By learning about saving and investing while you are in college, you can lay the foundation for your long-term financial health and avoid the common financial pitfalls that many face after entering the workforce.
Student financial education
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Your questions answered
Our Student Financial Services experts walk you through what you need to know about financial aid, tuition and fees, paying your bill and more.
Banking
Why is banking important?
College is a great time to learn how to manage your money and build credit.
To learn more about banking and open your own accounts, visit with the local bank of your choice and be sure to ask about checking and savings accounts, overdraft policy, and mobile payments.
Budgeting
Why is budgeting important?
By managing your finances, you can ensure you have enough money for essentials, as well as savings for emergencies. Budgeting also enables you to plan for future goals, like buying a home.
What is a good way to start a budget?
A simple budgeting tip is the , which says that 50 percent of your budget should go toward needs, 30 percent should go toward wants, and 20 percent should go toward savings.
Credit
What should I know about my credit?
Your credit score represents your level of financial risk.
Businesses, banks, and employers use your credit score to determine how likely you are to pay back money that you owe. Your ability to get a credit card and qualify for loans on a car, house, and business depends on your credit score.
Keeping your credit usage low and paying your bills on time are good ways to build a good credit score. It’s also wise to monitor your credit score often to make sure there are no errors or discrepancies.
How can I check my credit score?
Visit for more information on credit reports or to request yours for free.
Saving
Why is saving money important?
Saving money sets you up for financial security and helps you achieve long-term goals, like buying a house or retiring. Also, having an emergency fund will help in case of unexpected costs, like medical costs or expenses for an unplanned move.
Debts and loans
How can I check what loans I have?
Log in to the using your federal PIN.
How long will it take me to pay off my loans?
Use to understand how much you’ll need to pay back on your student loans and how long it’s expected to take.
Investing
How can I get started investing?
You don’t need a large amount of money to start investing for your future. One way to start is by opening a low-cost brokerage account and making small, consistent contributions to diversified investments like index funds or ETFs.
Retirement
Retirement seems a long way off. Why should I plan for it now?
When you start your career — if not before — you'll want to . Saving for retirement early allows more time for compound interest to grow.
Even small contributions to a retirement account, like a Roth IRA, can lead to substantial savings by the time you retire. For example: Investing just $100 a month for 40 years, from age 25 to 65, with an estimated 10% interest rate will yield more than $535,000.
How can I get started?
Start by estimating your life expectancy with from the Social Security Administration. From there, you can work backwards to determine how much you'll .
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