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Teaching Students Personal Money Management

Personal Finance
Budget Worksheet
Interim Counseling

  • Provide students with disclosure statements that contain the following information:
    • Cumulative amount borrowed.
    • Estimated interest.
    • Estimated monthly payment.
  • Provide students with loan summaries or Web site addresses to locate a complete list of loans. Examples include:
  • Update students on changes in financial aid office procedures.
  • Remind students of their rights and responsibilities.
  • Develop an e-mail and Web-based curriculum about money management designed for your students. This program should feature the following messages:
    • The importance of budgeting.
    • Credit card caution.
    • Tax filing tips.
    • Searching for outside scholarships.
    • Summer employment and savings.
  • Gather updated information from the students relating to:
    • New addresses and telephone numbers.
    • Changes in their permanent addresses.
    • Reference information.
    • Employment information.
  • Fully explain the consequences of default.
  • Allow borrowers to use on-line entrance counseling sites offered by guarantors, lenders, and lender servicers.
  • Forward updated student information to guarantors.

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