Graduating Students and Residents

Graduation Year Monthly To Do List

January and February:
  • Gather tax information (W2s from employer, 1098-E from loan servicer)
  • Submit Residency Applications and Related Expense receipts to OFA
  • Prepare and file tax returns  for Income Based Loan Repayment plan
March:
  • Receive Office of Financial Aid Director memo of upcoming events
  • Debt Profiles emailed to students
  • Attend Fourth Year Repayment Workshop
  • Set up account with servicer
April:
  • Verify loan debt via nslds/debt profile/credit report
  • Begin discretionary income budget for first year of Residency
  • Complete online exit counseling
  • Set up loan repayment meeting with OFA
May:
  • Complete online exit counseling if you haven’t already done so in April
  • Attend Public Service Loan Forgiveness Workshop
  • Schedule loan repayment meeting with OFA/Brown Loan Office  
  • Consider PSLF if you will be employed by qualified employer
  • Sign up for an IBR plan
  • Consider consolidating loans
  • Make copy of diploma for future use
June:
  • Make your first private loan payment
  • Use grace period for pre-med debt?  First federal loan payments due?
  • Finalize discretionary income budget
  • Consider employer retirement plan
  • May lose brown.edu email – transition to your_name@alumni.brown.edu

July and August:
  • Review first paycheck for expected deductions and update discretionary budget with actual figures
  • Maintain contact with servicer and provide updated address and email
September – October:
November - December:
  • Evaluate first monthly loan payment due in December
  • Begin federal loan payments

Helpful Links for Resident Years

AAMC Financial Aid Survival Kit for Graduating Students and Residents 

Loan Chart 

Public Service Loan F&Qs 

Public Service Loan Forgiveness Application

Deferment and Forbearance Chart

Mortgage Approval Checklist

Federal Direct and PLUS Loan Repayment Plans Chart