FAFSA & Financial Literacy: Tools for Smart Financial Decisions

Tools for Smart Financial Decisions

Managing your finances in college starts with understanding how to access aid and make smart money choices. Below is a breakdown of key resources and strategies to help you prepare for college costs, avoid common financial pitfalls, and plan for a debt-free future.

Financial Aid

How to Complete the FAFSA

The Free Application for Federal Student Aid (FAFSA) is your gateway to grants, scholarships, work-study opportunities, and federal student loans. Get ahead by preparing the necessary materials in advance.

What You’ll Need:

  • Social Security number or Alien Registration number (if applicable)

  • Federal tax returns, W-2s, and records of income

  • Bank and investment records (if applicable)

  • Records of untaxed income (if applicable)

  • FSA ID (username and password)

Step-by-Step Guide:
Follow this 8-step FAFSA guide from the U.S. Department of Education.

Fordham FAFSA Codes & Deadlines:
FAFSA Codes & Deadlines

Early Action Applicants:
Learn more about financial aid and early action.

Smart Today, Debt-Free Tomorrow: Financial Literacy for Students

College is a time to invest in your future—but it’s also important to make smart financial choices now. These resources can help you budget wisely, build credit, and avoid debt.

1. Preparing for College Costs
Explore ways to plan ahead and understand your expected expenses.

2. Creating a Budget & Saving
Learn how to build a college budget and stick to it.
Sample guide: Budgeting in College

3. Credit Basics: Building and Managing Credit
Understand how credit cards work, how to build good credit, and what to avoid.
Resource: Guide to Credit Cards for Students

4. Avoiding Common Money Mistakes
From overspending to ignoring student debt—avoid these common traps.
List: 15 Money Mistakes College Students Make

5. Socializing on a Budget
College life includes social pressure—learn how to find fun, budget-friendly activities and build the confidence to say no when needed.

6. Understanding Financial Aid Offers
Break down your financial aid package so you know what’s a grant, what’s a loan, and what you owe.
General tips: Evaluating Aid Offers
Fordham-specific: Understanding Fordham Financial Aid

7. Loans 101
Understand different types of student loans and how they impact your future finances.

Additional Tools & Resources

  • Fordham Financial Aid Portal:
    Get familiar with Fordham’s system for managing aid offers, updates, and requirements.

  • Sample Financial Aid Sheet:
    Review a sample Fordham Undergraduate Financial Aid Award Letter to understand how aid is broken down.

By learning to manage your finances early, you’ll be more prepared for college—and for life after graduation. Take advantage of the tools available and start your financial journey with confidence.