Tailoring Student Loan Counseling to Meet the Needs of Students
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Transcript of Tailoring Student Loan Counseling to Meet the Needs of Students
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Tailoring Student Loan Counseling to Meet theNeeds of Students
May 21, 2013
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Association of American Medical Colleges (AAMC)
• 141 accredited US medical schools– Approx. 75,000 med students
• 17 Canadian medical schools• 400 Teaching hospitals • 90 academic societies
Washington DC based not-for-profit representing:
Our Mission: The AAMC serves and leads the academic medicine community to improve the health of all
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Our Audience = Medical School Students and Residents
• Fewer of them to reach• LCME accreditation standards include debt
management counseling• Slightly more mature audience• Strong job prospects• Higher starting salaries• Much higher debt
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Medical Education Debt 2012
• Median Education Debt $170,000
• 86% have debt
• 36% have $200,000 or higher
Data includes medical and premedical/undergraduate debt
Source GQ
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Financial Information Resources Services and Tools (FIRST)
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FIRST Resources
aamc.org/FIRST
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FIRST Resources
aamc.org/FIRST
• Onsite debt management, financial literacy, exit/entrance sessions
• Downloadable presentations for FAO’s to use with students/residents
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FIRST Resources
• Onsite debt management, financial literacy, exit/entrance sessions
• Downloadable presentations for FAO’s to use with Students/Residents
• Medloans® Organizer and Calculator
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“Can Medical Students Afford to Choose Primary Care? An Economic Analysis of Physician Education Debt Repayment”
“Physician Education Debt and the Cost to Attend Medical School”
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What Have We Learned?
• Adjust, adjust, and then adjust some more
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What Have We Learned?
• Adjust, adjust, and then adjust some more
• It takes constant attention
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What Have We Learned?
• Adjust, adjust, and then adjust some more
• It takes constant attention
• You don’t have to reinvent the wheel
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What Have We Learned?
• Adjust, adjust, and then adjust some more
• It takes constant attention
• You don’t have to reinvent the wheel
• Seek continual feedback from your audienceo Analyticso Focus Groupso Surveys
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Adjustments Made Based on Feedback
• SHORT bursts of information
• Removed the online Exit/Entrance – added modules
• Only requires registration and log-in if you want to save your info or verify completion
• Individualized services/attention
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• Lots of great resources
• Really hard to find
• Financial Aid Toolkit
Adjustments Made Based on Feedback
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“An investment in knowledge always pays
the best interest”
Julie A. FresneDirector, Student Financial [email protected]/FIRST
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Tailoring Student Loan Counseling to Meet theNeeds of Students
May 21, 2013
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Strategies
Engaging the Student
Providing interactive tools
Going beyond regulatory requirements
Keeping students informed
Seeking new ideas
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Engaging the student
Blended approach Technology
Student as teacher Gamification
Engaging the Student
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Engaging the student
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Engaging the student
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•Calculators•CareerShip•PowerWallet
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Providing interactive tools
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Providing interactive tools
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PowerWallet
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Content and techniques strategies include:
•More information and more often •Online and in-person• Self-administered quizzes online• Student as teacher
Going beyond regulatory requirements
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Online Counseling
22 sessions
Customized pages
Report options
Printable materials
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• Financial Literacy• Grace Period and
Repayment• Loan Management• Non-Traditional • Private Loan
Non-regulatory Counseling
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Content and techniques strategies include:• Newsletters• Social media• MappingYourFuture.org• Printed materials
Keeping students informed
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Keeping students informed
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• Connections• Feedback• Webinars/Webinars on-demand• Assessing success• Professional development
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Seeking new ideas and tips
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http://usatoday30.usatoday.com/money/perfi/basics/story/2012-04-23/millenials-financial-nowledge/54494856/1?dlvrit=206567
http://www.acus.org/event/financial-literacy-skilled-futurehttp://voices.washingtonpost.com/answer-sheet/learning/why-fun-matters-in-education.htmlhttp://net.educause.edu/ir/library/pdf/ELI0525.pdfhttp://www.marketingprofs.com/articles/2011/5791/snackable-content-the-key-to-engagementhttp://www2.ed.gov/pubs/EdReformStudies/EdTech/effectsstudents.htmlhttp://www.pbisworld.com/tier-2/reward-system/http://mazur.harvard.edu/research/detailspage.php?rowid=8http://www.kumondallas.com/articles/The%20Value%20of%20Repetition.pdf
Resources and credits