Debt Management EDvisor Overview
Debt Management EDvisor, sponsored by Nellie Mae, is a personal financial management tool developed exclusively for college students.
The objectives of EDvisor are to help students incorporate successful financial management practices in their everyday life and to make well-informed decisions about their borrowing.
EDvisor can provide students insight into establishing a budget, using credit cards to their advantage, understanding the psychology of over-spending, modifying spending habits, minimizing financial anxieties and struggles, and managing school loans.
3 Levels of EDvisor
- Beginner Tutorial
For first time users. This tutorial sequence will help students evaluate their budget, critique their credit card practices, and retain a personal record of their loan borrowing. It also includes an assortment of calculators, worksheets, tips, and guidelines. A confirmation is sent to the school and Nellie Mae.
- Advanced Tutorial
This tutorial is for subsequent users. These students have already established their financial analysis records and are ready to expand their money management level of expertise. A confirmation is sent to the school and Nellie Mae. This tutorial can be visited multiple times.
- No-Tutorial/Self-Guided Tour
This link is ideal for students who have previously completed a tutorial version of EDvisor. It provides an opportunity to make changes or add information to calculators and visit sections of interest in an unstructured order, without tutorial guidance. Students can use this option to ‘surf’ EDvisor. Activity is not reported to the school or Nellie Mae.
Student Registration Information
EDvisor first-time users must set up a new account that collects the students':
- Social Security Number
- Date of Birth
- First and Last Name
- email Address
- School State
- School Name
- Grade Level
Students will be required to create a User ID and Password to be able to access EDvisor. They will need to provide a Challenge Question and Answer to re-set security if they cannot remember their username or password.
EDvisor Customization Options
Schools have the ability to customize several sections of EDvisor.
Nellie Mae provides national data for cost of living, starting salaries, and cost of attendance as well as tips and articles in all of these fields. Financial aid officers have the option to customize several sections of EDvisor. If a section of EDvisor is not customized, your students will view national data.
School Logo—Add your school logo to the navigation bar of EDvisor.
Budget Worksheet—Provide local cost of living data and money-saving tips.
Minimize Spending—Submit an article or information of your choice, up to 500 words.
Earning Potential—Enter average starting salary data for up to 20 professions common to your school's fields of study.
Cost of Attendance—Enter cost of attendance data for up to 10 program offerings.
Suggested Links—Provide up to five useful web site links.
User Registration—Opt to receive a daily email summary activity report. School can choose to collect student id at registration.
Edvisor Processing
To complete each tutorial, the student must process through all of the steps. If the student tries to proceed through the Beginner or Advanced tutorials without doing the required exercise, error messages will display what is needed.
After successfully completing the Beginner or Advanced tutorials, the student is given a confirmation number and is informed that the confirmation will also be sent to their financial aid office, if the student attends a participating school.
Email Notifications to Schools
If the participating school has activated the optional email feature, EDvisor will send email notification to the school's designated recipient when there are new student records. This email is generated each week night. The email message refers financial aid officers to Nellie Mae's web site to retrieve student information. Nellie Mae does not send personal information via email messages. Financial aid officers must log in to our secure web site to view or download this information.
Schools do not have to wait for the email prompt; FAO users may log in to view information anytime.
- Next Page: Customize EDvisor
- Previous Page: Exit Counseling Report