Drexel University College of Medicine Financial Planning Services

Financing a medical education requires a great deal of planning and knowledge about resources. Students are encouraged to begin looking at the financial responsibilities of medical school as early as possible.

Download the Office of Financial Planning info sheet [PDF]

Drexel University College of Medicine has a financial planner on staff full time to assist all students and their families with counseling and financial planning during and after their med school years. This service is designed to address the student's entire financial picture beyond financial aid.

View the latest financial planning news and updates

The financial planning service at Drexel University College of Medicine provides knowledge and support so that our students can have the strongest financial foundation as they pursue their education, residency and practice.

Financial planning topics addressed include:

Debt
Budget
Credit
Marriage
Children
Taxes
Insurance
Mortgage
Wills
Risk
Retirement
Special Needs

About Personal Financial Planning

Personal financial planning is a series of steps used by an individual to reach an overall financial goal (e.g., financial independence) or set of intermediate goals (new home purchase, pay for college, etc.). This often includes a budget that organizes an individual's cash flow, identifying all sources of income and expenses as well as saving for future expenses.

Financial Planning Process

Identify Goals – What financial goals are you trying to accomplish?
Gather Data – Set budget figures, including asset and liability information.
Analyze Information – Consider alternatives and choices.
Develop Plan – Create action steps and time-frames.
Take Action – Implement your plan step by step.
Review – Analyze your results to keep on track towards your goals.

Michael R. Clancy, MBA, CFP®, CLU, director of financial planning, is available for one-on-one personal financial planning sessions.

Book an appointment

Scholarships and Loan Forgiveness Programs

Drexel University College of Medicine Resources

Financial Planning News and Announcements

Recent legislation has resulted in changes to student loan repayment plans. Some changes take effect immediately, while others will be enacted over time. The new Repayment Assistance Plan will not become effective until July 1, 2026.

The Pay as You Earn (PAYE), Income-Contingent Repayment (ICR) or Saving on a Valuable Education (SAVE) plans will all be sunset by July 1, 2028. In addition, as of August 2025 those on the SAVE plan are being charged interest.

For the latest on federal student loan repayment options, visit studentaid.gov.

Need Help?

The Office of Financial Planning can assist you with questions about your student loans or any other aspect of personal finance. Please contact Michael R. Clancy, MBA, CFP, CLU, director of financial planning, at mrc324@drexel.edu or 215.991.8595. If you would like to schedule an appointment, use the schedule link. Click on either the Consultation box or the West Reading Campus options to view available appointments.