The Associated Students of Madison University Affairs Committee held a meeting Wednesday to discuss ways to make students more aware of the university’s resources to help students manage their personal finances.
Students who attended the meeting said they are concerned there is not enough information readily available to educate students about managing personal finances, including how to pay loans and taxes as well as apply for financial aid.
Students are not aware of the resources that exist in the university’s financial aid office, according to Financial Aid Office Associate Director Michelle Curtis. She said the real issue is communicating the availability of these resources to students.
For instance, Curtis said there are 10 financial counselors available in the Financial Office willing to help students with a number of different financial issues, including those beyond financial aid.
Mary Prunty, an intern for the University Affairs Committee with ASM, said there have been smaller meetings leading up to this forum, and now ASM hopes to start raising student awareness of available financial resources.
Curtis added financial literacy is an issue that should be addressed campuswide, with action beginning in the financial aid office.
“Really only a fraction of students are applying for financial aid,” Curtis said. “We’re not even catching the majority of the campus.”
Chris Smith, Branch Manager of Summit Credit, said Summit Credit also offers a free student loan seminar in the spring that helps upperclassmen understand their options for paying off loans after graduation.