Financial Literacy and Related Websites
The Department of Education's Financial Awareness Counseling is an interactive resource that provides students with basic financial literacy and information about student loan debt.
We encourage all borrowers to complete this counseling to help you make informed borrowing decisions.
This counseling is not the same as the required Entrance Counseling for first-time student borrowers.
Steps to complete Financial Awareness Counseling:
- Log into studentloans.gov and sign in with your FSA ID.
- Choose the "Complete Counseling" option and select the second counseling session called "Financial Awareness Counseling".
For more information see the following links:
- www.michigan.gov/mistudentaid : a very helpful and informative site by the State of Michigan. Click on Borrowers, then on Financial Resources Database. Choose from the drop down menu of many sources of a variety of topics.
- www.debt.org: America's Debt Help Organization. Check out the Student Loan Center as well as the numerous other links for overall debt management and financial education.
- www.collegeanswer.com : sponsored by Sallie Mae Corp. Designed to provide assistance to a variety of matters encountered when deciding to go to college, from selection to financing.
- www.mappingyourfuture.biz/money : a general money management site geared to address money and careers issues from a variety of age ranges.
- www.Salliemae.com : a couple of good links are the “education investment planner” and “be debt savvy”
- www.annualcreditreport.com : a FREE credit report – no strings attached. You can request one per year.
- www.creditcardinsider.com/credit-cards/students: Great information about using credit cards responsibly, as a student.
- www.jumpstart.org : A private organization designed to increase personal financial education for all ages. Scroll down and click on the “Clearinghouse” link. There are hundreds of free publications on a variety of topics.
- www.donotcall.gov : Register your phone numbers to decrease phone solicitations.
- www.finaid.org/loans : Sponsored by CitiGroup, a good informational site regarding financial aid and loans.
- www.bls.gov/oco : Bureau of Labor Statistics. Search the Occupational Outlook Handbook to find “entry-level” starting salaries for various occupations.
- www.irs.gov : Publication 970 provides information on all tax benefits for education.
- www.ftc.gov/bcp/consumer.shtm : Federal Trade Commission (FTC) provides practical information on a variety of consumer topics including automobiles, computers and the internet, credit and loans, telemarketing scams, identity theft, privacy, and security.
- www.nefe.org : National Endowment for Financial Education. NEFE is a national non-profit foundation dedicated to financial literacy efforts. Check out the Financial Literacy Resource Center.
- www.myfico.com/CreditEduation : Fair Isaac and Company (FICO) credit education center provides detailed information on understanding credit and credit scoring.
- www.insure.com : Provides articles, facts and tools regarding obtaining all types of insurance.
- www.handsonbanking.org : Fun program that covers the basics of good money management for all ages, and the skills you need to create a brighter future. Blog.wellsfargo.com/studentloandown: Interesting information, and opportunity to ask questions about borrowing for college, repaying debt, budgeting your money, and more.
- www.beyond.com : job search web site
- http://content.monster.com : career advice
- Repayment Tips for Struggling Borrowers : Helpful information for student loan repayment problems.
- GreenPath: Debt Solutions for students struggling with payments on student loans, and/or any other type of consumer debt (credit card, car loan, mortage). FREE one-hour discussion with a financial advisor who helps you explore options and create a plan for financial success.