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Tailoring Student Loan Counseling to Meet the Needs of Students. May 21, 2013. Association of American Medical Colleges (AAMC). Washington DC based not-for-profit representing:. Our Mission: The AAMC serves and leads the academic medicine community to improve the health of all. - PowerPoint PPT Presentation
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Tailoring Student Loan Counseling to Meet theNeeds of Students
May 21, 2013
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
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
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
Financial Information Resources Services and Tools (FIRST)
FIRST Resources
aamc.org/FIRST
FIRST Resources
aamc.org/FIRST
• Onsite debt management, financial literacy, exit/entrance sessions
• Downloadable presentations for FAO’s to use with students/residents
FIRST Resources
• Onsite debt management, financial literacy, exit/entrance sessions
• Downloadable presentations for FAO’s to use with Students/Residents
• Medloans® Organizer and Calculator
“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”
What Have We Learned?
• Adjust, adjust, and then adjust some more
What Have We Learned?
• Adjust, adjust, and then adjust some more
• It takes constant attention
What Have We Learned?
• Adjust, adjust, and then adjust some more
• It takes constant attention
• You don’t have to reinvent the wheel
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
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
• Lots of great resources
• Really hard to find
• Financial Aid Toolkit
Adjustments Made Based on Feedback
“An investment in knowledge always pays
the best interest”
Julie A. FresneDirector, Student Financial [email protected]/FIRST
Tailoring Student Loan Counseling to Meet theNeeds of Students
May 21, 2013
Page 19
Strategies
Engaging the Student
Providing interactive tools
Going beyond regulatory requirements
Keeping students informed
Seeking new ideas
20
Engaging the student
Blended approach Technology
Student as teacher Gamification
Engaging the Student
Page 21
Engaging the student
Page 22
Engaging the student
•Calculators•CareerShip•PowerWallet
Page 23
Providing interactive tools
Page 24
Providing interactive tools
Page 25
PowerWallet
Page 26
27
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
Page 28
Online Counseling
22 sessions
Customized pages
Report options
Printable materials
• Financial Literacy• Grace Period and
Repayment• Loan Management• Non-Traditional • Private Loan
Non-regulatory Counseling
Page 29
30
Content and techniques strategies include:• Newsletters• Social media• MappingYourFuture.org• Printed materials
Keeping students informed
31
Keeping students informed
• Connections• Feedback• Webinars/Webinars on-demand• Assessing success• Professional development
Page 32
Seeking new ideas and tips
33
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
