ED Celebrates National Financial Literacy Month

Financial literacy plays an important role in promoting the financial health and stability of individuals, families, and our national economy. The economic crisis has highlighted how essential it is to have information, education, and tools to help people make informed financial decisions.

Piggy BankIn honor of National Financial Literacy Month, experts from federal and state agencies and nonprofit, educational, and private sector organizations will be providing valuable resources to help Americans improve understanding of their personal finances throughout the month of April.

In support of this effort, The U.S. Department of Education’s office of Federal Student Aid plans to provide daily financial management advice for students and borrowers on Twitter. Over the course of April, you can follow @FAFSA  for information and resources on being financially savvy at all stages of your education.

Here are some topics we’ll discuss:

PREPARING

    • Types of financial aid
    • Comparing financial aid packages

APPLYING FOR AID

    • Completing the FAFSA
    • IRS Data Retrieval Tool

RECEIVING AID

    • Maintaining your financial aid
    • Keeping track of your student loans

REPAYMENT

    • Know what you owe
    • Flexible repayment options

We will close out the month by hosting our April edition of #AskFAFSA Office Hours which will focus on financial literacy topics.

We encourage you to join the conversation. Starting now, if you have advice or tips for ways students and borrowers can be smart about their finances, share them with us using the hashtag #dollarsense. We look forward to hearing from you!

Elizabeth Coogan is the Senior Advisor for Financial Literacy at Federal Student Aid

2 Comments

  1. How much of ED/FSA’s budget is devoted to financial literacy? The FY13 budget materials suggest very little, which is quite disheartening since the same materials show the government will be extending more than $120 billion in no-credit check loans this year.

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