Students Learn How to Budget and Manage Their Money

Jason Kahn, director of campus relations for SOFI Company, explains the importance of budgeting and managing credit to 91 STEPCAP students.

Aware of the challenges of paying for college that students frequently experience, the Office of Financial Aid presented “Budgeting & Managing Your Credit” on July 24, 2019, in the Student Center Theatre. The presentation to 91 STEP/CAP students was part of the office’s Summer Project. It targeted STEP/CAP students but was open to the campus community; it was designed to help students become more effective at managing student loan debt and finances. Students listened attentively as Jason Kahn, director of campus relations with SOFI Company (Social Finance), led the presentation.

June Dunn, assistant dean of the Office of University Opportunity Programs, shares her personal experience with budgeting and managing credit with STEP/CAP audience.

Eastern’s Summer Transition at Eastern/Contract Admissions Program (STEP/CAP) combines an intensive, six-week summer bridge program with year-round counseling and academic support. The residential summer program includes academic courses in mathematics, public speaking and time management skills; cultural activities; and other support. STEP/CAP students passing the summer program enroll at Eastern in the fall.  

“Understanding how to budget and manage one’s credit should be very high on one’s list of priorities, as good credit leads to a successful experience,” said Neville Brown, assistant director of financial aid.  Due to lack of experience, many students are often vulnerable to credit pitfalls. “Our students learned that if used effectively, a budget could be a very useful tool to avoid unnecessary debt and improve credit. It can help one to discover ways to find money and plan for the future.”

Earlier on July 10, the Office of Financial Aid presented a session, “Student Loan Information Session,” exclusively for Eastern professional colleagues, to enhance their awareness of the invaluable contribution they can make in assisting students with managing their college careers.

Brown said the Office of Financial Aid will present the sessions again later this fall in response to positive feedback and popular demand.

Written by Dwight Bachman