Money Management for Undergraduates

 Test Your Knowledge...It's Quick and Easy!

 Mapping Your Future’s 12-step financial literacy online counseling session will provide you with some basic financial knowledge that will guide you on the path to financial success.

The National Endowment for Financial Education developed the cashcourse.org web site specifically to help college-age students on campuses across the country. Money management skills and access to personal financial planning resources are necessary for college students to build a healthy financial future. We are pleased that we can offer this important resource to our students.

• 40 Money Management Tips Every College Student Should Know-
• Worksheets to help you organize your finances:
  •  Apartment Features Worksheet
  •  Emergency Funds Worksheet 
  •  Financial Goals Worksheet 
  •  How to Balance Your Bank Account Worksheet 
  •   Income Versus Expenses Worksheet 
  •  Job Application Worksheet
  •  Moving Checklist 
  •  Needs Versus Wants Checklist 
  •  Pet Expense Worksheet

MyMoney.gov is the U.S. government's website dedicated to teaching all Americans the basics about financial education.

New Legislation

President Obama signed the American Recovery and Reinvestment Act (ARRA) into law on February 17, 2009. The purpose of the Act (known as the Stimulus Bill) is to preserve and create jobs; promote economic recovery; assist those most impacted by the recession; provide investments needed to provide long-term economic benefits; and to stabilize state and local government budgets.

 The stimulus bill is notable not just for funding increases for student aid, but for a significant increase in refundable tax credits for 2009 and 2010. Refundable credits mean taxpayers may receive refunds even when they do not owe any tax, allowing low income students who have no tax liability to benefit. Read more about these changes

 Most provisions in the Credit CARD Act of 2009 are effective February 22, 2010. The reform legislation, signed by President Obama in May 2009, place new restrictions on credit card fees and interest rate policies. Read More about these changes

 Additional Online Counseling Tools from Lenders/Guaranty Agencies:

The Education Finance Council (EFC) is an association of nonprofit and state-based student loan providers. These public purpose organizations are dedicated to the single purpose of making college more affordable. Check their page on Financial Literacy Resources.

Louisiana's Office of Student Financial Assistance's Financial Literacy for You ("FLY")Program provides online brochures on a wide variety of topics.

Mapping Your Future offers an online life skills and financial literacy game at Show Me the Future 

The Texas Guaranteed Student Loan Corporation offers Adventures in Education, a comprehensive site with dedicated pages for students of all ages.

ED FUND and UCLA developed the ED WISE® Online Financial Planning Guide in a collaborative effort to provide a useful loan management tool for students

Sallie Mae offers the Be Debt Savy, a comprehensive website designed to help families plan for paying for college.

National Student Loan Program offers a new Financial Literacy Online program.

Other Information

• Why Is Your "Credit Score" Important?
• Personal Banking Resources
• Avoiding Identity Theft
• How Undergraduate Students Use Credit Cards -
  

  Sallie Mae's  study  examined the credit-bureau reports for a randomly selected group of 1,200 applicants for private student loans. The study also used self-reported information from 249 private-student-loan applicants who responded to a survey.

Updated April 20, 2013