To help solve the student debt crisis, let’s enlist an army of financial educators on college campuses

As a recent 2016 graduate, I know the challenges that come with carrying student debt. I currently face $60,000 in student loans. But I am not afraid. In fact, I am just the opposite. I am optimistic about my future. I know there is enormous value in my degree. And I feel prepared to manage and pay back those loans.

While we must work to lower the costs and barriers to college, I believe just as strongly that by empowering students to take control of their finances before and during college, we can help those like me achieve their dreams without being dragged down by debt. One solution is to enlist an army of student financial educators to reach other students directly.

{mosads}Working for the financial aid office at Howard University, I had the opportunity to be on the front lines of this effort, engaging with a new program on campus called Salt by the nonprofit American Student Assistance. I soon realized that just as important as my academic education is my financial education. I learned to budget more responsibly, to make a real plan and to proactively address my student loan debt. And I was inspired to study economics.

I am lucky to have worked as a financial education ambassador during my time at Howard, where I teamed up with other school organizations to present and teach financial education to other students.

Students often don’t listen to their parents or an academic official. But when their classmate and friend tells them to pay attention to their money, I found many engaged and were ready to learn. I found that this model actually works.

In several cases, my lessons on financial literacy and student debt were completely packed. Dozens of students would fill a room to learn from me, and I felt inspired to share my knowledge and firsthand experience with them.

During one lesson, a sophomore asked me how I adjusted my lifestyle to incorporate my credit card payments and student loans? I told them it is about priority and responsibility. I discussed the consequences of not paying your credit card bill and how it can negatively affect your credit score, which ultimately puts you in a bad position to get another loan.

As it turns out, that same student was not paying back a loan and didn’t know about good and bad credit. I explained that a credit card is not free money, just borrowed money, and how paying it back has huge benefits in the long run. A year later, that same student came back to one of my seminars and told me that I had changed their whole perspective on budgeting and how to be financially savvy. This is just one of hundreds of people I reached during my time at Howard.

Again and again I would make these three key points:

1. Loans are a promise and a responsibility. You must repay loans whether you like it or not. When you sign your name on that contract you become legally obligated to repay that money. Not paying them back can have major consequences.
2. Stick to your original budget. If you made a promise to yourself that you would not go over a certain amount, stick to that original plan. It was made for a reason, whether it was because you have bills to pay or you just should not be spending money you don’t have.
3. Utilize free resources to learn, plan, budget and engage. There is so much information available. It takes no time to seek it out. Be proactive. Stay involved.

I’d like to think I made a difference. But I know there is so much more that colleges and our government can do to support this effort.

If we care about college students being financially savvy and aware post-graduation, then we need to work together and make it happen. It needs to be a team effort, with more schools offering financial education programs like Salt at Howard. Students need neutral advice and guidance to help them succeed. And we need an army of other students to help deliver it.

Andrew Brown is a recent graduate of the class of 2016. He received his B.A. in Economics from Howard University.