Back by popular demand, the Financial Fitness series returns to SLU LAW this academic year. The Offices of Student Financial Services and Career Services at SLU LAW host these sessions hoping students will develop their financial skills while in law school and prepare themselves for financial success after law school. These 45-minute sessions address financial topics important to law students like budgeting, credit, investing and assessing a job benefits package.
“The sessions on budgeting and investments have been extremely helpful in making sure I take control of my financial situation, and I meet my goals,” said 2L Jen Peck, who attended some of the sessions last year. “With the average student loan debt increasing, especially for graduate/professional schools, being proactive in managing finances is imperative for success post-law school. Building a responsible and feasible budget is important to ensure that not only are my student loans being paid but also that I can live a comfortable life within my means.”
Nine sessions were held during the 2014-2015 school year. Jessica Seavers, financial aid coordinator at SLU LAW, presented sessions on student loan repayment and forgiveness. Alumni from SLU’s John Cook School of Business, David Zaegel and Michael Daley, were also invited to share their knowledge as financial planners.
“The habits and disciplines we are building together during these sessions form the foundations of all the financially successful people that we coach every day,” explained Zaegel, CPA. “The earlier a person can build the foundations of financial success, the more likely they are to reach their long-term goals. Unfortunately, it’s common for people start their careers, then 5-10 years later look back and wonder why they aren’t in better financial shape.”
Students welcomed this perspective on how to improve their finances. “These information sessions provide students with the opportunity to receive real world financial advice from real financial advisers while gaining the ability to access different financial situations to make an informed, educated decision,” said 2L Steven Levitt. “Some of the most helpful sessions cover non-traditional financial topics such as evaluating job benefits. These sessions give you information in areas people don't usually know enough about, especially coming out of school.”
During the 2015-2016 school year, the goal is to once again host monthly sessions. To offer new perspectives, additional guest speakers will be brought in to cover new topics like budgeting practices, renting versus owning your home, and understanding a mortgage.
“I think these sessions are valuable because as students we can get so caught up in school work that we often forget our spending habits will come back to haunt us in just a few years,” said 2L Allison Simmonds. “I think for me that is why the budgeting session was the most helpful. With my life being so hectic, it was nice to learn that a budget is something I can manage easily by simply downloading an app.”
This post written by Jessica Seavers.