NYIT College of Osteopathic Medicine Animated image of doctoral and medicinal related objects with the words College of Osteopathic Medicine inside it.
Financial Literacy

Financial Literacy

Once you have decided to enroll in college, be sure to consider:

  • How you will finance your education,
  • The amount of indebtedness you are willing to incur, and
  • How to live on a fixed allowance.

Good money management is a learned skill. Remember that the goal of budgeting is to live within your means and avoid unnecessary debt.

NYITCOM's Office of Student Financial Aid encourages you to educate yourself about personal finance, including how the cost of your education impacts your finances now and in the future. We are happy to offer the following list of resources to help you improve your understanding of financial concepts and services, while promoting fiscal responsibility before, during, and after your studies here at NYIT.

Financial Aid and Loan Information: Know Before You Borrow

Federal Student Aid: The U.S. Department of Education site as a one-stop page for all things Federal Student Aid. Each page contains a glossary detailing commonly used financial aid terms and ways to contact the Department of Education.

  • Federal Student Aid Facebook page: If you "Like" this page, updates will show up on your own Facebook news feed. The page is updated regularly and you can write on the page's wall to give/receive feedback.
  • Federal Student Aid Twitter page: Get multiple reminders each day about federal aid. If you have questions or comments, tweet them @FAFSA!

FedLoan Servicing: Get information that can help you make informed decisions about loans you have borrowed or plan to borrow, and how to become eligible for Public Service Loan Forgiveness (PSLF).

WiseBread: WiseBread is a blog providing financial aid advice to real-life situations.

AAMC FIRST: This site was developed for medical students and is an excellent resource, offering financial information, resources, services, and tools.

Financial Aid and Loan Information: After You Graduate

Financial Success & Wellness: New York Tech partnered with Our Money Matters to provide you with an interactive platform that helps you take command of your financial future. This platform provides you with tools, resources, articles and more!

Managing Your Personal Finances

360 Degrees of Financial Literacy: Another AICPA resources specifically addressing the needs of college students and recent graduates.

America Saves: A not-for-profit site dedicated to helping people save money, reduce debt, and gain wealth.

Personal Finance: Short personal finance videos, covering budgeting, interest, investments, housing, and taxes to help you understand day to day finances.

ECMC's FAB site: Basic information on a wide range of topics from finances and insurance to managing your records and avoiding fraud or identity theft.

feedthepig.org: An AICPA site that helps you manage your money, credit, and debt.

Guide to Credit Cards: A Federal Reserve System site that explains credit cards, from interest rates and fees to repayment options (also has some Spanish content).

Identity Theft: This Federal Trade Commission (FTC) site has information about preventing identity theft and recovering from identity theft should you ever become a victim for it.

Mint: This is an easy way to keep track of your spending by having your bank account activity analyzed. You can sign up for a free secure account and sync the information on your account between your computer and mobile devices.

Money Management Checklist for College Students

Paycheck City: Paycheck City is a web-based paycheck calculator you can use to calculate your net (or "take home") pay. It will help you better understand your paycheck and determine your budget for the week, month, or year.

Your Credit Report: You are entitled to 3 FREE credit reports annually. Your credit history can be reported to any or all of these credit agencies: