SURVIVING THE STUDENT LOAN JUNGLE-BUDGETING
Submitted by Teresa Boldt
National Student Loan Program
Now that students are back on campus, they'll learn a lot about their fields of study, along with one of life's toughest, real-life lessons-budgeting. You can help them make the grade with these budgeting resources.
10 Steps to Financial Fitness
Students can find out if they're financially fit, get advice about credit card management, and learn how to avoid student loan default with Mapping Your Future's 10 Steps to Financial Fitness at http://www.mapping-your-future.org/features/dmtensteps.htm.
Online calculators make it easy for students to develop a budget. After they determine their values and set goals, they can use Mapping Your Future's budget calculator at http://www.mapping-your-future.org/features/budgetcalc.htm to find out how much discretionary income is left after expenses like rent, food, gas, and credit cards.
Students can go to Bankrate.com and find Budgeting 101, a tool to help them compare their expenses to the national average. The calculator is in the Managing Your Money section of the website at http://www.bankrate.com/brm/calc/Worksheet.asp?nav=budget&page=calc_home.
Another budget calculator is available on the EducationQuest Foundation website at http://www.fes.org/edquest/budget/index.htm. This calculator provides students with a pie chart that helps them see how their income is being spent.
If you would like more budgeting resources to help your students, contact Connie Kent, NSLP's Financial Management Director at 800-735-8778, ext. 6651 or e-mail email@example.com.