College is a time of new found freedom for many students. But that can spell trouble
if that freedom applies to personal finances too. Students need to understand basic
money management skills such as living within a budget and handling credit and debt.
A solid financial foundation can lead to a lifetime of financial success. We want
to provide students with some helpful tips for being financially literate.
Cashier's Office is committed to providing resources for our students in financial literacy education and how to pay for college. The sound, financial resources available on this website are here to promote a lifetime of learning. We provide information about credit, budgeting, and savings. These links will help students gain a better understanding of how credit works, the importance of budgeting and saving, how to budget and save, etc. In addition, students will be able to access useful links that will further expand their knowledge and resources with budgeting and savings, accessibility to financial calculators, and providing more links to financial literacy websites.
Today, more than ever before, it is critical to understand basic financial concepts. The Cashier's Office is partnered with SALT, a resource designed to help students understand how to navigate overwhelming financial topics. SALT allows students to contact experts for guidance about managing your loans, provides students with information about scholarships, provides courses to help inform students about: banking, budgeting, credit cards, student loan repayment, etc, and overall provide valuable resources students can benefit from.
Here are some startling financial facts:
- 43% of American households spend more than they earn each year
- Average families carry $15,788 of credit card debt
- Most undergraduate students graduate with close to $20,000 in student loan debt. The differences are not that significant between public and private colleges anymore.
Source-MSN Money and Collegescholarships.org