We want you to be ready for anything when you graduate from San Jacinto College. That includes mastering your finances and understanding your student loan repayment options. Use our tools and resources to get started!

Someone in Your Corner

We’ve compiled a comprehensive list of resources for you to use as you start your financial journey. From campus resources to statewide help, find what you need here. 

Community Resource Guides

We understand how challenges outside the classroom can affect your success. Find help for food, clothing, housing, and more.

Student Discounts and Support

  • Student Discounts - Use your student ID and college email account to receive discounts and freebies at restaurants, retail stores, and more.
  • Textbooks - Earn extra cash by selling textbooks you no longer need.
  • Campus Facilities - Use facilities like our weight room instead of buying a membership off campus and save money.

2-1-1 Texas

2-1-1 Texas is a program through the Texas Health and Human Services Commission. This free and anonymous hotline connects you with resources throughout the state of Texas. Find what you need by phone or online. Their services can be used for:

  • Food
  • Housing
  • Child care
  • Crisis counseling
  • Substance abuse treatment

Money Management Resources

Take charge of your financial wellness with these resources:

  • Hands On Banking - Get free 24/7 access to self-paced financial courses.
  • Smart About Money - Courses to help you make sound financial decisions throughout your life.
  • Texas Benefits - Apply for health care, food, financial benefits, and more.
  • Annuity.org - Get easy-to-read insight on managing your money.

7 Steps to Living Within Your Means

While the word budget makes many people shudder, a budget is actually a great tool to use. Budgets empower you to take control of your financial life. By comparing what you make and spend, a budget gives you the financial knowledge to spend your money on what you want while alleviating the stress of doing so. Not sure where to start? We can help with that!
  1. Estimate Your Expenses

    Write down what you think your expenses are and create a one-month estimated budget. Subtract that number from your income.

  2. Track Your Actual Expenses

    For the next month, track your expenses to see where your money is actually going. Don’t forget to account for cash purchases and ATM withdrawals.

  3. Compare Your Expenses

    At the end of the month, compare your estimated budget to your actual expenses. How close was your estimated budget?

  4. Determine Your Needs

    Based on your actual expenses, separate your wants from your needs. A needed expense includes things like rent, food, and bills. These are things you need to survive. A want is something you’d like to have, like dinner at a restaurant or new clothes.

  5. Write Down Your Goals

    Write down both your short and long term financial goals. This will help you stay on track as you follow your budget

  6. Create Your Budget

    Using your actual expenses, create a budget and stick to it. Keep in mind that not every month will look the same. Account for irregular expenses that occur once or a few times a year, for example, car insurance. If your insurance is $600 and due in six months, you should budget $100 a month toward it until it is due.

  7. Track, Review and Adjust

    As months pass, track your spending and adjust your budget as necessary. Paying off debts frees money up to go toward other expenses or to put in savings. You can also use what you’ve tracked to project future income and expenses. Soon, your budget will be aligned with your financial goals!

Budgeting Resources

Use these resources as you create and track your budget.

Keep Track

Resources for Tracking Your Budget

Using an app, computer program, or bank service to help track and manage your expenses can simplify the process. Here are a few tools:

  • Excel Budgeting Templates for College Students
  • EveryDollar is a simple zero-based budgeting app that helps you manage your money with YOUR goals in mind.
  • YNAB app is a zero based budgeting hands-on  system that makes you plan for every dollar you earn.
  • Nerd Wallet is tracks your budget and credit score in the app.  You can view your net worth, cash flow, credit score, home value, wallet, and credit report in one place.
  • Check with your bank. They may have a tool or app to help you stay organized.

Stay Budget Minded

Tips for Staying Within Your Budget

There are many ways to stay within your budget-more than we can list here. But these helpful hints will get you started:

  • Don’t pay full price for textbooks -opt for used or loaner textbooks. Or check out Open Books courses that use free or low-cost online course materials.
  • Cook for yourself instead of eating out.
  • Go to thrift stores for vintage clothing and household items.
  • Use your student ID for discounts around town and online.
  • Take advantage of campus resources and events.

Educate Yourself

Resources to Learn More about Budgeting and Financial Stability

These organizations provide information on money management and connect you to resources that can help with debt relief.

 

Building Credit

Building and maintaining good credit is essential to financial success and freedom. It can make it easier to get a mortgage or buy a car. It can also help save you money, as lenders provide better interest rates to people with good credit. 

But building good credit takes time and effort. There are many factors that go into it, such as paying bills on time, keeping credit card balances low, and protecting your identity. Once you know the basics of credit, you can develop a financial strategy that works for you.

What is Credit?


Credit is your reputation as a borrower. It is made up from the information on your borrowing history and it stays with you for a very long time. Having credit is a privilege, not a right. If you abuse your credit, you can lose your ability to get more credit.

What is a Credit Report?


Your credit report is like your academic transcript, but for money. It shows your credit history. Lenders send information about your borrowing history to agencies called credit bureaus. There are three major credit bureaus: Experian, Equifax, and TransUnion.

You have the right to request one free credit report a year from each of the three credit bureaus. It’s a good idea to request a report every four months from one of the three reporting agencies. This way you are always aware of your credit history, as well as any suspicious activity that can lead to identity theft.

What is my Credit Score?


Your credit score is a number ranging from 300 to 850 that measures how well you manage your finances. The higher the number, the better your credit score. Factors that impact your credit score include your payment history, the age of your credit accounts, the types of credit you use, and the number of credit score inquiries you make.

Your credit score can impact your ability to get loans and credit cards as well as affect your interest rates. To improve your credit score, pay bills on time and keep credit balances low. 

You can view your unofficial credit score through outlets like credit companies, websites like Credit Karma, or get your official score from Annual Credit Report, or FICO.

Credit Report Quick Reference Guide

Credit Report Quick Reference Guide

Use this guide as you start building your credit.
Learn More

What is Credit?


Credit is your reputation as a borrower. It is made up from the information on your borrowing history and it stays with you for a very long time. Having credit is a privilege, not a right. If you abuse your credit, you can lose your ability to get more credit.

What is a Credit Report?


Your credit report is like your academic transcript, but for money. It shows your credit history. Lenders send information about your borrowing history to agencies called credit bureaus. There are three major credit bureaus: Experian, Equifax, and TransUnion.

You have the right to request one free credit report a year from each of the three credit bureaus. It’s a good idea to request a report every four months from one of the three reporting agencies. This way you are always aware of your credit history, as well as any suspicious activity that can lead to identity theft.

What is my Credit Score?


Your credit score is a number ranging from 300 to 850 that measures how well you manage your finances. The higher the number, the better your credit score. Factors that impact your credit score include your payment history, the age of your credit accounts, the types of credit you use, and the number of credit score inquiries you make.

Your credit score can impact your ability to get loans and credit cards as well as affect your interest rates. To improve your credit score, pay bills on time and keep credit balances low. 

You can view your unofficial credit score through outlets like credit companies, websites like Credit Karma, or get your official score from Annual Credit Report, or FICO.

Credit Report Quick Reference Guide

Credit Report Quick Reference Guide

Use this guide as you start building your credit.
Learn More

Saving money takes discipline and sacrifice, but it provides you freedom and financial security while allowing you to take risks later on. Not only does a savings account give you a place to safely store money for the long term, but it also helps your money grow with regular interest payments. Don’t wait until graduation-start saving money now.

How to Save:

  1. Pay Yourself First: Set aside an amount for savings before paying bills or buying other things. Treat it like a bill and make automatic deductions.
  2. Start with a Small Amount: There is no minimum amount for savings. Start small and increase over time. compound interest helps even small amounts grow.
  3. Write a Shopping List: Avoid impulse buying by writing down a shopping list before you head to the store. Base it on your needs and budget. Then here’s the hard part - stick to it!

Choosing the Right Banking Institution


Banks and credit unions not only store your money, but also sell financial services, like car or home loans. Choosing the right financial institution is an important factor in getting the right services and features to meet your financial goals.

Banks and Credit Unions Both Offer:

  • Checking and savings accounts
  • Loans (personal, auto, mortgage)
  • Credit cards
  • Certificates of deposit (CDs)

However, a bank is a for profit organization, while a credit union is owned by its members. Because of this, banks usually have more services and a larger network of branches. But they may also have higher fees and lower interest rates than credit unions.

It’s important to compare the services offered by different banks and credit unions before choosing one. Additionally, you should look for:

  • Great online reviews
  • Digital capabilities, like online banking
  • FDIC insured
  • No balance minimums
  • No costly fees, like returned check, overdraft, monthly, and ATM fees

Saving for College Students

Saving for College Students

Get more tips on how to save money while in school!
Learn More

Debt management involves living within your means to pay off debts, particularly unsecured debts, like credit cards. Among other benefits, effective debt management can improve your credit score. It’s important to understand the terms and risks associated with each type before taking it on.

Types of Debt

Revolving Debt - This means there is not a fixed monthly payment.

Secured Loans - Secured loans are backed by collateral or assets you own, like a car or house.

Unsecured Loans - An unsecured loan is one that is not backed by collateral or assets, meaning the lender is taking a larger risk. 

Credit Cards - Credit cards are a form of revolving debt. Interest rates can be high and failure to make payments can negatively impact your credit score.

Consumer Loans - Sometimes called personal loans, consumer loans are typically unsecured loans. This may lead to higher interest rates than other types of loans. Your interest rate and loan term depends on your credit history and is determined by the bank.

Payday Loans - Payday loans are small, short-term loans that come with very high interest rates and fees. They are typically a dangerous and expensive form of credit.

Automobile - Automobile loans are secured debts. Auto loans can have high monthly payments and interest rates, and purchasing a car with payments higher than you can afford can quickly become a financial burden. 

Home Loans - Home loans, or mortgages, are another form of secured debt, as your house can be used as collateral for missing payments. Rates can be either fixed or variable.

College Loans - There are two types of student loans: federal and private loans. Federal loans are owned by the US Department of Education and have a fixed interest rate. Private loans are owned by financial institutions. Interest rates for private loans vary depending on your credit history.

Managing Your Debt


You can manage your debt with a little patience and focus. Here are a few tips to get you started:

Create a Debt Reduction Plan

Create a Debt Reduction Plan

Use these tips to help you create a plan to reduce your debt.
Learn More

Identity theft happens when someone uses your personal information to take out loans, buy things, or receive medical care in your name. This can harm your credit report and financial future. To reduce the risk of identity theft you can:

  • Protect your personal information
  • Regularly check your bank and credit card statements for discrepancies
  • Shred documents with personal information on them
  • Opt out of receiving prescreened offers of credit and insurance
  • Use Uni-Ball pens, which trap ink on the paper, to deter identity thieves 

Types of Identity Theft

  • Phishing - This is when someone sends an email to a user and falsely claims to be a legitimate establishment. Forward all spam requesting your financial information to spam@uce.gov.
  • Skimming - This is a phony card reader attached to a device that captures all of your personal information.
  • Shoulder Surfing - This is when someone gathers information while standing over you at the ATM. It is also when your card becomes trapped in the ATM, and they remove your card once you leave.
  • Cell Phone Camera Scam - This happens when someone takes your wallet and takes photos of all your information. They then return your wallet with everything inside.
  • Mail Theft - Mail theft is when someone steals your outgoing mail. It’s safest to deposit mail at the post office. If you suspect your mail has been tampered with, contact the post office
  • Jury Duty Scam - Jury duty scams are when someone calls you saying you missed jury duty. They ask for your name, social security number, date of birth, and address. Note that most contact for jury duty will come through the mail.
  • Dumpster Diving - Dumpster diving is when an identity thief goes through your personal trash or a business's trash looking for personal information.
  • Student Loan Scams - Some scammers claim to be able to reduce your student loan debt. Avoid paying upfront fees to companies that claim they can reduce or eliminate your student loan debt. These companies may be scams, as it is illegal for them to take money before they help you. If you believe you have been scammed, report it to your state Attorney General’s Office.

Recovering From Identity Theft


Fixing the damage can be simple or it can take months-it all depends on you. Take these steps as soon as you can to recover quickly.

  1. Notify the credit bureaus (Experian, TransUnion, and Equifax) and let them know you want a fraud alert placed on your credit record and consider a credit freeze
  2. Contact law enforcement and government agencies
  3. Close the fraudulent accounts
  4. Deal with debt collectors
  5. Continue to monitor your credit reports

Want to Know More?

Want to Know More?

Find out more about what to do if your identity has been stolen.
More on Identity Theft

Is Plastic Fantastic?

Credit cards can be a great way to pay for things you need and build your credit. But they can also be a source of financial trouble if not used correctly. It’s important to understand the pros and cons of credit cards before deciding to apply for one.

Credit Card Pros

  • Convenient - you don’t have to carry cash
  • Trackable - Through monthly statements you have an accurate record of your spending
  • Member Perks - Some cards come with a range of discounts based on purchase
  • Purchase protection - Your credit card can assist in returning defective products
  • Building Credit - Responsible use and repayment helps establish a good credit rating

Credit Card Cons

  • Fees - Some cards have annual or cash advance fees
  • Interest Charges - If you do not pay off your credit card each month, you will accrue interest and pay more in the long run
  • Temptation - The convenience of credit cards can lead to overspending

 

 

To ensure responsible credit card use, commit to your budget and leave the plastic at home when you don’t need it. This will help cut spending temptation. It’s also a good idea to pay off outstanding balances quickly to reduce the amount of interest you pay, and to allow for more money in your budget for other things.

more budgeting knowledge

Further increase your financial literacy with tips on budgeting, how to track your income, and how to track your expenses.

 

Request a Presentation

Do you know a group of students who could benefit from a financial literacy presentation? Request the course by contacting Elena Oliver at 281-991-2645 or Elena.Oliver@sjcd.edu. 

In-Person Presentation

You provide the space and we’ll provide the knowledge! Presentations are 15 to 30 minutes long and cover:

  • Budgeting
  • Debt reduction
  • Identity theft
  • Credit cards
  • Credit Scores
  • Monitoring

We just need computer access and a place to project our presentation. Please submit requests at least two weeks ahead of time. In your request, please include: your name, class or organization name, email address, phone number, presentation location, date and time preference, and estimated number of attendees. 

Contact Us

For general questions, please reach out to our financial aid office at 281-998-6150. 

Connect with Us
Elena Olivier
Coord, Default Management
Phone
(281) 991-2645