The average graduating student debt load at Iowa State is approximately $31,000. If you’re like me, my graduating debt far exceeds that amount. Being an out-of-state student has really taken a toll on the financial debt that I will have to deal with after graduation.

That said, the Government of the Student Body has been passionate about working with the university on implementing and promoting a basic financial literacy program for students. Currently, GSB is working with the Office of Student Financial Aid and the ISU Financial Counseling Clinic to develop and implement a financial aid campaign set to launch early next semester to promote the plethora of resources that already exist here at Iowa State.

Another avenue that GSB is exploring is a simple, one credit, online course similar in structure to Library 160. It will teach basic financial life skills for all students. Topics included would be: how to choose a credit card that best fits your spending habits, basic investing principles, student loans, and retirement options. HDFS 283 is currently a course open to all students that teaches multiple financial topics in great detail. It will be offered in the spring semester online or in person for three credits.

This course would be available for all Iowa State students in the hopes that we can discontinue the debt trend that plagues current students. Many students can agree that in this unstable economy, we need to unite and proactively make fiscally responsible decisions. Benefits to having a course such as this, available to a multitude of students, would be the direct skills learned and utilized in everyday life. It would also help to curb the fiscal irresponsibility of credit card spending, create wiser use of student loans, and ultimately help students graduate with less debt. However, some problems that could arise are logistical issues, such as attaining initial start up funds to implement the course, the number of students who would want to and would be able to take the class, and a person to teach the course.

If this one credit course comes to fruition, it would benefit all students for present and future financial decisions that will have to be made. I encourage and welcome any thoughts or comments on this idea and hope to garner your support as we move forward on this project! Go Cyclones!

— Maggie Luttrell is the vice president of the Government of the Student Body and a senior in history