Mapping Your Future offers a variety of financial literacy tools
By Beth Ziehmer
April 01, 2021
April is financial literacy month. Mapping Your Future has several tools to help you educate your students all year, especially during financial literacy month.
These tools include:
- The Financial Literacy counseling session and the corresponding 12-Step Guide to Financial Success
- Website content, including the Manage your money page
- You can follow Mapping Your Future on Facebook and Twitter and share tips with your students. The posts and tweets in April will focus on financial literacy topics.
- Mapping Your Future offers several student loan and money management calculators:
- Loan consolidation calculator: Allows borrowers to estimate the repayment period, interest rate, and repayment schedule if they consolidate
- Debt/salary wizard:
- Helps students and parents determine how much salary is needed to support the payments on current and future student loan debt and how much the student can borrow based on future expected earnings.
- Estimates standard repayment for student loans
- Deferment navigator: Allows borrowers to determine deferment eligibility based on when their oldest outstanding loan was disbursed
- Student loan repayment calculator: Allows borrowers to estimate payments on federal student loans, as well as determine how much salary is needed to support student loan debt
- Income-based repayment calculator: Allows borrowers to estimate monthly payment amount under the income-based repayment plan
- Refinance and weighted average interest rate calculators: Allows borrowers to determine whether refinancing is a good option by comparing monthly payments and total interest paid for current loan(s) to those amounts with a refinancing offer.
- Budget calculator: Allows students to create a monthly budget, reminding them of various expenses including transportation expenses, grocery items, and miscellaneous expenses
- Checkbook balancing tool: Enables students and families to reconcile their bank statements to their check register each month (without storing their information)
- Savings calculator: Allows students and families to see how valuable saving can be, estimating future value of an investment
- A presentation on default prevention and money management techniques for students and borrowers, allowing high school counselors and financial aid professionals to download and customize it.
- The Mapping Your Future Higher Ed News includes articles on default prevention and/or student loans and money management. You can run some of the articles in your own publications and communications for students and borrowers, while others provide you with information about new tactics and tools. Individuals can subscribe at mappingyourfuture.org/services/HENews.cfm.
Contact the Mapping Your Future staff at firstname.lastname@example.org or (800) 374-4072 with any questions.