February is Financial Aid Awareness Month: Supporting Students Through Financial Literacy
By: Natalie Hubertus
As we observe Financial Aid Awareness Month this February, it's the perfect time to reflect on how institutions can better support students in navigating the complex landscape of college financing.
Why This Month Matters
Financial Aid Awareness Month was established to help students and families understand the resources available to make higher education more accessible. According to the National Center for Education Statistics, over 87 percent of students received some form of financial aid for the 2021-2022 school year. For higher ed professionals, this month is a reminder that financial aid literacy directly impacts student success, from enrollment decisions to retention and completion rates.
Key Opportunities for Your Campus
Consider these actionable steps to maximize the impact of Financial Aid Awareness Month:
Host financial wellness workshops that go beyond FAFSA completion to address budgeting, loan management, and understanding the true cost of attendance.
Leverage your financial aid office as a year-round resource by promoting office hours, virtual Q&A sessions, and one-on-one counseling appointments.
Address the protection gap by educating students about unexpected costs and financial risks that traditional aid doesn't cover, from laptop theft to medical emergencies to tuition loss due to a mid-semester withdrawal.
How GradGuard Can Help
Financial aid helps students get to college, but financial preparedness helps them stay and succeed. Complementing financial aid education with information about tuition insurance and renters insurance can help students and families create a plan to tackle unforeseen circumstances that could derail degree completion.
This February, let's commit to ensuring every student understands not just how to pay for college, but how to protect their investment in their education.
