1. WELCOME 2013 Future Impact Program A Financial Program for Fourth Year IUSM Medical Students March 2, 2013

2. Educational Debt Management Options During Residency

3. Repayment Plans

4. Grace Period of time following graduation when you are not required to make payments on your loans It is Automatic, you do not have to apply. It must be used first before any other options to delay repayment can be activated. Subsidized loan interest is paid by the Federal government making the loan essentially interest-free to the borrower during grace. Unsubsidized loans that includes the Federal Unsubsidized Stafford Loan and the Federal Graduate PLUS Loan continue to accrue interest during the grace period. Availability and duration is loan specific. For example, the Federal Stafford Loan grace period is 6 months after graduation, Federal Perkins Loan is 9 months, and 1 year grace for the Cunnison, LDS and PCL loans. Accrued Interest Capitalizes at the end of the Grace Period.

5. The most feasible options during residency Pay Later (using forbearance) Pay Now (using Income-Based Repayment or Pay As You Earn)

6. Forbearance Mandatory Medical Internship/Residency Forbearance - Used to postpone payments - Requested annually from the servicer - Interest accumulates on Stafford sub and unsub loans - Interest on Grad PLUS Loan continues to accrue - Continuous periods may avoid capitalization

7. Income-Based Repayment Benefits Partial interest subsidy during the first 3 years Unpaid interest does not capitalize when: Annual paperwork is filed timely Borrower demonstrates a PFH Possible Loan forgiveness after 25 years Payment based on ((AGI – 150%) X 15%) / 12 Income as reported to the IRS. Annual verification required of both AGI and family size.

8. QUICK LOOK UP CHART FOR IBR

9. Pay As You Earn (PAYE) Benefits Must not have borrowed prior to 2007. Unpaid interest does not capitalize when: Annual paperwork is filed timely Borrower demonstrates a PFH Possible Loan forgiveness after 20 years Payment based on ((AGI – 150%) X 10%) / 12 Income as reported to the IRS. Annual verification required of both AGI and family size.

10. QUICK LOOK UP CHART FOR PAYE

11. Income-Based Repayment

12. Public Service Loan Forgiveness http://www.finaid.org/calculators/ibr.phtml

13. Terms and Conditions What is considered Public Service? Non-profit, tax exempt, 501[c](3) organizations Federal, State or Local Government Military Service Public Schools and Colleges

14. QUICK HOSPITAL LOOK UP - http://www.ahadataviewer.com/ http://www.ahadataviewer.com/

15. Other Loan Forgiveness Programs

16. Other Alternatives to Debt Repayment Army National Guard Medical Opportunities Army Reserve Incentive Program (STRAP) Army Active Duty Incentive Program (FAP) Other military Programs (Navy, Air Force)