Heritage Magazine: Helping Bearkats Build Strong Financial Futures

Helping Bearkats Build Strong Financial Futures

When it comes to financial advice, Student Money Management (SMM) at Sam Houston State University is here to help. During its founding year in 2007, the concept of college financial literacy programs was still new, so much so that SHSU was among the first of its kind.

What started off as basic financial education and awareness, like most financial literacy programs, it soon became a much-needed service as the center went from seeing two or three students a semester to thousands. By 2020, Student Money Management was well-known for its impact on the student body and the university, and America has seen that impact first-hand.

Growing up, Alvarado's mother always pushed her to pursue higher education so she knew wherever she wanted to go, her parents would make it happen. With her heart set on criminal justice, she looked for a university that shared her passion, leading her to SHSU. Aware of her family’s financial situation, when Alvarado and her mother visited campus for the first time, they made their way to Financial Aid & Scholarships and were referred to SMM.

“One of the program coordinators did a breakdown all the costs and we were able to see that visually,” Alvarado said. “We were also able to implement the calculated aid that I could potentially get. That's how I was first introduced to financial aid and financial literacy, and that’s the reason I'm here.”

Having the ability to understand and use financial skills, such as budgeting and how to save, affected Alvarado's academic and financial journey to becoming a Bearkat. Without it, she feels she wouldn't have understood what aid was available to her.

“The program coordinator taught me everything I needed to know with financial aid,” Alvarado said. “She gave me advice for Scholarships4Kats and recommended me to the Freshman Leadership Program. Then, I was offered a student worker position in SMM.”

Alvarado started as a student worker in 2020 and when her undergraduate journey ended in 2023, she began working full-time for the center. In her first official job, Alvarado grew in her professional career while learning how to improve her financial situation. Now as a program coordinator, Alvarado has the chance to help other students facing similar financial issues.

“At first, I was a person in need, like every student that comes here, and I was guided in the right direction and given a lot of insightful information,” Alvarado said. “Whenever we see a lot of students or I get students that are in the same situations as I was five years ago, it makes me happy knowing that I can help them the way someone helped me.”

Ace Thomas, a, was a first-generation student when he came to Sam Houston for his undergraduate degree. Like Alvarado, financial literacy became particularly important to Thomas, so he decided to pursue a business degree. SMM was still in its infancy, so Thomas didn’t know about the center, and found himself in a financial literacy class where he learned that, in general, people really don’t have a great understanding of how any of it works.

Since basic budgeting is a foundational financial literacy skill, according to Thomas, the top two points he and Alvarado go over with students are understanding the cost of living once they transition off campus and the cost of attendance at the university. By the time the students reach out to SMM, it’s almost always reactive – something bad happened and now they need help – but Thomas sees that as a great learning opportunity.

“Most students said talking to us helped them in some way, which is what we strive to do in every interaction,” Thomas said. “We really like that students see the benefits, and we also like to see that we are making a very visible fiscal impact on them.”

Another challenge that Alvarado and Thomas see are students with past due balances. Recently, SMM was able to implement a payment plan program through to help students pay down their past due payments, something Alvarado thinks sets SHSU apart from other institutions.

“Everybody has a financial problem at some point during their college journey,” Alvarado said. “To have the freedom to assist students is nice because we are helping them out now, but we also know that they’re going to be able to continue.”

The advice that SMM gives Bearkats is applicable inside and outside college. Thomas often tells students that even when it seems like all is lost, financial stability is always obtainable, it just takes time, work, planning and having an emergency fund. As for Alvarado, her biggest piece of advice is being intentional with your spending.

“You don't want your finances to control you, you want to control your finances,” Alvarado said. “Whether it's your school tuition, your employment or your allowance - whatever it is, have intent with it.”

For more inspiring stories about all things Sam Houston State University, read the Fall/Winter 2025 edition of Heritage Magazine here.