgeting worksheet to help with money management throughout your medical career and residency.

Medical Student Education: Debt, Costs, and Loan Repayment Facts

Review the FIRST 2015 Debt, Costs, and Loan Repayment Facts, also known as the Debt Fact Card (DFC), to get an idea of the recent graduating class' debt, as well as loan repayment estimates.

Can You Afford Medical School?

This video contains tips to help you prepare to pay for medical school.

Q&A Transcript from Financing Medical School Webinar

Question and Answers transcript from the Financing Medical School Webinar detailing how to successfully manage the costs of applying and attending medical school using some of the AAMC’s resources.

The Cost of Applying for a Medical Residency

While the costs associated with securing a residency may be a relatively minor part of your medical education expenses, they can add up quickly. Since these fees may not be covered by student loans, it is important to try and keep these costs under control.

Medical School Costs for Non-traditional Students

It is possible to finance a medical school degree and repay the student loan debt that you may incur. As a non-traditional student you may have additional choices and details to consider prior to starting medical school; however, there are resources to help you with these decisions along the way.

Taking a Break from Your Medical Education

Some medical students decide to interrupt their medical education to accommodate educational goals or special circumstances. It is important to know how to handle a leave of absence. Carefully consider the ramifications of how such a break in your education may delay graduation or other milestones...

Eight Tips on Money Management for Entering Medical Students

Understanding how to manage your money is critical for financial success. Follow these eight basic tips to start your medical career off right.
young woman smiling, paying monthly bills

10 Tips for Managing Your Money During Medical School

Get tips for money management and wise student loan borrowing during medical school.

Easing into Residency: Transition Tips

While you're looking forward to this next step in your medical career, you may also be experiencing mixed feelings about the decisions that you have to make in a short period of time.

Getting Married During Medical School or Residency

Some students and residents may decide to get married during their education or training periods, and though it is no secret that marriage is a life-changing experience, it is especially important for medical students and residents to understand the ramifications it will have on their finances.