1. U.S. Department of Education
April 2013
FINANCIAL LITERACY
Resources for Every Stage of
Federal Student Aid

2. What is Financial Literacy?
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“The ability to use knowledge and
skills to manage financial resources
effectively for a lifetime of financial
well being.”
2008 Annual Report, President’s Advisory Council on Financial Literacy

3. 3
• College Scorecard
• College Navigator
• Financial Aid Shopping Sheet
• Free Application for Federal
Student Aid
• Net Price Calculator
• Financial Awareness Counseling
Tool (FACT)
• Entrance and Exit Counseling
• Repayment Estimator

4. Stay Informed: StudentAid.gov
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5. Stay Informed: Social Media
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6. Comparison Shopping: College Scorecard
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7. Comparison Shopping: College Navigator
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8. Comparison Shopping: Financial Aid Shopping
Sheet
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9. Apply for Aid: FAFSA
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• Takes less than 30 minutes to complete
• IRS Data Retrieval Tool pre-populates tax information
• Determines families ability to contribute to cost of attendance

10. Budgeting and Borrowing: Net Price Calculator
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11. Budgeting and Borrowing: FACT TOOL
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Expenses Funds
Financial Awareness Counseling Tool (FACT) available on studentloans.gov

12. Additional Borrowing Resources
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• Federal Loans First
Understand differences between federal and private
loans
http://studentaid.ed.gov/types/loans/federal-vs-private
• Borrow Smart
Free money first; consider accepting less loans than
offered
http://www.studentaid.ed.gov/fafsa/next-steps/accept-aid

13. Manage Debt: Entrance and Exit Counseling
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NOTE: Exit Counseling does not include “Manage Your Spending While in School.”
Available on studentloans.gov

14. Manage Debt: Repayment Estimator
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Available on studentloans.gov

15. Other Resources
White House Toolkit – Page 28: Higher Education
A Guide to Increasing Financial Capability among Students in Higher
Education
www.whitehouse.gov/webform/financial-capability-toolkit-tell-us-what-
you-think
Student Financial Literacy, Campus-Based Program Development
Sonya L. Britt & Dorothy B. Durband, 2012.
Financial Literacy Resource Directory
David R Smedley, Associate Director, Compliance and Policy, The George
Washington University, Office of Student Financial Assistance
http://gwired.gwu.edu/finaid-g/FinancialLiteracy/
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16. Contact Information
Elizabeth Coogan
Federal Student Aid
Senior Advisor, Customer Experience Office
elizabeth.coogan@ed.gov
16 04/26/2013