Standard Challenges

Students will first register a free account at aamcfinancialwellness.com Each academic term a series of courses offered by the AAMC will be assigned.  The assignments will be communicated via email, posted to the Financial Aid Website and to the Facebook group page.  Each course can consist of learning modules, videos, exercises and an assessment.  Students will have the entirety of the academic term (fall or spring) to complete each course.  Students need to complete at least two of the assigned courses in the fall term before they can earn bonus entries.  In the spring term a student needs to complete one assigned course if they attend a Loan Repayment Session as well.

Participation is tracked and students need not email regarding their completion.

Repaying your federal student loans is a reality all borrowers must face.  While it may feel insurmountable, making a plan in your first, second, third or fourth year will help make the ordeal feel less challenging.  Each year,  during the spring we bring in outside presenters to offer expert information on student loan repayment.  Two presentations are offered.  One is held in March and one in April.  Each lasts approximately one hour and are held after hours on site in the hospital.  Food is provided to all attendees and we ask you register in advance.  Students who register and attend will  receive an entry into the scholarship drawing.  The dates of the presentations will be posted to the Central Hub as well as our Facebook group page and website.

Over the course of the academic year the AAMC will hold webinars covering a wide range of topics.  Previous sessions have included credit, home buying, investment opportunities, insurance and paying taxes.  A full calendar for the academic year is posted to the Central Hub.  Students who register and attend a AAMC webinar will receive an entry in the scholarship drawing.  All you need to do is register for the webinar and  upload a screenshot of the Zoom webinar screen with your screen name clearly displayed.

Bonus Challenges

Understanding your student loans is critical to avoid financial pitfalls, make informed decisions about your future, help you to be a responsible borrower, and effectively manage your debt.  The first step is to gather information.  Ask yourself, "Do I know my loan servicer?  How many loans do I have?  What's my outstanding student loan debt?"  To help you begin to effectively understand and manage your federal student loans we have made a simple form that sets you on the path.  If you complete this Know Your Loans form,  and have already completed the standard challenge requirement you will receive a bonus entry.

Budgeting is important for individuals because it provides a roadmap for managing finances effectively. Budgets allow you to gain control of your finances, achieve financial goals, prepare for emergencies, reduce and manage debt  and reveal hidden spending habits.  By actively managing your finances through budgeting you can build a more secure financial future.  If you don't already have a budget you can use our Build Your Own Budget form.  Remember the standard challenge must be completed first before you can earn a bonus entry for building your own budget.

The AAMC has created a calculator to help medical and dental students and residents manage their student debt and finances.  The MLOC and DLOC calculators and organizers provide a secure location to track student loans and repayment plans.  The tool is an invaluable resource and completion will earn students a bonus entry into the scholarship drawing.  Make sure to complete the Bonus Entry Form and download the PDF of your completed calculator.  Remember all supporting documentation must be submitted via the  secure document upload.   Remember that you must complete the standard challenge before you can earn a bonus entry.

There are numerous external scholarship opportunities students can take advantage of . Fastweb has sections dedicated to dental and medical students specifically, and many other private agencies offer scholarships.  The financial aid office in Storrs also has links to scholarship search engines here. Students who successfully submit an application can earn a bonus entry into the $1,000 scholarship challenge.  To earn the entry please submit the Bonus Entry Form and take a screenshot of the completed application.  The standard challenge must be completed before a bonus entry can be earned.  Remember all supporting documentation is submitted through the secure document upload.

Sometimes it's a good idea to get another person's perspective when it comes to personal finance.  Find a personal finance podcast, listen, write a brief summary with something interesting you learned and submit it along with the Bonus Item Form.  Remember the supporting documentation is uploaded via the secure document upload.

Monthly budgeting is a great tool to manage your money, but it never hurts to dial things down and keep track of weekly spending.  Track your weekly purchases and see if any trends pop up.  Summarize with a few thoughts or important takeaways and submit along with the Bonus Entry Form form.  Remember all supporting documents are submitted via the secure document upload.

Do you know what affects your credit?  How can your raise your credit score?  What pitfalls can your avoid?  Review your credit score and research what you can do to increase your score.  Summarize what you've discovered (we don't need to know your score, just what you've learned) and submit along with a Bonus Entry Form .  Remember all supporting documentation is submitted via the secure document upload.

There's no shortage of news when it comes to financial wellness.  Find a financial wellness article that interests you.  Maybe it's about credit, or tracking spending or investing.  Perhaps you can find an article that talks about how finances affect relationships and mental health .  Write up a short summary, submit it along with a Bonus Entry Form.  The standard challenge must be completed before you can earn a bonus entry.  Remember all supporting documentation is submitted via the secure document upload.