Financial Literacy

Need Financial Literacy Tools?

Please click on the tools and resources below to use as a guide for students and parents to create a path to financial wellness. 

Free Webinars Income Worksheet Net Worth Worksheet Debt Load Worksheet Financial Priorities Worksheet 
Financial Goal Worksheet Goal Certificate Record of Daily Expenditures Expense Worksheet Tips for Change eBook 

The goal of the Financial Literacy Program is to help Morehouse students improve their undersatanding of financial concepts and services so that they are empowered to make informed choices and take action to improve their present and long-term financial well-being. 

Budgeting
A budget is a record of an individual's income and expenses that will guide the individual to be financially successful.  A budget can be as simple as writing down basic monthly income and expenses amounts on a piece of paper or creating a detailed worksheet with information for each day of the week.  A budget can help individuals reach a variety of financial goals such as saving for a car or encourage an individual to spend less money on clothes or eating out.

Managing Student Loans
Your student loans are a serious financial obligation that must be repaid and understanding how to repay your federal student loans can save you a lot of time and money.  The amount you borrow (the principal); you will also be charged interest for the use of the loan funds.  Here is a guide to repaying your federal student loans and a guide to consolidating your federal student loans

Student Loan Repayment Calculator
Borrowers must provide additional information to obtain estimates for Income-Based, Income-Contingent and Pay As You Earn repayment options, as well as for Consolidations.  Review more information about the student loan repayment calculator here.

Banking
Banking relationships last long after you graduate.  Making a smart decision now will mean fewer surprises fees that can add up later. Review Student Banking: Managing your college money.

Managing Credit
Credit is your reputation as a borrower.  It tells others how likely you are to repay your loans. Credit is made up of from information about your borrowing history. Most of the information comes from your credit report. Learn more about credit and credit cards.

Building Credit
Building credit is not as easy as it used to be. The Credit Card Accountability Responsibility and Disclosure Act (CARD Act) of 2009 makes it difficult for anyone under the age of 21 to build credit since the act restricts anyone under the age of 21 from applying for an unsecured credit card. One of the intentions of the act is to prevent college students from overspending on credit cards by making it illegal for credit card companies to pre-approve anyone under the age of 21. However one major drawback is that anyone between the ages of 18-20 now has a much more difficult time building the credit they will need for their future to buy a home or car, or to simply pay for living expenses. Lear more about building credit here.