Graduate Student Finance
Enhancing Student Financial Education
Today’s graduate and undergraduate students are in a much different place financially than previous generations of students. In 2012, total student debt for the first time exceeded $1 trillion. Rising debt levels can cause some students to defer graduate study or to decide that a graduate degree is not for them. At a time when public funding for education is decreasing and student debt is rising, more students are taking on debt to support their educational aspirations.
To help students learn how to successfully manage their finances and educational costs, the Council of Graduate Schools, funded by a grant from TIAA-CREF, a leading financial services organization with a long history of serving those in the academic, research, medical and cultural fields, has launched a three-year project to enhance the financial literacy of graduate and undergraduate students. Loyola University Chicago is one of the 15 institutions that has been selected to participate in the project as funded research partners.
The Council of Graduate Schools has developed GradSense, a unique online education platform that provides students with financial information and videos about a range of topics including the value of pursuing an advanced degree. Some highlights include:
Loyola's Graduate School has also put together information on a variety of important aspects of financial literacy, from student loans to personal savings.