It is not something new to say that costs of higher education are on the rise. With the higher costs of education comes higher expenses to students and their families. To offset some of those costs the federal government offers the Free Application for Federal Student Aid (FAFSA ® ). FAFSA allows students to receive aid to fund some college expenses. It is the gateway to more than $150 billion in college grants, work-study funds, and federal student loans, as well as certain state-based aid. There are benefits to having a FAFSA on file as even some outside scholarships and even some institutional scholarships may be tied to the completion of the FAFSA. There are students who do not complete their FAFSA application because they feel they will not qualify. However, most students receive some type of financial aid, so students should fill out a FAFSA® application even if they do not think they qualify.

Managing money while in college enables students to control their expenses and achieve financial goals. While it may seem difficult at first, learning money management skills are imperative to the development of most college students. Some of the most common mistakes college students make when managing their money is thinking they have more than what they actually do. One of the best ways to avoid such costly mistakes is to create a budget. Having a budget makes it easier for students to plan, save, and control their expenses. When one sets up a budget, one is able to see whether expenses exceed income and, if so, can identify a strategy to reduce unneeded costs.

Texan Smart is a financial education center that helps students learn money management skills. We provide finance-focused workshops and peer-to-peer coaching appointments, both designed to develop Tarleton students’ positive financial practices and money management knowledge. Our goal is to create an environment where students can share, grow, and develop their personal financial management skills.