Federal Aid - Understanding Financial Literacy
A convenient way to learn more about loans and other options for tuition assistance is to search the Internet. The websites listed below offer loans, scholarship, and grant searches as well as consumer information.
- College Board
- College Scorecard
- Paying for College
- www.studentaid.gov
- College Navigator – Amridge University Cohort Default Rate
Amridge University does not endorse or support any of the websites listed. Links may change without notice.
What is Financial Literacy?
- The ability to understand financial information and make informed decisions using various financial information. It involves understanding financial principles, including managing your financial resources effectively and responsibly. It includes an understanding of budgeting and investing concepts. Such knowledge will increase your chance for financial success.
What are Some Key Concepts of Financial Literacy?
- Time value of money
- Cost of debt, including compound interest
- Managing debt
- Financial planning
What can you do to be financially literate?
- Learn how to budget your finances (weekly, monthly, annual)
- Track your spending habits
- Learn the difference between something you “need” and something you “want” to prevent overspending.
- Learn the ABCs of debt: Always Borrow Conservatively
- Understand the cost of using credit cards
- Learn techniques to pay off debt
- Open a savings account
- Establish an emergency fund to plan for unexpected expenses
- Build and establish credit
- Start planning for retirement by researching different types of retirement accounts and any associated risks.
- Protect your assets through insurance
- Protect yourself from fraud
Contact us Today!
Erica Willis
Interim Director of Financial Aid
Local: 334.387.7527
1.800.351.4040 Ext. 7527
Fax: 334.387.7527
Email: financialaid@amridgeuniversity.edu
Sarah Norton
Financial Aid Officer
Local: 334.387.7525
1.800.351.4040 Ext. 7525
Fax: 334.387.7525
Email: financialaid@amridgeuniversity.edu