More Colleges Offer Financial Literacy Programs


September 4, 2008
by Scholarships.com Staff
For many students, the college experience can be a financial minefield.  Even if they manage to avoid the lure of blowing their financial aid check on a plasma TV or a brand new car, there are thousands of other potential pitfalls.  These include the credit card companies lining the main drag of campus offering free college t-shirts to anyone who signs up for their card; your first dorm or apartment to outfit and decorate; and then all of the opportunities for shopping, dining, and entertainment that a college town provides.  And we haven't even gotten to the actual act of paying tuition yet!  Even if your scholarship search was fruitful and you were able to find money for college, there's still the chance of overspending and winding up turning to less wise solutions to make it to the end of the term.

For many students, the college experience can be a financial minefield.  Even if they manage to avoid the lure of blowing their financial aid check on a plasma TV or a brand new car, there are thousands of other potential pitfalls.  These include the credit card companies lining the main drag of campus offering free college t-shirts to anyone who signs up for their card; your first dorm or apartment to outfit and decorate; and then all of the opportunities for shopping, dining, and entertainment that a college town provides.  And we haven't even gotten to the actual act of paying tuition yet!  Even if your scholarship search was fruitful and you were able to find money for college, there's still the chance of overspending and winding up turning to less wise solutions to make it to the end of the term.

So how are students supposed to survive college without unnecessary credit card or student loan debt?  Many schools are offering money management courses and one-on-one financial counseling services to help students be more judicious with their college funds.  I can certainly think of some lessons I could've used as an undergrad, like "3 AM is not dinner time," its corollary, "espresso is not an adequate substitute for sleep," and of course, "you don't have to buy it just because it's on sale."  Being forced to budget out just how much that 10-block drive to class (plus the 15 minutes of circling the "good" parking lot for a spot) actually cost me that last year of school would've also been helpful.

Now students at numerous colleges in several states can choose to educate themselves and avoid learning similar life lessons the hard way.  Unfortunately, many of these programs go under-publicized and under-utilized, as budgeting honestly isn't fun, and many students may be afraid that setting a budget means giving up their college lifestyle, staying at home, and having to go on a budget diet.  However, the Chronicle of Higher Education suggests that students can benefit immensely from financial literacy courses, and anecdotal evidence suggests these students take on less debt and have an easier time transitioning into the "real world" after graduation.  Courses are often offered to incoming freshmen or graduating seniors, with counseling services typically being made available to any students currently attending college.  If you're interested in finding out about how to stretch your college fund, student loans, or scholarship money further, check with your college to see if they offer any of these services.

Just because there are millions of college scholarships out there doesn’t mean you have time to go searching, and many won’t even match your profile. We’ve done the work and Scholarships.com is totally free. We have the search algorithms and scholarships database, saving you time in searching, finding and applying to thousands of dollars in college scholarships. Get instantly matched to scholarships that meet your unique talents, skillset and strengths, only those you qualify for. Access a complete list of college scholarships now by conducting a free college scholarship search at Scholarships.com.

Discuss

Share your thoughts and perhaps thousands of students will benefit from your unique insight on the subject!



If you can read this, don't touch the following fields


 
The U.S. government set up a fake Michigan university as part of a sting operation to catch visa fraudsters. Agents of Immigration and Customs Enforcement (ICE) secretly established the University of Farmington, enrolling more than 600 students studying science and technology in a pay to stay” scheme. As a result, roughly 250 students have been arrested on immigration violations.

"U of Farmington" Fraudsters Prosecuted, Deported

December 10, 2019 4:35 PM
by Susan Dutca-Lovell
The U.S. government set up a fake Michigan university as part of a sting operation to catch visa fraudsters. Agents of Immigration and Customs Enforcement (ICE) secretly established the University of
 E-tail giant Amazon is now accepting applications to its Amazon Future Engineer Scholarship Program for students entering college in the fall of 2020. The scholarship program offers 100 current high school seniors from underserved and underrepresented communities across the country the opportunity to receive $40,000 scholarships to study computer science at a four-year college or university and a guaranteed paid internship offer at Amazon after the completion of their first year.

Amazon Offers $40K Future Engineer Scholarships

November 6, 2019 1:41 PM
by Susan Dutca-Lovell
E-tail giant Amazon is now accepting applications to its Amazon Future Engineer Scholarship Program for students entering college in the fall of 2020. The scholarship program offers 100 current high
In response to the NCAA's vote to allow athletes to profit from their names, images and likeness, Senator Richard Burr of North Carolina has proposed taxing those scholarships. Senator Burr tweeted: If college athletes are going to make money off their likenesses while in school, their scholarships should be treated like income. I'll be introducing legislation that subjects scholarships given to athletes who choose to 'cash in' to income taxes.

NC Senator Proposes Taxing of Athletic Scholarships

October 31, 2019 4:02 PM
by Susan Dutca-Lovell
In response to the NCAA's vote to allow athletes to profit from their names, images and likeness, Senator Richard Burr of North Carolina has proposed taxing those scholarships. Senator Burr tweeted:
Gucci is releasing a new line of... diversity undergraduate scholarships for students who are traditionally underrepresented in the fashion industry. The 1.5 million U.S. university college scholarship program is set to run for four years, targeting students who attend four-year universities. Special consideration will be given to those residing in Atlanta, Chicago, Detroit, Houston, Los Angeles, Miami, New Orleans, New York, Philadelphia, San Francisco, Toronto and Washington, D.C and/or for those who plan to attend or are currently attending a Historically Black College and University (HBCU).

Gucci Gaffe Results in Green for Grads

October 8, 2019 2:28 PM
by Susan Dutca-Lovell
Gucci is releasing a new line of... diversity undergraduate scholarships for students who are "traditionally underrepresented in the fashion industry." The 1.5 million U.S. university college
Not every student who goes to college completes their degree, much less finishes it within the normal four-year time frame. The Texas of A&M University has spent years working to re-enroll students who stopped out of college for a year or more, and may have found a solution in partnering with ReUp Education.

Texas A&M Working to Re-enroll College Stopouts

September 26, 2019 2:15 PM
by Susan Dutca-Lovell
Not every student who goes to college completes their degree, much less finishes it within the "normal" four-year time frame. The Texas of A&M University has spent years working to re-enroll students
 Photo credit: Jared Ames

A new PBS documentary exhibiting prison education, titled College Behind Bars is set to air on November 25 and 26. The four-part series documents the journeys of dozens of incarcerated men and women as they pursue college degrees in the Bard Prison Initiative - deemed one of the most rigorous prison education programs in the United States, according to Inside Higher Ed.

PBS Airs Documentary About Higher Ed in Prison

September 18, 2019 11:53 AM
by Susan Dutca-Lovell
Photo credit: Jared Ames A new PBS documentary exhibiting prison education, titled "College Behind Bars" is set to air on November 25 and 26. The four-part series documents the journeys of dozens
The federal government discharged more than $43 million in student loan debt for former students of recently closed for-profit colleges. Students who attended programs operated by Education Corporation of America, Dream Center Education Holdings, Vatterott College and Charlotte School of Law will be able to qualify for a full discharge of their federal loans if they were enrolled when their college closed or withdrew within 120 days of the official closure date and didn’t transfer to another institution, according to Inside Higher Education.

$43M in Loans Forgiven for Students of Closed Colleges

September 6, 2019 9:18 AM
by Susan Dutca-Lovell
The federal government discharged more than $43 million in student loan debt for former students of recently closed for-profit colleges. Students who attended programs operated by Education
College Board is ditching its previous plan to capture socioeconomic information from students with a single score - also known as an adversity score - when scoring their SAT college admissions test. The score would have taken into account a student's socioeconomic background and the neighborhood in which they grew up.

College Board Backpedals - No Adversity Score to be Added

August 30, 2019 2:05 PM
by Susan Dutca-Lovell
College Board is ditching its previous plan to capture socioeconomic information from students with a single score - also known as an "adversity score" - when scoring their SAT college admissions
Female-only college and university STEM programs are coming under fire for male discrimination as they attempt to redress gender imbalance in fields such as computer science and engineering. The U.S. Department of Education launched more than two dozen investigations into higher education institutions nationwide - including UC Berkeley, UCLA and USC as well as Yale, Princeton and Rice - which offer female-only scholarships, awards and professional development workshops.

Female-Only Scholarships Under Fire In Higher Ed

August 20, 2019 4:57 PM
by Susan Dutca-Lovell
Female-only college and university STEM programs are coming under fire for male discrimination as they attempt to "redress gender imbalance" in fields such as computer science and engineering. The