Money matters are on everyone’s mind. A college education can increase your lifetime earnings substantially, but you have to earn the degree first. Your path to financial wellness and your college degree are as easy as 1-2-3:

1. Be informed. If you have excess funds after the loan is disbursed, return it to your lender to avoid paying interest on money you do not need. Your goal is to earn your degree without accumulating unnecessary debt. In 2007, the average student borrower graduated with $22,700 in student loan debt (2007). Additionally, 84% of undergraduates use at least one credit card, with 50% using four or more cards.
   In general, your monthly debt payment (student loans and credit cards) should not be more than 8% of your monthly salary. Example: If your annual salary is $30,000, your monthly salary is $2500; 8% of $2500 = $200. At this salary level, your cumulative debt should not exceed $17,376.
2. Create and follow an educational plan…develop a semester-by-semester plan to graduate, beginning in your first year of college. Your future financial wellness is connected to earning your college degree. You are likely to hit a few pitfalls along the way. Remain committed to earning your degree by updating your plan every semester with your academic advisor.
3. Create and follow a monthly budget…by learning to live like a college student now, you can avoid living like one for the rest of your life. Make smart financial decisions everyday. A budget is not about self-deprivation, it is about making choices. A budget gives you control.

Use the links below to make the most of your education.