Kelly Wright, financial wellness advisor at Wayne State University School of Medicine, was featured as a financial expert in a recent WalletHub article about student checking accounts.
“When students are looking for a new checking account, we recommend checking to see if there are any fees for minimum balances. If you’re not sure whether you can maintain a certain balance, look for a checking account with no fees, which many financial institutions offer,” she said in an article on the personal finance company’s website.
Wright, along with Associate Director of Scholarships and Financial Wellness Gregory Stolarski, lead the School of Medicine’s full-service Office of Scholarships, Debt Management and Financial Wellness, which plays a key role in supporting students’ financial wellness during their time in medical school.
The office has made visible advances in student readiness and financial literacy since its launch in February 2023. Key accomplishments include improved financial literacy and new financial intervention plans, ongoing support with one-on-one meetings to address financial wellness questions and specific needs, and proactive resolution of such issues. Assistance with resolving payment issues and withheld funds, ensuring timely access to financial assistance, informative workshops, etc. 26 events covering financial health, budgeting, scholarships, loan forgiveness programs, mortgage options for physicians, student loan repayment strategies, scholarship distribution and more.
In the 2023-2024 academic year, 1,282 students were awarded a total of $8,736,494 in need-based, merit-based and endowed scholarships, with an average award of $6,815.
Additionally, the Class of 2024 benefited from one-on-one financial wellness meetings focused on budgeting, available resources and effective loan repayment strategies as they prepare for residency. WSU and the Association of American Medical Colleges have partnered to offer the “Repayment Strategies for Graduating Medical Students” financial wellness program for the Class of 2024, which also offers one-on-one meetings with AAMC experts.
For more information and support regarding scholarships, debt management and the Financial Wellness Office, please visit https://www.med.wayne.edu/servicecenter/financial-wellness
