Student Financial Literacy Program

Financing a graduate school education can seem like a daunting task. Whether you are taking out student loans, making a budget, or planning for life after graduation, EDS wants to ensure that all students have the resources to make informed decisions.

The EDS Student Financial Literacy Program is a great way for students to raise their level of financial awareness.

By meeting with an EDS financial aid officer just two to three times per academic year, participating students will receive a financial assessment, including information about educational debt for the current year and the potential total debt for the entire educational program at EDS. After that informed assessment the financial aid officer and the student will assess the optimal sustainable debt level for the student to be financially stable after graduation. With the help of the financial aid officer, students will work on strategies to revise their current budget when necessary, whether it implies a cost of living adjustment or strategies to increase income.

Best of all, student who enroll in the program receive a $300 credit to their student account funded by the Lilly Foundation each year they participate.

To enroll in the EDS Financial Literacy program and qualify for a $300 student account credit, you must schedule two meetings with Financial Aid Manager Valerie Paterson during the 2014-15 academic year. To qualify, the first meeting must be scheduled by February 1, 2015 (Distributive Learning students may schedule meetings by phone, Adobe Connect, or Skype if desired).

Before your meeting, you must complete the EDS Financial Literacy Budget Planning worksheet. Please bring the worksheet to your meeting. To schedule a meeting, please contact the financial aid manager, Valerie Paterson, at vpaterson@eds.edu, or 617-682-1593.

First Meeting

  1. Bring completed EDS Budget Planning Worksheet [Microsoft Excel format]
  2. Assess debt total on the NSLDS website 
  3. Student and financial aid officer extrapolate and forecast budgets for the remaining years in the program.
  4. Calculate with financial officer the estimated student loan payment(s) after graduation according to different payment plans.

Second Meeting

  1. Bring revised budget to the meeting (if necessary).
  2. Create a summer budget
  3. Assess new budgets with financial officer.
  4. Review strategies for saving money, increasing income, and decreasing expenses
  5. Assessment of future loan payments and how they will fit in the student’s budget post graduation.

Follow Up Meetings (optional):

  1. Create a post-graduation budget
  2. Review loan repayment schedules
  3. Introduction of Inceptia Financial Literacy module, including credit rating, credit cards, etc.
  4. Set up student Inceptia account, giving student access to budgeting and financial planning resources post-graduation.