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Services provided by the Office of Student Financial Success

Author: Isaac Ehlers | Image: Isaac Ehlers

The Office of Student Financial Success provides services to improve the overall financial health and debt of students at Iowa State. Financial Success offers one-on-one advising to make managing your money easier. Here are some topics to help you learn about and maintain your finances.



You may have some money in your bank account allowing you to go out to eat with friends or go shopping, but it’s important to keep track of your money to avoid over-spending. Saving for a rainy day and having funds set aside for an emergency situation can keep you from having to take on additional debt. If you’re not sure where to start, the 50/30/20 Budgeting Rule is a great guide. This means when you receive your income, 50% is spent on essentials and needs, 30% on wants, and 20% on savings. Needs could include gas, groceries, rent, etc. Wants would be your eating out, coffee dates, or vacations. Savings will help provide a cushion to your bank account in those emergency situations, so you don’t have to be as stressed by unexpected circumstances.


Student Loans

Do you need help with your loans? An advisor can talk with you about what loans you are eligible to take out, or if you already have taken loans out, they can help you create a plan to repay those loans. Borrowing responsibly is important to set yourself up for success, so finding a balance between taking out loans and using other financial aid and savings is important.


Managing Credit

You credit score is a combination of five categories:

Payment History (35%): Are you paying your bills on time?

Amounts Owed (30%): How much do you owe? If you have too much debt, it may be difficult for you to make payments on any additional debt, so lenders may decide not to lend to you.

Length of History (15%): Lenders look into how long accounts have been established, the age of your oldest and newest account, and how long it has been since you used certain accounts.

New Credit (10%): New credit considers the number of new accounts you have and how many times you have recently asked for credit. Having a large amount of new credit could indicate that you suddenly need to borrow more, and that could be a risk to a lender.

Types of Credit (10%): Having different types of credit, such as a student loan and a credit card could positively impact your score because it shows the creditors that you are able to handle multiple types of credit.



It may be tempting to go on vacation or go out to your favorite restaurant but if you save that money now, it will benefit you in the future. You can save through many ways, such as budgeting, cutting out unnecessary spending, shopping around for better deals, and working a part-time job.


All of these topics are important to be financially successful. If you have any questions or concerns about your financial situation, the Office of Student Financial Success is here to help! Student can schedule an appointment through Navigate Student or call the office at 515-294-2223.


By Maycee W., Financial Aid Communications Student Assistant