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Iowa City, Iowa 52242-2600
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It’s a fact that educational debt is an ever increasing part of most health professional students ’ lives. As a medical student, loans and other credit are relatively easy to obtain but how you manage your student debt will have an impact on you for many years after medical school. It’s demoralizing to face the prospect of years of cash flow problems after graduation because of high educational debt levels.
It’s important for you to borrow prudently and manage your finances well so that you don’t borrow more than you need. Estimating your school and personal expenses, and developing strategies (like budgeting) to meet those costs is the first step in developing sound financial management practices. The earlier you can identify potential financial resources, like scholarships, grants or favorable loans, the better your chances are of obtaining them. The better informed you are about options for borrowing money and strategies for managing your debt, the less likely you are to over-extend your ability to repay your loans. Managing your lifestyle now means you should not have to manage a large debt later.
The Financial Services Department can assist you by providing basic information and counsel you on financial issues you may encounter throughout school, residency and early career. Please contact us if you have questions or need help with financial matters.
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