Managing Finances

As parents, we can help our students with the transition out of college and into their next chapter of life by discussing finances with them.

Most students go to college looking forward to becoming independent and managing their lives on their own. Managing their personal finances is part of that independence. Starting with your student early, and starting strong, will help ensure that their college experience does not end in debt and poor spending habits.

For college graduates, good credit is an invaluable asset – and with careful money management, an achievable goal. If your student graduates without any credit history, they may have trouble qualifying for a car loan or mortgage.

START EARLY
- The more time you give yourself, the better off you will be.
- If possible, start the process at least two years before you need the aid.
- Always remember that you should apply for scholarships about a year before you will receive the aid.