Federal Student Aid’s online, interactive loan counseling tool, the Financial Awareness Counseling Tool (FACT), helps students and families better manage their finances and understand their obligation as borrowers. This online resource provides students with the basics of financial management and information about their federal student loan debt (and total student loan debt if they enter information about their private student loans). The tool also estimates what their student loan debt is likely to be when they leave school and provides financial planning tips.
Financial Awareness Counseling provides tools and information to help students better understand their financial aid and help manage their finances. The financial awareness counseling covers five difference categories which include understanding your student loans, manage your spending, creating a plan to repay student loans, avoiding student loan default, and making finances a priority. Useful information is broken down within each category of the counseling that can be used by students who intend on enrolling or are currently enrolled in a university.
To take advantage of this resource, visit the Financial Awareness Counseling Tool on StudentLoans.gov.
By Shalena Gonzales
Financial Aid Specialist, American Public University