SALT program at Plymouth State University aims to help students with finances

Plymouth State University (PSU) has taken action in helping students with their finances by bringing SALT, a free educational program that helps college students to manage their student debt, loans, and more, to the university. 

Money and debt is a large issue when it comes to college students. Students are constantly on a tight budget because of rent, food they need to buy, bills to pay, etc. Keeping track of all of this can be difficult for a student. What can be even more challenging is managing their debt and finances in terms of college.

That is why PSU has teamed up with SALT this past year in order for students to gain knowledge over their finances.

According to the SALT website, the program was “created by American Student Assistance (ASA), a nonprofit organization with 50+ years’ experience helping people make better decisions about financing their education and repaying their student loans.”

The purpose of the SALT program described by the website as way to provide students with “a free educational resource that provides simple, smart, personalized ways for college students and recent graduates to take control of their student debt and manage their finances.”

“SALT can help students with tracking and planning out their student loans. You can speak with SALT representatives and get personalized guidance with loan questions, and even how to communicate effectively with lenders. On the web page there are also many ways to find scholarships, internships, and even jobs. There are also many articles and money courses that can teach users how to be money smart” according to PSU SALT Ambassador, Alexa Moore.

The website is broken down into categories that focus on different topics in regards to student finances.

My Money 101 provides students with interactive money lessons that help students learn about topics such as budgeting, credit cards, financial aid, student loans, and loan repayment.

Goals assists students in becoming more money savvy by providing articles and advice in learning the basics, paying for school, paying bills and student loans, making large purchases, and career goals.

Loan Help offers students a chance to determine and “keep track of all your debt in one place see how your student loans, car payments, credit cards, and more impact your finances” as stated on the SALT website. Students can also review loan payment plans, overcome missed loans payments, and reduce and eliminate their loans.

Resources provide students with the forms, terms, tools and apps, as well as lessons in getting the help they need in regards to their finances.

Lastly, Connect allows students to join together and talk about student loans, debt, and more on their blog site. Students also have the ability to chat live with a SALT representative to learn more about the program and get their questions answered.

When talking to fellow PSU students, many knew of the SALT program, but did not know what the program details and what it had to offer for them as students.

“I am aware of the SALT program and I am part of the website, however I do not know how to use it and I do not know what to use it for, so I have done nothing with the program” as explained by sophomore Elizabeth Gagnon.

“I have heard about [SALT] and seen their booths in the HUB but I am not sure if I am a part of [the program]” states sophomore Jamie Hunt.

Other students, such as junior Dana Caggiano, knew about the program, has an account and used SALT to find and apply for scholarships.

PSU has been making an effort over this past school year for students to become more aware of the SALT program. PSU wants students to become involved and come to learn what benefits the program can do for them as students. 

“We send emails periodically. And about 2 weeks ago our six week ambassador program ended. We tabled about 3-4 times a week in the HUB and activated 433 students in that time. We also had an ice cream social in front of the hub. Last semester we had a pinata event. We lost periodically on the Financial Aid twitter and Facebook accounts. We also meet with clubs and organizations and try to promote it in class. Basically anything that we think will work we do it” according to Moore.

Plymouth State and SALT have established a connection because they want students to succeed and how much this program can benefit them.

“Students should be using this SALT program because of all the different ways the program can benefit them [as she explained in an earlier statement]. Students should take advantage of this program now while it is free, and being offered to them. PSU is paying for this service, and students should use this opportunity to take control of their finances and student loans” states Moore.

Though financial aid at PSU has been stretched to its limits, SALT can be a way for students to find new ways to get themselves the assistance they in order to continue their education.

“SALT teaches students how to manage all their finances, and be smart about the loans they do need to take out. By being knowledgeable about money and the loan process can show students that loans are not the only option. The scholarship option on saltmoney.org is a great alternative to students who are having trouble meeting the tuition costs” as explained by Moore.

Moore also explained that SALT is showing students that taking out more loans are not the only option when it comes to covering the cost of tuition.

“SALT also teaches students that loan debt is not the end of the world. As long as you budget properly, only take what you need, and make use of the many different repayment and loan forgiveness programs, paying student loans back should be a simple and almost painless process for all students” says Moore.

The bottom line is that overall most Plymouth State students will do what they need to do in order to stay at Plymouth State University. Even though the students will be in debt for quite some time after they graduate, they realize that it is worth it in achieving their future career aspirations.

Yes I would [do what she has to do to stay in college]. I'm slowly paying everything off. I already finished paying off my first two years of school. But I am grateful for the education I am getting here” states Caggiano.

PSU has taken action to help students the best they can in regards to their finances by bringing programs such as SALT to the university. PSU understands how difficult it is for a college student in today’s world and want to help as much as they can.

“PSU absolutely does the best they can to allocate their limited funds in both need based and merit aid to PSU students. We [PSU] also do our best to allocate need based funds in the most equitable and fair manner possible” according to Financial Aid staff member Crystal Gaff.

Some might disagree, but Plymouth State University does care and they want every student to be able to attain their degree and have a successful life.

“PSU wants our students to graduate and be successful. That is what we are HERE for! And, in my opinion, this is the most caring community of people I have ever encountered” says Gaff.

By taking advantage of what PSU has to offer, students do have the ability to make it through college. It might take some time, but students know that paying all this money will be worth it in the future.