KENNEWICK, Wash. --Many college students struggle with their finances but some new free software is designed to help them out.
According to the US Department of Education, nearly a quarter of college students rely on credit cards to pay their college tuition. And on average, they will be over $19,000 in debt by the time they graduate.
So the Northwest Insurance Council is offering free software called My Financial House.
NW Insurance Council Communications Director Darrin Sanger says that college students will especially benefit from the program.
He says most students want to understand their finances better but have a lot of other things on their plate.
Sanger says, "They're having to juggle jobs, difficult class schedules, and certainly having to pay for life on its own. So certainly trying to manage your debt is an important factor in securing a strong financial future."
The software allows people to create an inventory of their financial situation and to develop plans to reduce debt. They can also track their progress as they move toward the ultimate goal of becoming debt free.