More than ever, in this economy and while you’re a college student, it’s important to educate yourself about financial matters.
These are all very important questions. And while most of us know something about most of these questions, there is much to learn — and much to gain — in understanding and practicing basic financial skills and planning.
The Carey Business School wants to ensure that you have the opportunity to gain knowledge and skills in managing your finances while you’re earning your degree. We believe that this will not only assist you in making better financial choices now, but also far into your future.
SALT, a financial literacy site, from American Student Assistance is available for your use. Create a free account here: www.saltmoney.org/jhucarey
Know Your Credit Score
Helps in emergencies
Easy for internet purchases
Required for car rental
Safer than carrying cash
Possible travel and cash-back rewards
High interest rates
Short or no grace period
Leads to impulse purchases
Can lead to bad credit if not used properly
Confusing credit terms
All US residents my receive one credit report from each bureau annually. Contact the three credit bureau reporting agencies below to request your copy.
www.equifax.com or 1-800-685-1111
www.experian.com or 1-888-397-3742
www.transunion.com or 1-800-888-4213
We take debt management and the overall welfare of our students very seriously. We strongly suggest to our students to seek other means of financing their education to decrease their dependence upon loans. Please give careful thought before getting further into debt.
We recommend that you:
- Avoid borrowing if you can. Take advantage of our payment plan.
- Secure employment with a company that offers tuition reimbursement/remission.
- Apply for external scholarships to decrease the need to borrow.
- Consider paying the interest on your unsubsidized loans throughout the year to avoid capitalization of interest if possible.
- Pay interest on all loans which are in forbearance, deferment, etc. for whatever reason, even if only a portion of the amount due is viable.
How much should you borrow?
Try our Debt Management Worksheet to calculate your education debt-to-income ratio.