UNT Student Money Management Center Prepares Students for the Real World

Students setting out on life’s journey need to make informed decisions in a wide variety of situations, especially if those situations deal with money. There are very few university level classes that teach students the basics of money management, and even fewer of those courses are found at the high school level. Budgeting, building credit, and practicing solid debt management are fundamental skills that have proven essential to building a more secure financial future. All too often students expect a parent or guardian to handle their financial obligations, and then they’re shocked when told to maneuver through the real world with little help.

 

With over thirty free workshops per semester and numerous outreach activities covering a wide variety of money management topics, students on our campus have access to an extensive knowledge base. We want students to have the opportunity to learn all they can in preparing themselves for the real world. We tell students that while they are in college, they should work on taking a more active role in managing their own financial funds, whether those funds include student loans, family support, grants, scholarships, or a salary from a job. We encourage students to use their parents/guardians as a financial safety net if they get in over their heads. Trying to learn from your mistakes now while you’re still young will save you a lot of stress as you get older, especially when you leave college as a new professional or graduate school candidate.

 

Because everybody’s financial situation is different, our specially trained Money Management Mentors hold one-on-one consultations with students to guide them on their path to financial independence. Starting the positive habits of budgeting during your college years will make the transition into the “real world” much smoother. When we meet with students we discuss a variety of topics including budgeting, debt, credit, and loan management. We help students figure out what they have now, what goals they have for the future, and how to accomplish those goals.

 

With the average college graduate making over one million dollars more in their lifetime than those who don’t have a degree, student retention and education are top priorities in our office. Sixty-four percent of all University of North Texas students have some type of student loan debt. Nationally, thirty-nine percent of all student loan borrowers graduate with unmanageable debt. Helping students prepare for the real world, while paying off their student loans in a timely manner, will help students have the upper hand in the transition from their college years to life as college graduates.