SALT program helps students manage finances

Lynda Zook Washburn Review

Washburn  is partnering with American Student Assistance, a non-profit organization, to deliver SALT to students and recent graduates. 

SALT is an interactive non-profit financial program that offers advice, resources and tools for students to better manage their money and student loan services. Washburn is giving student’s free membership in the program. A student membership provides online access to resources in banking, credit, paying for college, internships and job searches. There are financial calculators to determine interest on loans, savings and budget creation.  

SALT also provides an array of forms for student loans management including applications, deferrals and payback options. Every student’s loan information is individually tracked in one place, making it easy to access and manage. 

Jacob Bailey, senior business management major, has paid his way through school but believes this is a great idea for other Washburn students. 

“Students don’t fully understand how loans work or the best way to go about paying them off,” said Bailey. “Anything to help them understand or address it is good.”

Some students said they’d use the program if it wasn’t too consuming.

“I’d probably use it if it is simple and doesn’t take a lot of time or effort,” said Dallas Hathaway, sophomore communications. “It’s hard to keep track of finances with all the other stuff you have to do. It’s hard just to find time.” 

Rebecca Armentrout, freshman fine arts major, agrees that most students don’t have enough time in a day or experience budgeting their spending. 

“Someone right out of high school doesn’t realize things are totally different here. You have to actually put down money here for meals and things outside school,” said Armentrout. “It’s not like you have a card to swipe or track it for you.”

Both Hathaway and Armentrout see this program benefitting graduates.

“It’s hard to find a job,” said Armentrout. “You come here to get a degree. You owe all this money. When it comes time to graduate, then you have to go out and compete with all these other people. So this is good especially for someone who’s getting ready to graduate.”