Financial Literacy & Debt Management

Financial Literacy Curriculum & Individual Counseling 

UNC COM is committed to helping students make informed financial decisions throughout medical school and beyond. 
The Office of Admissions and Enrollment Services delivers a comprehensive Financial Literacy Curriculum spanning all four years, covering topics such as: 

• Financial behavior and decision-making 
• Budgeting and goal setting 
• Economic concepts and taxes 
• Asset protection and insurance 
• Debt management and repayment strategies 

In addition, all COM students are required to meet individually with a financial aid specialist each semester to review their budget, discuss financial concerns, and plan for upcoming expenses. 

Budgeting for Medical School 

Creating and maintaining a realistic budget is essential to minimizing debt. Students are encouraged to: 

• Track monthly living and academic expenses 
• Anticipate costs related to clinical rotations and board exams 
• Align spending with their Cost of Attendance and personal financial goals 

The Office of Financial Aid provides budgeting tools and sample templates to help students manage expenses responsibly. 

Loan Repayment Options 

After graduation, medical students have several federal repayment plans designed to fit different career paths and income levels. Common options include: 

• Standard Repayment Plan 
• Graduated Repayment Plan 
• Income-Driven Repayment (IDR) plans such as SAVE, PAYE, REPAYE, and IBR 

Learn more about federal repayment plans at studentaid.gov/manage-loans/repayment/plans. 

Exit Counseling & Repayment Resources 

Before graduation—or any time a student leaves UNC—borrowers must complete Exit Counseling at studentaid.gov. 
This required process ensures students understand: 

• Their loan repayment responsibilities 
• Available repayment plan options 
• How to identify and contact their loan servicer 

The COM Office of Admissions and Enrollment Services also offer individual consultations to help students prepare repayment and manage financial transitions during residency. 

Loan Forgiveness & Repayment Assistance 

Graduates pursuing careers in primary care, rural medicine, public health, or nonprofit practice may qualify for loan forgiveness or repayment assistance through state or federal programs, including: 

• Public Service Loan Forgiveness (PSLF) – forgiveness after 10 years of qualifying payments while working in eligible public service positions 
• State-based loan repayment programs for service in rural or underserved areas 

Students are encouraged to explore these programs early and discuss eligibility with a financial aid specialist.