Provide students with tools to borrow responsibly
June 13, 2012
Mapping Your Future's Financial Literacy counseling provides students with money management tools needed to borrow responsibly. Since its release in the fall of 2009, more than 26,000 students have benefitted from the money management and life skills information presented in the Financial Literacy counseling session.
Several schools throughout the country have made Financial Literacy counseling an integral part of their loan application process and require students to complete Financial Literacy counseling prior to their first loan being disbursed.
Mapping Your Future's Financial Literacy counseling is presented in 12 steps that help guide postsecondary school students on the path to financial success:
- Be accountable and responsible
- Set and plan goals
- Understand your income
- Open a checking account
- Open a savings account
- Create a budget
- Borrow smart
- Manage your credit cards wisely
- Regularly review and understand your credit report
- Protect yourself from identity theft
- Understand your tax liability
- Don't be afraid to ask for help
To experience Financial Literacy counseling from the student perspective, follow these steps:
- Go to the Mapping Your Future home page at MappingYourFuture.org
- Click the "complete Online Counseling" link on the left side of the page
- Select "Financial Literacy" (under "Other counseling")
- Choose Texas as your state
- Select MYF Demo School as your school
The financial literacy guide, located at mappingyourfuture.org/downloads/financialliteracyguide.pdf, provides the counseling content in a guide format that easily can be printed or provided to the student electronically.
Postsecondary schools that would like to add Financial Literacy counseling to their Online Counseling participation categories should contact Beth Ziehmer at firstname.lastname@example.org or (573) 796-3730.
Schools that don't have an Online Counseling account should complete the school submission form at mappingyourfuture.org/oslc/schoolsignup.cfm to request participation.