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Financial Aid

East Tennessee State University

Personal Financial Literacy & Money Management

What is Personal Financial Literacy? The ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being.

Personal financial literacy is more than just being able to balance a checkbook, compare prices or get a job. It also includes skills like long-term vision and planning for the future, and the discipline to use those skills every day. The decisions you make now, from choosing which student loan to borrow to how you use a credit card, will affect you for years after you graduate.

Stay on top of your finances.

Budgeting Basics

Creating and maintaining a spending plan is one of the most basic aspects of staying on top of your finances. Without following a budget, it’s difficult to hold yourself accountable on where your money is coming from or going toward. 

The Impact of Interest

Understanding the ins and outs of interest and fees can impact your finances more than you realize.  Why? It can make the difference between borrowing a small amount and paying back much more. If you receive a federal student loan you will be required to repay the loan with interest. 

Credit-Debt Roller Coaster

It’s much easier to lose credit than gain it and many students don’t realize how easy it is to ruin their credit – and how difficult it can be to regain credit – before it’s too late. That’s why it’s crucial to provide knowledge on debt earlier than later.  Monitor your credit history and safeguard against identity theft. Lots of sites promise credit reports for free. is the ONLY official site explicitly directed by Federal law to provide them.

Understanding Repayment

When it comes to repaying your federal student loan, there’s a lot to consider. Understanding the details of repayment can save you time and money.

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