Financial Awareness Counseling

The new Financial Awareness Counseling module will provide you the basics of financial management, show your current federal student loan debt (and your other student loan debt if you enter information about your private student loans), and provide you an estimate of what your student loan debt is likely to be at the time you leave school.

Financial awareness counseling

While Financial Awareness Counseling contains some of the same information in Entrance and Exit Counseling, it does not meet the regulatory requirements for Entrance or Exit Counseling.

You still must complete Entrance Counseling and Exit Counseling.

The Financial Awareness Counseling will show you how to:

  • Understand Your Loans – This section will allow logged-in users to see their existing federal student loan debt based on the National Student Loan Data System (NSLDS) data. Users can enter additional loans that are not reflected in the NSLDS. Outside the log-in, users can enter their student loans.
  • Manage Your Budget – This section includes an in-school budgeting tool that compares living expenses vs. a user’s current income. The user can export his or her data to an Excel spreadsheet.
  • Plan to Repay – This section includes a budgeting tool which compares living expenses vs. estimated income after leaving school and calculates monthly payment amounts for each of the basic repayment plans. This section also includes a tool that allows the user to see the effect of paying extra towards their loans to reduce their overall debt and the amount of interest paid over time.
  • Avoid Default – This section provides tips on how to postpone repayment or lower monthly payments, if needed.
  • Make Finances a Priority – This section discusses the development of a financial plan and making financial decisions.
  • Print a Summary Page – This page gives a summary of the data used and/or entered and can be printed.

Just for you:

  • Cashcourse
    A nonprofit, independent site affiliated with UA that helps students take charge of their money. Offers free planning tools and advice.