Low cost/no cost financial planning for students?

November 26, 2007 12:38 PM

Where would I go to get free or low-cost and unbiased financial advice in regards to student loan debt and big-picture student financial planning?

I'm a third-year college student with a fairly considerable amount of debt in the form of student loans and credit cards. Aside from the financial aid office at my university (which has been of little help thus far), where can I go to get unbiased advice and big-picture planning regarding my debt situation, the best methods of debt consolidation and payment distribution while in school and thereafter, and careful consideration of options for funding my remaining two years of college? Are there any financial planners who specialize in this field who wouldn't charge me an arm and a leg?

Furthermore, I'm at the point where I could still change my university major without much loss of hours. It would be great if said person could assist me in taking a careful look at career planning while taking my financial problems into account.

posted by iamisaid to Work & Money (5 answers total)

Is there a credit union where you live? They often have no-cost financial planners with whom you can sit down and ask all these questions.
posted by jujube at 1:20 PM on November 26, 2007

You should at least have a career services office in college, and there are a lot of colleges these days that also have financial advisors that would be adept at situations such as these. I would start by calling your career services office to make an appointment at least for the career planning section and see if they have any in-house financial advisors. If not, they should have some recommendations about where you can go.

Best part? As a student, this will be free.
posted by bibbit at 2:46 PM on November 26, 2007

I just got Suze Orman's Young, Fabulous & Broke, which I think is a good guide for our generation's money problems.
posted by radioamy at 3:20 PM on November 26, 2007

Seconding career services. They will not specifically deal with your financial situation , but they will be able to give you career advice which will dramatically impact how you can pay back your student loans. Take this from the sixth year classics major who is teaching to pay off an embarrassing large student loan bill.
posted by aetg at 3:42 PM on November 26, 2007

If you go down the financial planner route, try and find an independent one. Many are associated with one brand of product and some will try (very hard) to sell you products. Remember that they get healthy trailing comissions from each sale.

Also look out for Financial Coaches - they can help you put together a plan and help you track your progress.

Disclaimer: My wife operates a financial coaching business.
posted by dantodd at 5:23 PM on November 26, 2007