Office of Financial Aid

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Financial Literacy

The mission of the FranU financial literacy program is to educate and graduate integrated Franciscan citizens ready to tackle financial challenges. We believe that financial literacy is the cornerstone of a successful and empowered life. It encompasses the knowledge and skills needed to manage personal finances effectively, make informed financial decisions and achieve financial well-being.

What is Financial Literacy?

At its core, financial literacy refers to the ability to understand and utilize various financial concepts and practices. It entails having a solid grasp of fundamental principles, such as budgeting, saving, investing and borrowing.

By gaining proficiency in these areas, you can take control of your financial future and work toward your goals with confidence. Our program goes beyond theoretical knowledge by providing practical insights and hands-on experiences to help you develop real-world financial competence.

Why Is Financial Literacy Important?

The answer lies in the significant impact it can have on your life. By becoming financially literate, you empower yourself to make informed decisions that directly affect your financial well-being. Through our program, you can learn how to create and manage budgets, ensuring that your income aligns with your expenses and long-term financial goals. With an understanding of investing, you can make sound investment choices, potentially growing your wealth over time. Additionally, financial literacy equips you with the skills to make informed borrowing decisions, helping you avoid unnecessary debt and its potential consequences.

How FranU Financially Prepares Students

FAQ

Debt

Debt is money that one entity – an individual, organization, or government – owes to another entity. The entity that does the borrowing is typically called the “borrower,” and the entity that lends the money is called the “lender.” Debt can be used to make large purchases that one cannot afford under normal circumstances. This arrangement allows the borrower to borrow money with the condition that it must be repaid by a certain date. Usually the lender charges interest in addition to the principal amount. From a student perspective, debt is most commonly associated with student loans, but it can also take the form of mortgages, credit cards, auto loans, and more.

Interest

What is the difference between a debit card and a credit card?

Credit Score

Should I use a credit card to pay school expenses?

Where can I learn more about these financial literacy topics?

How can I navigate student loans and scholarships?

Empower Your Future at Franciscan Missionaries of Our Lady University

At FranU, we are committed to providing you with a comprehensive financial literacy program that not only imparts knowledge but also instills confidence in your financial decision-making abilities.

Our resources are here to guide you on your journey to financial empowerment — join us and hone the tools to reach financial health, ensuring a brighter and more secure future for yourself and those around you.