Building Smart Money Habits for Life
ÐßÐßÊÓƵ is committed to helping students make informed financial decisions. Through workshops, online tools, and one-on-one counseling, students gain the knowledge to manage financial aid responsibly and plan for repayment.Ìý
Responsible borrowing, budgeting, credit management, and savings are central to college success and post-college financial wellbeing. ÐßÐßÊÓƵ provides financial-literacy programs and ensures compliance with federal requirements for loan counseling (both entrance and exit) to guide and gauge students’ awareness of debt, repayment options, and financial decision-making. Ìý
| Entrance counseling: | Required before your first disbursement of any federal student loan. You must complete this at . Ìý |
| Exit counseling: | Required when you graduate, transfer out, withdraw, or drop below half-time enrollment. You must complete this at . Ìý These steps ensure you understand loan terms, repayment options, deferment/forbearance, and your rights and responsibilities as a borrower.  |
Financial Literacy Topics – What ³Û´Ç³Ü’l±ô Learn Ìý
- Budgeting & Spending Plans: How to create a realistic monthly budget, track spending vs income, reduce high-cost borrowing, and build an emergency fund. Ìý
- Understanding Borrowing: How federal student loans differ from private loans (interest rates, forgiveness options, repayment plans), how interest accrues, how borrowing impacts your future. Ìý
- Credit & Debt Management: How credit scores work, how to access your credit report, how to avoid damaging debt, and how to manage credit cards, installment loans, and other obligations. Ìý
- Savings & Emergency Planning: Why saving early (even small amounts) can reduce financial stress, protect against unexpected expenses, and reduce reliance on loans. Ìý
- Identity Protection & Fraud Awareness: Recognizing phishing, protecting your personal information, steps to take if your identity is compromised, and how financial aid and student-loan fraud can affect you. Ìý
- Repayment Strategies & Post-Graduation Planning: Keys to understanding repayment plans (standard, income-driven, consolidation, forgiveness), how to navigate your servicer, and early payoff strategies. Ìý
Additional University-Offered SupportsÌý
- created by our own Office of Student Financial Services
- Regular workshops and webinars offered by the Office of Student Financial Services (Check your student portal and emails). Ìý
- Advising support: Borrower counseling sessions available by appointment (before borrowing and before graduation/withdrawal). Ìý
- Links to federal tools: ; ; Financial Awareness Counseling Tool (FACT) for troubled borrowers, , Ìý
Institutional & State Context Ìý
As part of the PASSHE system, Cheyney’s financial literacy efforts align with system-wide expectations of promoting student success, reducing debt burden, and supporting persistence and completion. The University documents workshop attendance, assesses effectiveness, and reports relevant metrics per PASSHE policy requirements. Ìý