“Someone is sitting in the shade today because someone planted a tree a long time ago.” – Warren Buffett
Development of positive financial habits is essential for all students, not just those who borrow student loans. Debt management, understanding your credit, proper budgeting, investing, and wise saving techniques are all part of financial literacy. While student loans certainly play a big role in financial planning for many of our students, all TUSDM students will benefit from a review of basic financial literacy topics.
Below you will find links to handouts that address budgeting, a review of student loan terms and definitions, and the basics of developing good credit. These handouts have been designed to provide a basic foundation of financial knowledge for all TUSDM students.
Learn how to develop an effective and realistic budget. Access tools, tips, and tricks to help you better manage spending during school and beyond. Includes a downloadable budget spreadsheet that will be helpful during school and beyond.
Review the terms of your student loans and plan ahead for repayment and possible loan forgiveness scenarios. Learn how your loans fit into your larger financial portfolio. Includes links to student loan calculators that can help you estimate your monthly payments after graduation.
If you ever want to buy a practice, a house, a car, or any other large purchase in your lifetime, chances are you will need good credit to do so. Learn about the basics of developing good credit, how to repair bad credit, and what you can do to track your credit history.
Identity Theft & Scams – Coming soon!
Identity theft and scams targeting students are an incredibly unwelcome and unfortunate aspect of modern finance. Learn how to recognize the common (and uncommon!) scams target our students, what to do if you are victimized, and how to protect yourself and recover from identity theft.
Free Resources for Further Learning
Want to know more about all-things financial? Review the free (!!) resources linked below for even more information.
- SALT – Financial literacy website developed by the non-profit company American Student Assistance. Free for all TUSDM students. Organize and track your student loans, learn about different financial topics from investing to buying a home, search for scholarships, and contact neutral counselors via email or phone who can answer your questions.
- @TuftsFinAid – Follow us on Twitter! Regular posts about financial topics relevant to our students, including important dates & deadlines, changes to the federal student aid program, and interesting developments in the dental world.
- 360degrees of Financial Literacy – Excellent resource created by the American Institute of CPA’s. Incudes access to topics such as recent related legislation, investing, owning a business, and much more.
- AAMC/ADEA Dental Loan Organizer & Calculator (DLOC) – Excellent student loan calculator/organizer developed specifically for dental students. Upload your loan information directly from the National Student Loan Data System
- Access Group – Non-profit organization dedicated to educating graduate students on wise borrowing and all things financial literacy. Includes a helpful loan calculator and links to helpful booklets that discuss various financial topics.
- Annual Credit Report – Access and review your credit history (or purchase your credit score) from each of the three major credit reporting bureaus in the United States. This website is authorized by federal law and is the only truly free means of accessing your credit history without a prior eligible event.
- Budgeting Spreadsheet – Customizable spreadsheet that walks you through the basics of creating a monthly budget.
- Consumer Financial Protection Bureau – Learn more about money and effective money management/
- Financial Literacy Resource Directory – Published by the U.S. Department of the Treasury. Includes links to federal & private financial literacy resources that cover a wide range of topics, from student loans to saving for retirement and more!
- Find a Certified Financial Planner – Want expert help? This free search engine will help you locate CFP’s in your area. Speaking with a financial planner is highly recommended for graduating students.
- IdentityTheft.gov – Report actual or suspected identity theft, recover from having your identity stolen, and learn how to protect yourself.
- MyMoney.gov – Federal website focused on the five basic tenets of financial literacy: earning an income, borrowing credit, saving and investing, wise spending, and protecting your finances.
- Student Loan Definitions – Glossary of common student-loan related lingo.
Still have questions? Contact the appropriate member of our team!