Gregorio Alcantar in the university's Department of Financial Aid and Scholarships has set up a debt management program to help students better manage their student loans and create realistic budgets.

"The majority of students who get into trouble financially are really good people, but are just not aware of how to help themselves," said Alcantar. "What they need to know is that I can play a neutral role in helping them get squared away with their lenders and in their financial lives."

Many students, he said, do not understand the conditions of their student loans. "We can turn that into an educational piece," he said.

Alcantar has found that students often are unaware of the advantages of a student loan as opposed to using credit cards to pay for books and other college expenses. In a recent survey, Smith College reported that 52 percent of students nationwide are using credit cards for textbooks and supplies, and 23 percent use the cards to handle tuition and fees, paying interest rates much higher than what is charged for student loans.

"Students tend to lose control when they are unable to effectively manage their credit card use," said Alcantar, whose work is funded by a grant from EdFund. The organization provides student loan services under the Federal Family Education Loan Program.

Among other services, Alcantar helps students create college expense profiles, factoring in their housing and educational costs and arriving at the "sometimes shocking" reality of their expenditures when calculated over a nine-month span.

In spring 2006, he will introduce money management workshops on topics such as student loan consolidation and repayment options.