Wayne State University School of Medicine Financial Wellness Advisor Kelli Wright was featured as a financial expert in WalletHub's recent article about student checking accounts.
“When students are looking for a new checking account, I would recommend checking to see if there are fees for minimum balances. If you are unsure if you will be able to maintain a certain balance, look for checking accounts that have no fees. Many institutions offer this,” she said, in an article on the personal finance company’s website.
Wright, along with Associate Director of Scholarship and Financial Wellness Gregory Stolarski leads the School of Medicine’s full-service Office of Scholarships, Debt Management and Financial Wellness, playing a crucial role in supporting student financial well-being throughout the medical school journey.
The office has demonstrably improved student preparedness and financial literacy since its establishment in February 2023. Key achievements include enhanced financial literacy and new financial intervention planning; ongoing support through one-on-one meetings to address financial wellness questions and specific needs; proactive problem solving such as assistance resolving disbursement issues and financial holds, ensuring timely access to financial aid; informative workshops, including 26 events covering financial wellness, budgeting, scholarships, loan forgiveness programs, physician home loan options and student loan repayment strategies; and scholarship distribution.
During the 2023-2024 academic year, $8,736,494 in need-based, merit-based and endowed scholarships were awarded to 1,282 students, an average award of $6,815.
Additionally, graduating students of the Class of 2024 benefited from one-on-one financial wellness meetings, focusing on budgeting, available resources and effective loan repayment strategies, as they prepare for residency. WSU and the Association of American Medical Colleges partnered together to provide the "Repayment Strategies for Graduating Medical Students" financial wellness program for the Class of 2024 with one-on-one meetings available with AAMC experts.
To learn more about, or seek assistance from, the Office Scholarships, Debt Management and Financial Wellness, visit https://www.med.wayne.edu/servicecenter/financial-wellness