Financial Wellness

Helping you manage your money, for school and for life!

May 30, 2013
by Carissa
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Don’t make these mistakes when it comes to student loan repayment

We often hear cautionary tales of students whose loan debt has crept into the six figure range, making it impossible for them to make their monthly loan payments that are often greater than their monthly mortgage payment.  The emerging trend is a generation of graduates who are now delaying major life events, like marriage, buying a house, or even having kids because of this crippling debt. 

But what you don’t often hear about is how student loan mismanagement may have played a large part in many of these situations.  Some of the most common mistakes include not choosing the right repayment plan for you, not communicating with your loan servicer, and using deferment or forbearance when you really don’t have to.  Here are just a few articles to help you learn about (and hopefully avoid!) these mistakes:

April 12, 2013
by Carissa
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The Best of the Week

As we wrap up Financial Literacy Week here at Franklin, we wanted to share some highlights of the week’s events:

  • All of the workshops from this past week have been recorded via FranklinLive!, and are accessible through this page.
  • Students had the the opportunity to view and print their federal student loan history via the National Student Loan Data System.  Click here for instructions on how you can do this on your own!
  • Graduating students had a chance to learn more about Exit Counseling and ask questions via our staff led online Exit Counseling sessions.  Please view these sessions by clicking here.
  • Beginning next week and through April 29, Franklin students can donate non-perishable food items to the university library in order to have library fines erased!  Read more about Food for Fines.

 

Don’t forget that April is Financial Literacy Month, and so there are still plenty of opportunities for you get a handle on personal or school finances!  Here’s a “best of the web” compilation:

  • Thirty Steps to Financial Wellness  – a whole month’s worth of money management activities to get you started!
  • Free financial counseling – Apprisen is the local consumer credit counseling agency for Columbus, offering free initial counseling for those requesting money management help.  If you are outside of the Columbus area, click here for an agency close to you.
  • Money Smart Week – Morningstar, an investment research database in our library, is sponsoring investment webinars the week of April 20 – 27th.   Additionally, they have created a fantastic tool to get all of your finances in order so that you can begin to focus on investing.  Click here to view this handy guide.
  • Debt.org – Everything you need to know about student loans, managing student debt, paying back student loans — and that’s just one part of the website!  You can also explore personal debt, and how to get free debt consultation services.

We hope you have enjoyed this week’s activities, and continue to explore the many resources available to you to help you on your path to fiscal responsibility.  If there’s a favorite site of yours that has not been included, feel free to leave us a comment and tell us about it!

April 8, 2013
by Carissa
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Financial Literacy Week Starts Today!

Remember to visit the Financial Literacy Week events today through Thursday, both onsite and online!  These events are open to all students, faculty, and staff.  At the end of the week, we’ll draw winners for fuel cards and gift cards to Barnes & Noble, Starbucks, and Subway — but you have to participate to win, so click here to see today’s events, or check out the rest of this week’s activities.

December 11, 2012
by Carissa
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Exit Counseling

First, the good news: you’re graduating! Now the fun part: your student loan payments are right around the corner. 

Not sure how to prepare for loan repayment? Attend one of our Exit Counseling sessions online, and we will help you discover:

Where to look up your loan balances and lender information
Which repayment plans are available to you, including those that are based on your income
Options for loan forgiveness
Deferment, forbearance and consolidation options
How to save money during your grace period
General money management and budgeting
If you are interested in attending, please register by emailing carissa.uhlman@franklin.edu and indicate which of the following sessions you prefer. Spaces will be limited, so sign up today!

Monday, December 17th: Online, 12:00 PM – 12:45 PM
Wednesday, December 19th: Online, 12:00 PM – 12:45 PM

Additional session information will be emailed to you upon registration. For those who cannot attend, the online sessions will be recorded and emailed to all graduates at a later date.  You may also complete exit counseling online anytime at www.nslds.ed.gov.  Remember, Exit Counseling is a federal requirement if you have federal student loans!