Many students enter college without ever having been responsible for their own personal finances, yet they are left alone to navigate a complex financial world on their own. Some student even have to balance work and school.

For many students, financing higher education involves taking on federal student loans. If managed properly, student loan debt can be a worthwhile (value enhancing) investment that enables students to receive the training they need for their career goals. Excessive debt during collage can also hamper graduates when they start their careers. You have to make other important financial decisions during college. For example, you may open a bank account and use credit cards for the first time and  make various purchasing decisions as you move away from home.  You may not be accustomed to keeping a budget and may come from households where budgeting is not a priority. Building a good financial capability is an important strategy for collage completion and lifelong financial health.   

You have to consider the short-term and long-term costs of student loans and plan for exit strategy before you take on student loans by considering repayment obligations and protections  as borrowers.   As you leave college and transition to the workplace, you are faced with other important financial decisions from making housing decisions to choosing health insurance to investing for retirement.  You need to have proper skills and tools to make these decisions effectively so that you may secure your financial wellbeing for the future.