Do Tufts students have good sense when it comes to their cents? Though most probably received high scores on their math SATs, not all Jumbos said they are comfortable when it comes to balancing a checkbook or investing money.
"It's a pretty mixed crowd," senior Jos?© Alfaro said. "There are kids here that don't care about managing money, but a lot of my friends are organized in terms of money and how it is spent."
Junior Catie Maillard also felt that financial abilities differ greatly from student to student.
"I'd say that I'm right in the middle," she said. "There are people with stock and bonds who are making all this money, and people who still use their parents' bank accounts and still haven't opened their own."
Some of these differences lie in age and experience. Incoming freshmen have had less time handling money on their own, while upperclassmen have the new challenges of paying bills and rent to give them a financial wake-up call.
Freshman Becca Citron said she "feels comfortable with money" and knows how to budget, but said she has not "really thought about dealing with money after leaving college beyond getting a job."
Iris Dupanovic, another freshman, said that leaving for college has made her more aware of money and finances.
"I had to take entrance counseling to get my Stafford loan," she said. "You read conditions on how to get your loan and have to answer questions about it. It took 20 minutes and at the time it was annoying, but it was actually helpful because I started thinking about finances."
Since coming to Tufts, Dupanovic has been much more involved in handling her own budget.
"Before I would just ask my parents for money when I needed it, so I'd get like $20 or $40 at a time. Now, they give me a certain amount ahead of time, so I don't want to ask for more because they're already paying so much for my education," she said.
Upperclassmen and those living off campus often faced new challenges, which helped them learn financial skills.
"I started working at 16," Alfaro said. "My parents thought it was a good idea to manage my money early and since then I've been budgeting and saving. During the summer, I had to take care of rent, paying my bills on time, dealing with my landlord - it's all part of managing money. I think I can do that because I was able to start early."
Maillard agreed that one of the best ways to learn is by doing.
"I live off campus and I've learned a lot from my dad who is the cheapest person ever," she said. "I keep finances in my house here, and through the process of finding an off-campus house, paying rent and buying food and gas, it has prepared me for actual real life as opposed to college real life."
With the greater independence at college, most students are on their way to managing their own finances, but agree that there is more they could learn.
"I think it would be nice if there were an advising program or if there were somewhere you could go if you needed help [with finance questions]" Citron said.
Sophomore Louis Lee agreed.
"Something at Student Services would be nice," Lee said.
"They have [information] about getting jobs, but even one office to help manage finances would be helpful."
Tufts Career Services offers advice during senior career day, a 'mini-conference' that addresses financial issues - as well as how to dress professionally and other job-related topics.
"We had a program at last year's event called 'Making Sense of Employer Benefits' in which alumnus Michael Ward (LA '90) shared his insider's perspective to the vast array of benefits options which competitive employers are offering to job candidates," Jean Papalia, director of Tufts Career Services, said via email. "The 'Life after Tufts' panel of young alumni also discussed additional financial issues like how to manage your monthly expenses, pay back your loans, and not over-extend your finances."
All students who attended this presentation received a copy of "Life after School Explained" as a gift from the alumni association.
Students interviewed expressed interest in such programs, and said that more guidance would be helpful.
"I think Tufts shouldn't only be preparing students academically, they should be preparing students for life," Alfaro said. "These are skills that you need to go out in the real world."
While students interviewed said they have a lot more to learn, most echoed the sentiments of Maillard:
"I think I'm on my way to becoming financially independent," she said.
