Sara Miller
(315) 443-9038
An innovative grant program developed and offered by the Office of Financial Aid and Scholarship Programs at Syracuse University is educating students to enable them to make smart decisions about money while reducing their educational loan burden.
The Money Awareness Program, or MAP, aims to enhance the SU experience by replacing some students’ high-interest loans with University grant funding—equaling on average $5,000-$7,000 annually. The program is geared toward sophomores, juniors or seniors that have borrowed alternative loan funding in addition to the maximum federal student loans to pay for college, and who are making satisfactory academic progress toward their degrees. Each participating student is required to take part in a financial literacy session once a semester. The goal of the financial literacy component is to help students understand credit and basic financial management skills.
The program was featured recently in The Chronicle of Higher Education for its originality in combining financial knowledge and loan debt reduction. “The MAP is one of our initiatives that allows us to reduce the financial burden students—and their families—are facing now, while also preparing them for life beyond college,” says Youlonda Copeland-Morgan, SU associate vice president for enrollment management.
Rebecca Rose, loan education specialist and MAP coordinator in the Office of Financial Aid and Scholarship Programs, helped develop the program and provides the actual instruction to the students in the program. The MAP instruction focuses on education in the financial issues most relevant to students now and in their future—the best ways to borrow; understanding the terms of loan repayment; and personal money management, including spending, saving, budgeting, credit cards and credit scores. MAP will continue to support the students until graduation, provided they continue to fulfill the financial literacy requirement.
In addition, the students must sign a MAP contract stating their commitment to lowering loan borrowing. The contract encourages students to find alternative sources of financial aid, such as scholarships.
“As financial aid professionals, we see the need for students to learn how to manage money,” says Rose. “Through the MAP, we’re able to address that need and provide our students with the financial literacy skills that will benefit them throughout their lifetimes.”
We want to know how you experience Syracuse University. Take a photo and share it with us. We select photos from a variety of sources. Submit photos of your University experience using #SyracuseU on social media, fill out a submission…
Robert Thompson, Trustee Professor of television, radio and film and director of the Bleier Center for Television and Popular Culture in the Newhouse School, was quoted in the Washington Examiner article “Nips and poops: Biden dogs cause ‘Major’ headaches.” Thompson,…
Scott Landes, associate professor of sociology in the Maxwell School, was interviewed for the PBS NewsHour story “Relative invisibility makes for uphill battle to get COVID vaccines for Americans with IDD.” Landes, an expert on the sociology of disability, has…
Yingyi Ma, associate professor of sociology in the Maxwell School, was interviewed for The Chronicle of Higher Education Q&A piece “Global: How International Students’ Perception of Racism in the U.S. Has Changed.” Ma, who also serves as the director of…
Corri Zoli, research assistant professor of political science in the Maxwell School and director of research in the Institute for Security Policy and Law, was quoted in the South China Morning Post article “UN panel warns that ‘well-known global brands’…
If you need help with your subscription, contact sunews@syr.edu.
