Kansas State University

Jackson Harvey

What is Financial Futures?

Stacey Lhuillier

K-State has a well-being initiative that they integrated into all the programs on campus to serve students, and one of the disconnects that they had was in financial well-being. Up to that point, we had our Powercat Financial as a fantastic peer led resource that would assist students to gain insightful information. Financial Futures was an attempt to try to take that into the classroom as more than just a presentation and become more a part of the curriculum that could be integrated into each of the colleges. So, because we were hoping for an all-university financial initiative, we created Financial Futures. That way, we would have an opportunity to have Powercat Financial as a way for students to gain insight about information that they learned through the curriculum that was a part of their classes. It’s a two-part team system that we’ve been able to integrate this all-university financial initiative and we hope to continue to grow to be a part of all colleges and campuses that are here at K-State.

Jackson Harvey

That’s amazing. I know that was something that I wish that I learned more of in high school was to be able to be apart and learn more about those financial skills going forward. I think that’s amazing that we’re going to go and take that initiative into the classroom.

Another important aspect is financial well-being. Why do you think financial well-being is important?

Stacey Lhuillier

For many students, not having that knowledge often creates issues. Our rationale for why we felt like we needed to work towards financial literacy was the stress that oftentimes a lack of well-being can create. That stress in the collegiate environment creates a distraction. Sometimes, students feel stressed about trying to navigate a budget that maybe they don’t have, trying to navigate managing their money, and deterring students in the classroom or in their relationships that they have. That deterrence can create situations where students aren’t able to be retained in the academic setting. They may get discouraged. That was really our initial rationale for why it was so vitally important to create Financial Futures.

Another goal that we have is to try to find ways to normalize financial literacy and demystify it, and make it appear less intimidating so that others feel more receptive to ask those questions. Many times, our decisions can be devastating to our financial future because we make bad financial decisions that affect us for years. As simple as making late payments, or defaulting on loans, or possibly bankruptcy. Therefore, we hope to provide a space to guide students along the right path, to help them have an opportunity to make sure that they have a solid foundation and accomplish that financial stability that they desire.

Jackson Harvey

In the light of the importance of that knowledge, in what ways do you think that Financial Futures will help assist students with financial being in upcoming years?

Stacey Lhuillier

When we first started the Financial Futures initiative, it was very important for us to figure out ways to integrate it into the classroom. We found that by helping students with financial literacy their very 1st year they would build upon that base we set throughout their years here at K-State and beyond.

Financial Futures also hopes to highlight the more unique needs between programs and help provide more scrutinized and individual experiences for each student and their background. We hope to go into the classroom and create that relevance, create that excitement, normalize, and demystify financial literacy so that they feel more confident asking those questions with Powercat Financial who are readily available to begin the process of working with them. I always encourage students to regularly sit down with a peer financial counselor to have those conversations to reach those financial goals while they are reaching those academic goals.

Jackson Harvey

Speaking of goals, what are Financial Futures’ goals as they look towards the future?

Stacey Lhuillier

I think one of the important goals in our future is to continually revisit conservations with different colleges on campus each semester to be instrumental in helping them to accomplish their goals.

For example, here in the College of Business we have some methods to try and reach our entry level students. We have a general business class that is a freshman level course where we go in and introduce some of those topics. Then we go to into one of the sophomore classes, a career accelerator class, and we devise the topics that are relevant to the financial aspects of student’s lives, but are career focused, like negotiating salaries and evaluating job offers. This allows students to be exposed to that from the beginning and build upon that knowledge and skillset as they progress through the program. Being able to have a buffet of resources is our optimal goal along with having a financial literacy program accessible for students in every college to meet their needs based on what is necessary for their students. We also plan to expand on these goals to encompass postgraduates and alumni students in the future.

Jackson Harvey

You mentioned a little bit about the Powercat Financial program. How do you see Financial Futures and Powercat Financial working together within the bigger initiative with the goal of financial wellness?

Stacey Lhuillier

Oftentimes in the classroom a presentation will be done by a faculty consultant, as part of Financial Futures to help develop that content. We found a way to divide and conquer, yet at the same time, we reinforce each other. When we go into the classroom, we’re introducing these concepts, getting them excited, helping them to feel comfortable and confident about those topics, but pointing them towards Powercat Financial to have a more individualized experience. At the same time, Powercat Financial goes into these spaces such as sororities, fraternities, clubs, organizations, first year seminar classes, and they help students get excited about what’s happening there. With that excitement Powercat encourages students to go back to their colleges and advocate for financial literacy in their program! We’re really complementing each other and trying to be the full package so that that way the students are getting the exposure they need and they’re getting the resources to reinforce financial literacy.

Jackson Harvey

In summary, what would you want our readers to take away from our conversation today?

Stacey Lhuillier

In order to create a campus wide financial literacy initiative, it is going to take all of us. It truly is. If we all work together, an attempt to try to obtain the knowledge that can guide us to be able to make good solid financial decisions. It can give us the ability to have financial stability and financial success.

Learn more about K-State’s Financial Futures initiative at www.k-state.edu/financial-futures.

Jackson Harvey

Peer Financial Counselor II

Powercat Financial

www.k-state.edu/powercatfinancial

Many people have heard about some changes coming to student loans specifically the repayment side of student loans. The major change for students entering repayment is that a new repayment plan has been added. This is the SAVE plan which stands for “Saving on a Valuable Education” Plan. The hope for this plan is to make it easier for people who have taken out loans to pay off said loans. The way that this plan is different from the original repayment plan is that it is supposed to make monthly payments more manageable for individuals and families.

The SAVE plan is in the form of an Income-Driven Repayment plan which essentially means that your monthly payment is determined as a percentage of your income. The SAVE plan will take the place of the REPAYE plan which stood for the “Revised Pay as You Earn” plan. With the new SAVE plan, monthly payments are based on income and family size. This will make it so your monthly payment changes if you have more members of your family. Through this action, people with families should have an easier time making student loan payments every month. The SAVE plan is a good option for lots of people but make sure that you check to see if the SAVE plan is right for you.

Not all loans are eligible for the SAVE plan so make sure to check and see if yours are eligible. The loans that are eligible include:

• Direct Subsidized Loans.
• Direct Unsubsidized Loans.
• Direct PLUS Loans made to graduates or professional students.
• Direct Consolidation Loans that did not repay any PLUS loans made to parents.

The SAVE plan began being rolled out this month to individuals already in repayment. Some other updates to the Income-Driven Repayment plan loan forgiveness guidelines also changed. The main change is the length of time that it takes for loans to be forgiven. Loan forgiveness used to take anywhere from 20-25 years, with the updates loan forgiveness can take as little as 10 years depending on your total loan amount. The terms of loan forgiveness are described as if a borrower has $12,000 in loans or less then their forgiveness timeline will be 10 years. Every additional $1,000 that borrowers add to total loans taken out a year gets added to their forgiveness timeline with a maximum of 20 years for undergraduate loans. For example, if an individual takes out $20,000 in loans their forgiveness timeline will be 18 years. The maximum forgiveness for graduate students will be 25 years as these balances tend to be higher.

Another change that is coming later this year with the SAVE plan is that monthly payments for borrowers will be cut in half. This change will take effect in July of this year and will generate monthly payments based on 5% of the borrowers’ discretionary income as opposed to 10% with the current plan. Along with this, those borrowers with a mix of graduate and undergraduate loans will have a rate between 5-10% weighted based on the total of each classification of loan.

The main question an individual may ask is what happens to the extra interest that is not paid with the decreased monthly payment? For example, if an individual has a monthly payment of $60 and their total interest accumulated for the month is $100 there would still be $40 left in interest to be covered. With other IDR plans, this $40 would have been added to their loan balance but with the SAVE plan, this extra interest is actually forgiven by the government. Although this means that your loan balance will not decrease it also means that it will not increase.

The most complicated part of the SAVE plan is the portion on determining the monthly payment. For this example, we will say we are a recent graduate with the average salary coming out of K-State which is $53,500 as of a release in January of 2023.  The equation to determine your monthly payment is equal to:

1. Calculate your Protected Income: First, you will go through and calculate your poverty level in regard to your family size. For 2024 a single person’s poverty level measures in at $15,060. For most other income-driven repayment plans you would multiply this number by 1.5 or 150% but for the SAVE plan, you multiply this by 2.25 or 225%. This would mean your Protected Income would be equal to $33,885.
2. Calculate Annual Discretionary Income: The next step would be to go through and calculate your Discretionary Income which is your Adjusted Gross Income minus your Protected Income. Meaning you will subtract $33,885 from $53,500 which is equal to $19,615.
3. Calculate Estimated Monthly Payment: The final step will be to calculate your monthly payment. To do this you will take the discretionary income of $19,615 and multiply it by 10% then divide it by 12 to calculate for each month. The percentage will change in July so in this example we will look to see what the monthly payment will look like at 5% as well. For the 10% example, the monthly payment would equal out to about $163.46. For the 5% example which will be more applicable for upcoming graduates, the monthly payment will be equal to about $81.73.

Students looking to calculate their monthly payments can also use Loan Simulator located on the Student Aid Website. If you have any questions about loans and repayment, make sure to make an appointment with us at Powercat Financial.

Keaton Verdict

Peer Financial Counselor I

Powercat Financial

www/k-state.edu/powercatfinancial

Maintaining a healthy relationship with your partner(s) can be tough – finances add an increased level of complexity. There is no set formula for how you should combine your finances with your partner(s). However, the structure below can help guide conversation with you and your partner(s).

Gather Financial Details
Before you can decide how to combine your finances with your partners’, you’ll each need to know where your finances stand. If you’ve linked your accounts on a personal finance app, like Mint, then you can start by checking there. But if not, you’ll need to check with each individual institution where you have an account to see where it stands. Some places to check include:

• Checking and savings accounts (likely your bank or potentially other online financial institutions)
• Retirement accounts
• Student loan accounts
• Other debts, including credit cards, personal loans, car loans, etc.
• Total yearly income (this could include pay from your regular job, as well as any side jobs you have)

Establish Shared Priorities

Settle on a time to talk

It’s important to take the task of combining your finances with someone else seriously, so find some time that works best for you and your partner. Try to allow for at least an hour of uninterrupted time — you may need more, and it’s okay to follow up at a later point. During this time, merge your values and desires with your partner(s) to create a list of joint priorities. Try to avoid conducting this conversation during a particularly stressful time, like right after you both get home from a 10-hour workday.

Keep an open mind

Once you sit down to talk, remember to keep an open mind. Use combining your finances as a time to talk about future goals — both financial and work- and life-related — as well as to discuss overarching views on money. This will help you determine the best method to combine your finances in a way that works for both of you.

Decide a Strategy

As mentioned earlier, there is no one way to combine finances with a partner – different couples must try different methods to find what works best for them. Some common ways that people tend to combine their finances that you might want to consider include:

Combine everything and split evenly

Arguably the easiest way to divide and conquer finances as a couple is to throw everything — both your debts and income — into one bucket and just split everything down the middle.

For couples who make about the same amount of money and who have relatively the same amount of debts, this could make a lot of sense, and it’s definitely easier to track.

Combine only certain things

Some couples opt to combine only specific parts of their finances while keeping other things separate.

For example, for student loans that take a large chunk of your monthly income, you and your partner may opt to continue having you pay off that debt on your own, while you combine other joint expenses, like housing, food, entertainment, and transportation needs.

Live off of one paycheck

If it’s possible, some couples opt to have one person pay off the joint monthly expenses while the other puts the entirety of their income towards mutual goals, like savings or paying off debts, etc.

This is a good method if one person makes much more money than the other, or if one person has an income that is less reliable. It’s also a good way to ensure you are always tending to your savings needs.

Combine nothing

It’s entirely possible that after going over your finances, it makes the most sense to keep everything separate, and that’s okay. Especially if you’re worried about what the future might hold, you may want to keep your finances separate to avoid any potential financial problems down the road, at least for the time being.

You of course don’t need to cover everything in one sitting — if there are many considerations, you could set a goal to discuss one financial area, like debts or goals, at a time.

Take Action

• Decide which accounts you’ll be combining
• Create a debt repayment plan
• Establish a budget
• Start an emergency fund
• Save for Retirement
• Discuss long-term savings
• Consider buying life insurance

Check in Periodically

As with most things regarding finances, just because you’ve settled on one method of combining your finances doesn’t mean that same method will work for you down the road. It’s a good idea to set monthly check-ins, especially during the first few months of your setup, to see how you both are doing and to make any necessary adjustments.

Upcoming Event: Love & Money

Are you beginning to think about what it looks like to combine your finances with your partner? There are several things to consider: goals, debt, financial accounts, attitudes, and expectations. Attend our Love and Money workshop TODAY to learn about these topics and learn some strategies that will help you merge your money and financial lives together.

Megan McCoy, assistant professor of personal financial planning, and myself will provide helpful resources and tools. Attendees must RSVP. Faculty, staff, and student couples are welcome. Free refreshments and date night prizes drawings for attendees.

RJ Salmen

Peer Counselor III

Powercat Financial

www.k-state.edu/PowercatFinancial

What has changed about the FAFSA?

The FAFSA Simplification that has come out is effective starting with the 2024-2025 school year. The K-State Priority date to fill out the FAFSA for this time frame is now March 1, 2024. There are quite a few new changes and modifications that the new FAFSA has come out with:

• Instead of looking at the student’s Estimated Family Contribution (EFC), there is now a measure called the Student Aid Index (SAI) that will be used to determine a student’s aid eligibility instead. This new measure will allow K-State to identify students more accurately with their level of need.
• The FAFSA Simplification is intended to expand Pell Grant access for many students. There is data that shows a significant number of K-State students will become Pell Grant eligible for the first time starting in the 2024-2025 school year.
• In regards to primary or custodial parent, for dependent students whose parents are separated, the primary parent will be the parents who provides the greater portion of the student’s financial support and the one who is required to provide their information on the FAFSA form.
• The listing of net worth of a business will not be limited by the number of employees anymore, one will report all businesses no matter the size on the FAFSA form.
• Similarly, the listing of net worth of a farm will now include the net worth of family farms. The family’s primary residence will still be excluded, but other factors such as fair market value of land, buildings, livestock, unharvested crops, and machinery minus the debt held against these assets can be included.
• For more information visit our Office of Student Financial Assistance page.

Why should you fill out the FAFSA?

• Shows your college your ability to pay your tuition bills

As stated above, when a family completes the FAFSA, the resulting calculation is the Student Aid Index or SAI.  With the SAI visible, colleges can better see if a family can pay for their college.  The SAI may help some students in the admission process.

Many people may not realize that a college is a business and that colleges need various types of students to enroll in their targeted freshman classes.  One of the factors in the admission and financial aid packaging decision is the amount of revenue each student can pay.  The SAI is just an estimator of your family’s ability to pay.  It does not mean a family can pay or will pay that amount.

• Become eligible for direct federal loans

By completing the FAFSA, no matter a family’s financial strength, the student will qualify for a Direct Federal Student Loan.  The completed FAFSA requires the student or parent to be eligible for federal funds or loans.

Even if a high-income family does not qualify for the Direct Federal Subsidized Loans, submitting a FAFSA will make the student eligible for a Direct Unsubsidized Federal Loan.

• Repayment and forgiveness options

Creating the proper debt structure is vital since the loan type determines student loan repayment and forgiveness options.

Federal loans offer the most flexible repayment options.  As stated above, completing the FAFSA allows the student to qualify for federal loans from the beginning.

• Establishing credit

Making an investment in your future can be chalked up as a good debt to have. Establishing credit is an important thing as a young adult and having manageable debt is a way to do that. Repaying student loans allows young adults to establish their own credit and credit scores.

Upcoming Events:

Love and Money – February 12th, 4:00-5:00pm at the Union in the Big 12 Room. Come join us and bring your significant other to partake in a workshop where you can learn how to merge your finances together. Our event features Peer Financial Counselor, RJ Salmen, and Personal Financial Planning Assistant Professor, Dr. Megan McCoy!

Halle Schindler

Graduate Assistant

Powercat Financial

www.k-state.edu/powercatfinancial

This article highlights the value of studying abroad at Kansas State University. Earlier this month I met with the Director of Education Abroad and Office of International Programs, Mrs. Katelin Christianer-Donkers, to talk about the value that K-State students get from studying abroad. I asked Mrs. Christianer-Donkers several relevant questions, which she answered thoughtfully and thoroughly. The interview was truly insightful and helped me gain a great understanding of the study abroad programs offered here at K-State and now I can share with you! Throughout this article, I will be answering the eight questions I asked Mrs.Christianer-Donkers with her answers and the information I gained during the interview. In the article, I will present a question, and then an answer of why I asked that question alongside Mrs. Chritianer-Donker’s answer. This blog intends to educate and inspire K-State students about the value of studying abroad. I hope this article will give anyone who has an interest in the study abroad program the push they need to get started today.

1. How does studying abroad align with the academic goals and mission of the University?
The reason I asked my first question was to highlight ways in which studying abroad aligns with K-State. Mrs.Christianer-Donkers mentioned the recent announcement of the Next-Gen K-State Strategic and some specific ways it aligns with study abroad. She stated three imperatives, each of which she selected specifically because they aligned with her programs. Below, I cited Mrs. Christianer-Donker’s response to my question.

“The recent announcement of the Next-Gen K-State Strategic Plan shows distinct ways that Education Abroad is aligned with the University. The mission of Kansas State University is to foster excellent teaching, research, and service that develop a highly skilled and educated citizenry necessary to advancing the well-being of Kansas, the nation, and the international community. The University embraces diversity, encourages engagement, is committed to the discovery of knowledge, the education of undergraduate and graduate students, and the improvement in the quality of life and standard of living of those we serve.”

Imperative 2 is related to retention and graduation rates. Education Abroad participation is proven to positively affect these outcomes.

Imperative 3 is related to high-impact applied learning experience. Education Abroad has been singled out as one of the many opportunities available to students.

Imperative 5 is related to meeting the needs of learners, employers, and society which I believe has a global component, creating global citizens.” (K.C. Katelin. Personal Communication. October 5th, 2023)

2. What are the key advantages of studying abroad for students in terms of personal and academic growth?
The reason I asked this question is because I wanted to highlight the advantages a student can gain from studying abroad. For this question, Mrs. Christianer-Donkers focused on transferable skills students get from studying abroad. She mentioned that there are several value-adds a student gets from studying abroad. She also mentioned that studying abroad creates a more well-rounded and better-performing college student. After listening to what Mrs. Christianer-Donkers had to say, I couldn’t disagree with her response. The cause and effect of studying abroad seems very evident in students’ lives.

“When a student studies abroad, even for a short-term program, they gain several transferable, real-world skills. Students gain independence, adaptability, resilience, communication, flexibility, problem-solving, confidence, language acquisition, creativity, cultural awareness, and more. These skills will benefit students throughout their lives both personally, academically, and professionally. Anecdotal, I have heard many students say that education abroad reinvigorates their desire to learn and helps them complete their degree. The data backs this sentiment up by showing that participation in an education abroad program positively impacts retention and graduation rates in higher education.” (K.C. Katelin. Personal Communication. October 5th, 2023)

3. Are there specific programs or initiatives aimed at making study abroad more accessible to a diverse range of students?
The reason I asked this question is because I wanted to show that studying abroad could be a great way to diversify one’s experience in their respective programs. For this question, Mrs. Christianer-Donkers talked about two different initiatives for study abroad. The first was the creation of The First- Generation International Experience. This program is specifically for first-generation students here at K-State and is still in its early stages. The second initiative Mrs. Christianer-Donkers mentioned is the Benjamin A Gilman Scholarship for students who are eligible for Pell Grants. The scholarship is listed as a national one but is one K-State Education Abroad that takes great pride in helping students achieve. There are many sessions and workshops offered through the K-State study abroad to help students achieve this scholarship on their merit.

“Along with others, I want to touch on two specific initiatives that our office is working on. First, our Assistant Director, Brent Holliday, has been working closely with the First-generation Student Center to create the First-generation International Experience faculty-led program. The First-Generation International Experience is a collaboration between several KSU student services and academic units invested in the success of first-generation students at K-State. The project aims to provide financial support, pre-departure preparation, and academic relevance for KSU first-generation students who aspire to gain international experience while at K-State.  Student-Centered Tuition Enhancement funds were used to support this program.” (K.C. Katelin. Personal Communication. October 5th, 2023)

“Another initiative is our work with the Benjamin A Gilman scholarship for students who receive the Federal Pell Grant. Sarah Hassle, Education Abroad Advisor, and Beth Powers, Director of Scholar Development and Undergraduate Research have worked together to develop a multi-step preparation process for students who are applying for this scholarship. The national scholarship application requires three essays and K-state offers multiple information sessions and writing workshops that can help students complete the application and receive feedback on their essays from knowledgeable staff at KSU.” (K.C. Katelin. Personal Communication. October 5th, 2023)

4. What resources and support does your office provide to help students choose the right study abroad program and navigate the application process?
The reason I asked this question is because I wanted to show that there is a great deal of support provided to K-State students. In answering this question, Mrs. Christianer-Donkers mentioned several different areas of support K-State offers. The University offers support through the faculty and staff, specifically Education Abroad Advisors which every student has access to. With the collaboration and help of the University’s employees, the K-state study abroad program thrives and strives to help students achieve their study abroad goals.

“Education Abroad advising structure is based on division by colleges, not location, which allows Education Abroad Advisors to form relationships with the Staff and Faculty in each college. Education Abroad Advisors therefore work closely with colleges related to curriculum equivalencies, understanding which programs are academically beneficial to students in that specific degree. Students can meet with their Education Abroad Advisor as many times as necessary and email them for assistance throughout the process from first interest to returning to campus to credit transfer after a program ends. Our website allows students to review the process in more detail. Students can search programs based on their priorities, whether classes are available for their major, location, extracurricular activities, traveling with other students, level of support abroad, and more. Their Education Abroad Advisor is there to help navigate the systems in place, knowing that each college and even some departments within a college work differently. The K-State Education Abroad Application provides information related to health and safety, course enrollment, funding, eligibility requirements, pre-departure considerations, identity abroad, and more.” (K.C. Katelin. Personal Communication. October 5th, 2023)

5. Do study-abroad countries have strong industries that apply to K-state majors?
In this question, I wanted to show the value that studying abroad could bring to the student’s professional career and chosen major. To showcase this Mrs. Christianer-Donkers provided specific examples of programs at the University College of Dublin, Ireland.  The program in Ireland specifically is for Animal Science majors here at K-State and is a direct exchange between our University and Dublin.

“I think the better way to approach this question is to show a few examples of where the study abroad programs are directly tying the industry or academic content to something available in the location. University College Dublin is great for Animal Science majors, but anyone from the College of Agriculture can attend.

Another example of this direct tie to industry is faculty-led programs, which are KSU classes taught by KSU faculty in locations abroad.  The faculty typically chooses their location specifically for the academic content.  Faculty-led programs make up the largest portion of participation in education abroad at KSU currently, representing around 70% of the student experiences during the AY 22/23” (K.C. Katelin. Personal Communication. October 5th, 2023)

6. How does studying abroad enhance a student’s resume and job prospects, and do employers value this experience?
In this question, I wanted to highlight the benefits an employer sees from studying abroad. Mrs. Christianer-Donkers used research and facts to back her answer. She mentioned the skills that students attain from studying abroad are quite a value add for employers, but they won’t mean much if the student doesn’t understand how to utilize them. She then talked about students who can use their study abroad experience to their advantage. She mentioned that students who can communicate the impact and skills they gained from their study abroad experiences, would be able to show that extra value to employers, especially global employers.

“Research shows that applied learning activities, like Education Abroad, result in skill acquisition that is valuable to employers after graduation. Studying abroad does not automatically increase your chances of job placement, but how you include your experience abroad in your application materials and interview can have an impact. Students need to be able to speak professionally and thoughtfully about the skills they learned during their time abroad, showing the skills as transferable to the workplace. If a student can discuss the professional development of their time abroad, this high-impact experience becomes valuable to employers. This is especially true for companies that engage in global activities or business.” (K.C. Katelin. Personal Communication. October 5th, 2023)

7. Is the cost worth the experience, and is there financial aid to cover the gap?
In this question, I was straightforward and asked if the cost was worth the experience. Her response was simple; “Yes.” Mrs. Christian-Donkers mentions that studying abroad is something students feel strongly about when it comes to adding value to their education. She also mentioned that part of her office’s job is to help students find a way to achieve this and still graduate on time. During our conversation, she also mentioned that there are tons of scholarships to help students afford to study abroad, some of which are already underutilized.

“Anecdotally, yes, the cost is well worth the experience, the memories, the skills, and the relationships gained through education abroad. We regularly hear from graduates that one of their biggest regrets from their time at KSU was not studying abroad during college. Regardless of the length or location of your program, education abroad is a hugely impactful experience that students cherish and utilize in their life post-college, even if it’s not obvious. For students who are concerned about the funding aspect, we have resources on our website to assist with planning, budget building, and information about financial and scholarship opportunities.” (K.C. Katelin. Personal Communication. October 5th, 2023)

8. Will I still be able to graduate on time and study abroad?
My last and perhaps most important question was if students can still graduate on time and receive the experience of studying abroad. The reason I saved this one for last is because of its importance. As we all know college is expensive and is already a financial strain for many students. Mrs. Christianer-Donkers mentioned that this question varies for everyone, but it could just depend on how much you want it. What I mean by that is the earlier one plans, looks for scholarships, and schedules the better the chance the student can have the experience without adding extra school time. Lastly, she mentioned that her office is always ready to help students in any way they can.

“Yes, the Education Abroad Advisors work with students to understand the available course work abroad and assist students in navigating the Academic Approval Form that allows students to pre-approve classes with their KSU Academic Advisor before they ever commit to the program opportunity.” (K.C. Katelin. Personal Communication. October 5th, 2023)

In conclusion, with the collaboration of Mrs. Christainer-Donkers and I, we show Kansas State University students the value of studying abroad by answering eight questions: How does studying abroad align with the academic goals and mission of the University?  What are the key advantages of studying abroad for students in terms of personal and academic growth?  Are there specific programs or initiatives aimed at making study abroad more accessible to a diverse range of students?  What resources and support do The Education Abroad and Office of International Programs provide to help students choose the right study abroad program and navigate the application process?  Do study-abroad countries have strong industries that apply to K-state majors? How does studying abroad enhance a student’s resume and job prospects?  Do employers value this experience/ Is the cost worth the experience? Is there financial aid to cover the gap, and will I still be able to graduate on time and study abroad? I hope this blog has informed you, the students of KSU, and has encouraged anyone who is thinking of studying abroad.

Jonathan Oury
Peer Financial Counselor I
Powercat Financial
www.k-state.edu/powercatfinancial

Traveling home is an experience that one always looks forward to. Counting down the days till they can be back with friends, family and momentarily break from the stress that accompanies school life. There are many costs associated with traveling home and also ways to save money in the process. To explore this further I interviewed Jon Oury, a student at Kansas State University about his experiences traveling home.

[Chipo]

Where is home for you and how long does that journey take?

[Jon]

Home for me is Milwaukee, Wisconsin. If I’m driving it takes about 9 hrs. and then the flights vary depending on how many planes, I take but I’d say about 4 hrs.

[Chipo]

And what determines whether you fly or drive?

[Jon]

Well, I normally drive to school at the beginning of the semester. I drive back for the summer, spring break and Christmas break then fly back for Thanksgiving break.

[Chipo]

 So, what would you say are the main costs that you incur like when you’re driving back home?

[Jon]

Gas for sure. If I’m driving, gas is very expensive. I try my best to spend as little money as I can on gas. The amount I end up spending really comes down to how fast I’m going. So, if I’m driving at relatively slow speed it takes me two and a half tanks of gas to get home and if I’m going a little faster, I’m taking three full tanks. Driving faster normally means I’m skimming an hour off my trip, so once I factor in the time I’ve left and what time I’d like to be home I have a rough idea of how much I’m going to be spending on gas.

I’m always on the look for Advantage Pricing opportunities to get me cheap gas.

[Chipo]

Tell me more about that?

[Jon]

Well one thing that I observed is that on one level gas prices differ from state to state and then on a deeper level they vary from city to city. So, Manhattan gas will be more expensive than gas you would find on the outskirts of Manhattan. So, considering that (within reason) while planning your trip can really save you money. What looks like a few cents difference probably adds up to about seven or eight bucks by the end of your trip.

[Chipo]

Are there any other costs you usually incur other than gas?

[Jon]

Yes, I’d say there are two other things I usually spend on. The first is snacks.  Candy and or beef jerky and maybe an energy drink depending on how I’m feeling. Snacks just keep me energized and focused throughout the long trip. I think another cost that people often don’t factor in is maintenance. I feel like most people don’t factor that in but for me it is a big deal because the fact is I’m putting thousands of miles on my car and that depreciates the car’s value but also means my car is in the shop more often.

[Chipo]

So, in the instances when travel home by air, what are your main costs? 

[Jon]

Well, the first thing that comes to mind is of course the air ticket. But after that I would say my biggest cost is parking. I never park at the airport because there are other options that can save you money. I park at a commercial parking garage right next to the Kansas City Airport – it’s called the parking spot. It’s right next to the airport and there’s a shuttle that will take you from the parking spot to the Airport. The nice thing about it is the consistent pricing. Oftentimes the pricing at the Kansas City Airport varies depending on the demand but I don’t have that issue at the parking spot.

I haven’t found a similar arrangement in Manhattan or Salina and that is one of the many reasons I try not to fly out of those airports. In the unlikely event that I have to fly out of the Manhattan and Salina airports I leave my car at my apartment and have a friend give me a ride.

One thing I wish we had was a school shuttle that would take students from school to the MHK airport. Maybe have it run for a certain number of hours in the few days after the last day of school when everybody is trying to get out of Manhattan.

[Chipo]

So, what’s the cost difference when you’re traveling during peak and non-peak seasons? 

[Jon]

I’d say it’s a lot cheaper during off peak seasons. And during the holidays, it’s almost criminal how much they can charge you.

Normally, I would never consider a plane ticket over $700 but during peak season like Christmas time anything below $ 1, 000 for a flight is a good deal which is ridiculous. So, to deal with that I find myself taking a lot of connecting flights because you pay a lot for direct. At times it gets to the point where my plane travel takes just as long as it would if I was driving but I think it’s worth it because I get to save money.

[Chipo]

How do you deal with emergencies during travel?

[Jon]

It depends on the size of the emergency. I do have a bit of money in my savings that I could direct to smaller emergencies if they arise but with bigger things, like if the car breaks down, I get support from my parents.

[Chipo]

Any last-minute tips to save money that come to mind before we finish here?

[Jon]

Definitely carpooling. I think that would help save a lot of money and of course take turns driving home because the mileage can rack up if you keep using the same person’s car.

[Chipo]

Alright thanks for your time, Jon, enjoy the rest of your day.

[Jon]

You too

Chipo Sekabanja

Peer Financial Counselor l

Powercat Financial

www.k-state.edu/powercatfinancial