Take the Quiz.
Get credit towards the earning badge by taking this quiz on what you’ve learned through: go.uillinois.edu/CashAtCollegeQuiz.
Slides for the recording can be found at go.uillinois.edu/cashatcollegeslides.
By participating in 3 Spending-eligible events, you could earn a digital badge to enhance your online professional portfolio. Learn more about the Financial Literacy Badges Program by visiting: badges.illinois.edu/usfsco.
When choosing a financial institution, you'll want to think about the following things:
Shop Around: For a list of questions to ask when shopping for a new financial institution, check out University of Illinois Extension Financial Wellness for College Students' website.
You can check out the map below for brick & mortar locations of different financial institutions near the three main University of Illinois campuses, and you can watch our recorded webinar, Establishing Your Roots: Getting Started with Financial Services, if you'd like to learn more about choosing the right financial products & services for your needs.
Creating a budget and sticking to it is difficult for a lot of people, but there are so many tools you can use to both create a plan and track your spending that there’s no reason not to do it! Like with any other life skill, you just have to make it work with your own lifestyle and preferences.
Budget & Spending Plan Tools: Both the Student Money Management Center and University of Illinois Extension's Financial Wellness for College Students have budgeting and expense-tracking resources for you to use.
Let us know if you have other questions about the best tools to use to build your budget and track expenses! You can even request an individual financial coaching session by completing this form.
According to a 2016 Sallie Mae report, “How America Pays", 20% of students paid for college with borrowed education loans and, although credit card ownership has decreased recently, 56% of students 18-24 have a credit card.
Credit is an important financial tool that students need to learn how to manage wisely. Learn more about how credit card debt can affect you now, as well as in the future by watching the recorded webinar, "Staying on Good Terms: Credit & Debt".
Credit Management Tool: Use powerpay.org to help you manage your credit, pay down debt and plan your spending. This website was created by Utah State University Extension and WebAIM.org.
Financing Your College Degree
Financing Your Degree is about more than just covering tuition. Things like your books, supplies, rent and utilities or room and board, travel and living expenses all add to the cost of your degree, so let’s talk about how to pay for and even minimize some of those costs.
Know The Cost of Tuition & Fees: Check the registrar's website at your university for the tuition and fee schedule to estimate your program of study:
Know Your Payment Options: Watch University Student Financial Services & Cashier Operations' Paying Your Bill Video Series to understand what forms of payment the Univesity accepts, how to check your account, the role of FERPA, how to pay your bill online and more!
- To check your current student account balance, please visit Student Self-Service, sign in using your NetId and Password for your campus and click on the Student Account link under the Account Billing Information tab.
Control Your Living Expenses: Plan for your needs: There are plenty of tools, techniques and resources to help you meet your financial needs (e.g., a roof over your head, electricity, meals), so seek out offices and events to help you meet your basic needs while you can get them for free on campus!
Keep Track of Your Borrowing: Check your total indebtedness every semester by contacting your lenders and looking on NSLDS.ed.gov for all of your federal loans. And know your repayment options by watching “Love Your Loan: Student Loan Repayment”!
Maximizing Your Time On Campus
Recently, there has been some discussion in the media on whether or not getting a college degree is even worth it anymore. Well, we’re here to tell you that it is!
You can look up what the average 20 year net Return On Investment (ROI) is for your college and degree program at this site from payscale.com/college-roi.
Make sure you're doing everything you can to decrease the cost of your education by borrowing less, searching for scholarships, diversifying your income and reducing your living expenses.
You should also be doing everything you can to increase your earnings potential by networking and taking advantage of services your fees are already paying for.