Mapping Your Future now offers financial literacy counseling, bringing the total number of Online Student Loan Counseling (OSLC) sessions to 18.

Students can learn the difference between gross and net income, how to balance a checkbook, and the steps to financial responsibility -- to name just some of the topics covered in a new counseling session offered by Mapping Your Future.

Financial literacy counseling is a great resource for schools and a great benefit to students," said Cathy Mueller, executive director of Mapping Your Future. "The interactive nature of Mapping Your Future's counseling helps students learn important money management techniques that are necessary for achieving financial success."

By using Mapping Your Future's program, schools are able to confirm that students have completed the financial literacy counseling. Schools that already participate in Mapping Your Future's counseling will need to add this new counseling type to their account to begin offering it to their students.

The financial literacy counseling session presents information in 12 steps that will help guide postsecondary school students on the path to financial success:

1. Be accountable and responsible.
2. Set and plan goals.
3. Understand your income.
4. Open a checking account.
5. Open a savings account.
6. Create a budget.
7. Borrow smart.
8. Manage your credit cards wisely.
9. Regularly review and understand your credit report.
10. Protect yourself from identity theft.
11. Understand your tax liability.
12. Don't be afraid to ask for help.

To experience financial literacy counseling from the student perspective, follow these steps:

1. Go to the Mapping Your Future home page at MappingYourFuture.org
2. Click the "complete Online Student Loan Counseling" link on the left side of the page
3. Select "Financial literacy counseling" (under "Other counseling")
4. Choose Texas as your state
5. Select MYF Demo School as your school

Postsecondary schools that have an existing OSLC account and would like to add financial literacy counseling to their participation categories should contact the Mapping Your Future customer care staff at feedback@mappingyourfuture.org. Schools that don't have an OSLC account should complete the school submission form at mappingyourfuture.org/oslc/schoolsignup.cfm to request participation.

In addition to offering the counseling session, Mapping Your Future has made the content available on the website as a printable guide so anyone can learn more about managing their finances. The guide is online at mappingyourfuture.org/downloads/financialliteracyguide.pdf.

Mapping Your Future offers a variety of OSLC sessions in addition to financial literacy counseling all available on its website at MappingYourFuture.org. OSLC enables schools and students to meet federal loan counseling requirements conveniently. It also enhances the loan management and financial literacy education of the student by actively involving them in the counseling - making OSLC an important default prevention tool. It can provide busy school staff with an opportunity to spend more time with those students needing assistance in the loan process.

OSLC is a free service, provided by the 35 guaranty agencies of the Federal Family Education Loan Program (FFELP) that sponsor Mapping Your Future, as well as the Friends that support the organization. All of the counseling sessions are guarantor and lender neutral.

Based in Round Rock, Texas, Mapping Your Future is a public-service organization of the financial aid industry--bringing together the expertise of the industry to provide services online. Mapping Your Future provides information and services in a neutral and non-commercial format for the ultimate benefit of students and families. Since 1996, Mapping Your Future has received a number of awards, including recognition for its excellence in content and innovation in technology services.

Mapping Your Future (MappingYourFuture.org) provides step-by-step instructions on career, college planning and financial aid. In addition, the site offers Online Student Loan Counseling, money management information and tools and online customer service for schools and their students.

Posted 09/03/09 to www.NASFAA.org. Posting of press releases is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.