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Last updated on Tuesday, March 12, 2013
(BLOOMINGTON) - IU is now offering another way for students to measure and track their financial debt.
IDS reports that affordability.iu.edu is a new website launched last month that gives students a list of ways to save money on tuition.
"We wanted an easy place for students to find information," said Mark Land, IU director of communications. "It has links to other tools for students to use."
The website contains links to three different initiatives IU has launched in recent years.
The three programs the website links to are MoneySmarts, the Summer Tuition Discount and the Finish in Four initiative.
MoneySmarts will start next year for incoming freshmen.
"MoneySmarts is an online financial literacy course that will be required for all freshmen," said Valerie Peña, vice president of public affairs for IU. "And there will also be events throughout the year on how to manage student debt, how to borrow and how to get out not loaded with debt."
The Summer Tuition Discount, which was available to students starting in summer 2012, is an incentive to take summer classes, Land said.
"You can take any class on any campus and receive 25 percent off of the summer class," Peña said.
The 25 percent discount is available only to in-state residents wishing to take summer classes, but students from out of state can also receive an incentive, according to the website. Out-of-state residents receive an equivalent dollar reduction in tuition to those who live within Indiana.
The final program offered on the page is the Finish in Four initiative, which is a tuition freeze for students who are on track to graduate in four years at the end of their sophomore year.
"Finish in Four offsets the increases of tuition if students stay on track," Peña said. "They need to have 60 credits at the end of their second year and 90 at the end of their third year."
The hope for the website is that students will benefit from the tools and learn how to better manage their money, Land said.
"The website puts together all the tools that students and their parents can use to combat student debt," Peña said. "We had to go through and see the things we can do to keep tuition low."
The goal is to help incoming students as well as current students.
"Incoming students will benefit from learning money management, but so will anyone who decides to be an IU student all the way through," Land said.
The website was designed as an easy way for all students to have access to the tools they need to save money and put them all in one place.
"It's getting students aware, and showing there are a lot of ways to avoid tuition increases," Peña said.
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