Harvard financial aid office enlists students to teach peers about money

Harvard College's financial aid office has started a peer-led program to teach undergraduates the basics of managing money, The Harvard Crimson reported this month.

The Harvard Financial Literacy Program is run by three student interns in the Griffin Financial Aid Office, with support from aid staff, according to the program's page on the college website.

What it offers

• Student-to-student sessions on budgeting, building credit and investing
• Guidance on the aid process and on planning for life after graduation
• A newsletter on campus jobs and free local events, according to the Crimson
• Partnerships with student clubs and offices, such as talks at club meetings or study breaks

The college page lists no workshop schedule yet. Students can reach the program at finlit@fas.harvard.edu.

Why peers

The aid office previously offered staff-led "Financial Aid 101" sessions on work-study, grants, scholarships and loans. Feedback suggested presentations by administrators were not the most effective format, the Crimson reported, so the office turned to students for a more interactive approach.

Context

The program follows Harvard's expansion of financial aid announced more than a year ago. Under that policy, families earning $200,000 or less with typical assets pay no tuition, and families earning $100,000 or less also have housing, food and other costs covered, the Crimson noted.

Several Harvard graduate schools already offer their own money-management help, including debt counseling and credit advice.