Financial Literacy is basic personal finance knowledge. Financial Literacy information can help students make good financial decisions that will affect their financial well being now and in the future. Some financial information that all students need is budgeting, debt management, credit basics, using credit cards responsibly and preventing identity theft.
Online resources for students seeking financial literacy basics and budgeting can be found at Adventures in Education and Federal Student Aid. These sites offer a variety of financial literacy and budgeting tools designed to help students understand the basics of money management. The video below offers tips for helping you think through your budget.
Keep track of how much you are borrowing
Keep good records. Repaying your student loans is a serious matter and it’s important to keep accurate records of how much you are borrowing. Use the U.S. Department of Education’s National Student Loan Data System (NSLDS) at https://nslds.ed.gov/npas/index.htm , the central database for federal student aid, to keep track of all of your federal student loans.