 "Photo: Tim McKenny")
Rocky Czaplewski used to lose sleep over his finances.
Like many of his classmates, the senior psychology major depends primarily on student loans to pay for school and works part-time to cover living expenses.
"Living by myself and being responsible (for finances) ... was one of the most difficult things transitioning to college," he said.
Junk mail from a private loan company taught Czaplewski strategies for managing his loans, but he worries about landing a post-graduation salary high enough to begin paying the government back.
The Association of Students of the University of Nebraska is forming a peer-advisory program for students such as Czaplewski who are concerned about personal finance. The project was one of the Bright Party's election platforms last year.
The Student Money Management Center will offer free financial advising to students by students. The center will be a contact system for peer advisers who will meet with students privately and confidentially.
Students learn best from peers, said Ashley Wergin, a senior finance major who plans to be center adviser. Wergin recently helped a friend budget expenses, she said, and she is excited to help other students.
"It's a really a good feeling to have control of your money and not have to worry when the bill comes every month," Wergin said. "Once you have that money set aside, the rest is for fun."
ASUN plans to have the service available by early November and began recruiting peer advisers this month, many from finance and other money-related majors. Any interested students may apply through ASUN.
On Oct. 12 student advisers will undergo training from Kathy Prochaska-Cue, University of Nebraska-Lincoln extension family economist. Prochaska-Cue is a certified financial adviser.
Students will learn how to advise about credit cards, budgeting, student loans, insurance and other matters.
"It's no wonder students are in debt," said Emily Zimmer, a senior political science major and president of ASUN. "No one is teaching them how not to be."
Peer advisers also will refer students to resources on campus and in Lincoln when problems exceed their expertise. All student advisers will meet monthly with Prochaska-Cue to learn more.
"We want to be sure that the advice (advisers) are giving students is sound," she said. "Not just something they got off the Web."
Checks will be in place to ensure students get quality advice and won't be put at risk.
Czaplewski found advice through the mail and his parents, he said, but he said he thinks the center is a good idea for others who haven't figured out finance.
"Being financially literate is more and more important," Zimmer said, "Making all of these decisions for the first time ... can be empowering, but I think for a lot of students their money controls them."
rachelalbin@dailynebraskan.com
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