Financial Literacy

Being familiar with the financial aspects of attending LMU empowers you and your family to make the most of your LMU education – both now and throughout your future.

LMU Financial Aid is your partner in understanding all things financial aid related to funding your experience at LMU. Below are a number of resources we recommend to enhance your financial literacy and, in turn, your ability to responsibly fund your undergraduate or graduate education at LMU.

Federal Direct Loans

All student who have not previously received a Federal Direct Subsidized, Unsubsidized, or PLUS loan, and have accepted this resource, are required to complete Entrance Loan Counseling. Entrance counseling ensures that students understand the terms and conditions of their loan and rights and responsibilities. Students will learn what a loan is, how interest works, their options for repayment, and how to avoid delinquency and default.

All students who graduate, withdraw from all coursework, take a leave of absence or cease to be enrolled at least half-time in any term, and who have borrowed from the Federal Direct Loan program must complete Exit Loan Counseling. The purpose of exit counseling is to ensure that students understand their student loan obligations and are prepared for repayment. Through Exit Counseling students learn about their federal student loan payments and recommend repayment strategies that best suits their future plans and goals.

Recommended Resources

The websites below offer valuable resources and news articles, as well as budgeting and personal money management tools:
  • Financial Avenue – Offers online courses to help gain life-long knowledge about personal money management
  • Salary.com – Salary lookup
  • StudentAid  – Financial Awareness Counseling Tool
  • MyMoney.gov  - Federal Financial Well-being tool