As University of Oregon students — from freshmen to seniors to graduate students — begin to handle their own finances for perhaps the first time in their lives, a solid understanding of economic vocabulary and financial concepts often can be elusive.
That’s why the University of Oregon has teamed up with American Student Assistance to create SALT, a new online financial literacy program aimed at improving students’ working knowledge of how student loans work, how debt can be repaid, how to land a job during and after college, as well as many other important economic concepts.
The name for the online program comes from the historical importance of salt as one of the first forms of currency used by civilized people.
SALT at the UO exists as an extension of the Office of Student Financial Aid and Scholarships’ Financial Flight Plan, which provides workshops, outreach opportunities and other resources throughout the academic year for students trying to understand how their finances work.
“We know not all students will come to a workshop, so we wanted to provide a passive way for students to learn about their finances as well and that’s where SALT comes in,” said Jennifer Bell, associate director for advising in the Office of Student Financial Aid and Scholarships. “It offers a lot of really, really nice resources in addition to what we offer.”
SALT is comprised of interactive online courses that break down budgeting, money management, employment, loan repayment, identity theft and more — and best of all, it’s completely free for UO students and staff, faculty and alumni. It takes about 30 seconds to sign up and is customized to fit the needs of the user.
“It brings students’ attention to articles related to college finances as well as things that are important for after college, like budgeting,” Bell said. “It’s tailored to where students are at in their education, so for example, freshmen will be directed to jobs on campus and seniors will be directed to information on how to negotiate a salary.”
While the complex jargon used by government departments and financial institutions is confusing to pretty much everyone — especially college students — SALT and the other resources offered by the Office of Student Financial Aid and Scholarships are a good resource for anyone feeling discouraged.
“SALT really is very comprehensive,” Bell said. “If there’s one thing we want students to know, it’s this: Just don’t bury your head in the sand. There’s lots of resources available and our staff is always willing to help students walk through things.”
—By Nathaniel Brown, University Communications intern