About TU

Important Money Management Topics

Below are the recommended five main areas important to begin managing your money while in college. Click on the Topic link to find detailed information about each category. 

If you would like to make an appointment to meet with one of our counselors, contact us by e-mail mymoney@towson.edu or call at 410-704-5269.

Main Topics Items Discussed

Each semester you need to determine your budget to pay for direct (tuition, fees, housing, meals) and indirect costs (insurance, off-campus housing, transportation, personal expenses).

TIP Calculate how much money you spend on food each month.  Students who learned budgeting from one of our coaches found they were spending on average $300 - $400 a month on food - even with they had an on-campus meal plan!

If you use a credit card to pay your bill, a 2.75% convenience fee (minimum $3.00) will be charged.

You student loans will show on your credit report - but should be in "deferred" status, unless you don't meet the terms of the loan.

The official website to view your free credit report is:  http://www.annualcreditreport.com/

Your credit report provides all your credit history.  Review it for accuracy and dispute any charges.

Learn more about whether or not it is appropriate for you to have a credit card and if so, what kind might be the best!: 


Student loans and credit cards are typical forms of debt for college students.  But there are other types of bills you may be responsible for paying - such as a car loan, health or car insurance, rent, cable, telephone, etc.

There are many free resources available to you to help you manage your credit.  Consider using one of the following:

  • A TU financial coach - Email mymoney@towson.edu
  • Self-help tools to help you set a realistic budget
  • Debt relief services, such as credit counseling or debt settlement
  • Debt consolidation

Many students think it's impossible to save money while in school.  But there are three possible sources of income you can use to save money:

  • Financial aid rebate
  • Tax refund
  • Money you earn

Take what you need each semester to pay for out-of-pocket expenses - and put the rest in a savings account!

One fact students overlook is that you have time on your side.  You have time to let your money grow, even if you start saving with very little money.  This is because over time, interest rates allow your money to compound and increase.  Use this calculator to see how to grow your savings!

About 20% of identity theft happens to someone under the age of 30 - by someone they know!  Learn the signs of identity theft.

If you work on-campus and are enrolled for 6 credit hours or more, you are not charged FICA tax.
2015 exemption amount is $10,000

Financial Services
Administration Building, Fourth Floor (map) (How to use the map link)
Hours: Monday - Friday, 9:30 a.m. - 3:30 p.m.

Phone: 410-704-5269
Fax: 410-704-4910
E-mail: mfortier@towson.edu

Did you know

• It's good to have money and the things that money can buy, but it's good, too, to check up once in a while and make sure that you haven't lost the things that money can't buy.

- George Horace Lorimer






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