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Student Money Management Center at Amarillo College

 

Amarillo College in Amarillo, Texas, received a grant from TG to provide students and their families with financial and economic literacy education, training and support services through the establishment of a Student Money Management Center (SMMC).  The main goals are to: help students understand key personal financial concepts, encourage student retention and degree completion, facilitate career readiness, lower overall student debt levels, and prevent student loan default.  Students who leave college lacking basic financial literacy sometimes find themselves on a precarious tightrope of solvency. Student loans put many at risk, either when they naively over-borrow or simply when they fail to develop viable repayment plans for even modest loans. But failure to grasp the benefits of banking and budgeting, or misunderstanding the ramifications of compound interest or credit scores, can lead to bad financial decisions that might very well hamper a student’s college career from the outset.  The Center also offers guest speakers and financial seminars and collaborates with the Financial Aid office to provide exit counseling for graduates with outstanding loans.

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