Financial Aid Literacy

Financial Literacy at Aultman College

Financial literacy is more than balancing a checkbook or comparing prices it’s about gaining the skills and knowledge to manage your money, make smart financial decisions, and plan for both short- and long-term goals. At Aultman College, we provide resources and tools to help students and families navigate the financial aid process, understand student loans, and achieve financial success.

The Higher Education Opportunity Act emphasizes the importance of student financial literacy, helping students understand the costs of college, manage loans responsibly, and plan for the future.

Direct Loan Counseling and Repayment Education

Aultman College provides guidance for managing federal student loans:

• Direct Loan Entrance Counseling – Learn your responsibilities before receiving your first federal loan.
• Direct Loan Exit Counseling – Understand repayment options and responsibilities as you complete your studies.
• Direct PLUS (Parent) Loan Counseling – Supports parents borrowing federal loans to assist with educational costs.

General Financial Literacy Resources

Take advantage of free, reliable resources to strengthen your money management skills:

• Mapping Your Future – Career, college, financial aid, and money management guidance.
• You Can Deal With It – Practical advice for paying for college and managing debt.
• NSLDS – Track and manage all your federal student loans.
• AnnualCreditReport.com– Access your free credit report from all three bureaus annually.
• MyMoney.gov– The U.S. government’s site for learning financial basics.
• Smart About Money – Easy-to-understand financial information.
• CashCourse.org– Free money management resources designed for students.

Loan Management Tools

Manage your student loans with confidence using these resources:

• Understanding Student Loan Default – Learn the risks and prevention strategies.
• Public Service Loan Forgiveness Program – Explore loan forgiveness options for qualifying careers.
• FINAID Budget Calculator – Plan and track your finances.
• FINAID Loan Repayment Calculator – Estimate monthly payments and repayment strategies.

Financial Awareness Counseling Tool (FACT)

The FACT tool from the U.S. Department of Education helps students track loan debt, manage budgets, and avoid default. It includes:

• Five interactive tutorials on budgeting and financial management
• Personalized feedback on your individual loan history
• Estimates of debt accrual after graduation

Note: FACT is an educational tool and does not replace your Federal Direct Loan Entrance Counseling requirement.

Have Questions?

For more information about financial literacy at Aultman College, contact: finaid@aultmancollege.edu