For many college students, managing money can feel overwhelming. Between tuition bills, financial aid packages, student loans, credit cards, and everyday expenses, the financial decisions they make during their college years can have lasting consequences. At Southern, students have a unique resource to help them navigate those challenges: Lewis DeLuca, director of Student Financial Literacy and Advising.
Now entering his 12th year in the role, DeLuca oversees one of the first and most comprehensive financial literacy programs in Connecticut. His mission goes far beyond helping students pay for college. Instead, he works to equip students with the knowledge and habits they need to make informed financial decisions throughout their lives.
“Financial literacy is really about three things,” DeLuca said. “Budgeting, credit, and investing.”
Those three areas form the foundation of his work with students. Whether they are struggling to cover a tuition bill, trying to establish credit for the first time, or wondering how to begin investing for the future, DeLuca helps them understand their options and develop practical plans.
His office was the first of its kind in Connecticut, has been national recognized for excellence by LendEDU and CollegeCliffs.com, and remains unique in the scope of services it provides. Unlike a traditional financial aid office, which focuses primarily on processing aid applications and awarding funds, Student Financial Literacy and Advising takes a broader, more holistic approach.
“My goal is to create a financial plan for every student who needs one,” DeLuca explained.
Much of his work begins with what he calls “the gap” — the difference between a student’s educational costs and the financial aid they receive. For many students, especially those living on campus, that gap can be significant.
Rather than immediately recommending loans, DeLuca works with students and families to explore all available options. He reviews grants and scholarships, examines payment plans, discusses savings strategies, and only then considers borrowing when necessary.
“I want to talk about payment plans before I talk about loans,” he said. “Why should students borrow if they don’t have to?”
That philosophy has become even more important as the financial aid landscape continues to evolve. Recent federal changes have introduced new limits on borrowing through Parent PLUS loans, modified student loan eligibility for part-time students, and simplified repayment options.
While some families may find the new rules challenging, DeLuca sees potential benefits.
“Overall, it means less borrowing for students and parents,” he said. “And to me, that’s a good thing.”
Helping students understand the long-term consequences of debt is a major part of his work. Young adults often focus on the immediate need to pay for college rather than the future impact of loan repayment. DeLuca helps students connect those dots by showing them what repayment will look like after graduation.
At the same time, he emphasizes that financial literacy extends far beyond college financing.
Students who attend his “Be Wise with Money” presentations learn how to track spending, distinguish between needs and wants, build strong credit, and begin investing early. He encourages students to think about their financial futures long before graduation.
“Your FICO score is your financial GPA,” he often tells students.
Building good credit can affect a graduate’s ability to rent an apartment, finance a vehicle, qualify for a mortgage, or even secure certain jobs. Likewise, understanding basic investing concepts can help students begin building wealth decades before retirement.
DeLuca frequently helps students open Roth IRAs and high-yield savings accounts, guiding them through the process step by step. While many college students are not yet thinking about retirement, he believes planting those seeds early can make a significant difference.
His ultimate goal is to help students move from a scarcity mindset to one of abundance focused on long-term financial stability and opportunity.
“Maybe your family didn’t have generational wealth,” he said. “But if you understand budgeting, credit, and investing, you can build it.”
Students can access DeLuca’s services in several ways. Current and admitted students can schedule appointments through the university’s Navigate system, selecting topics such as paying for college, loan debt and repayment, credit, budgeting challenges, or general money management. Prospective students can reach out to DeLuca by email or phone. Meetings are available in person, virtually, or by phone.
In addition to one-on-one advising, DeLuca conducts classroom presentations, participates in orientation programs, publishes monthly financial wellness newsletters, and reaches out directly to newly admitted students and their families. He also works closely with faculty, staff, school counselors, and parents, often serving as a trusted resource for financial questions that extend beyond Southern.
What makes the program particularly valuable is its focus on long-term success. DeLuca continues supporting students through graduation and beyond, helping them understand repayment options, savings strategies, homeownership considerations, retirement planning, and other major financial decisions.
One graduating student captured that impact in a message to DeLuca, thanking him for helping her establish a Roth IRA and high-yield savings account while at Southern. She credited his guidance with providing a foundation for financial responsibility and future planning.
For DeLuca, those success stories represent the true purpose of financial literacy.
“It doesn’t matter what degree you earn,” he said. “You have to know how to manage your money.”
In a world where financial decisions increasingly shape personal and professional opportunities, Southern’s commitment to financial literacy gives students something that may prove just as valuable as a diploma: the confidence and knowledge to build a secure financial future.
To contact DeLuca for assistance, visit the Financial Literacy and Advising website.
Funding Graduate School
DeLuca notes that new federal borrowing limits on student loans took effect on July 1, 2026, under the One Big Beautiful Bill Act (OBBBA). He believes the changes could help reduce loan debt by encouraging students to explore other ways to pay for their education, such as grants, scholarships, savings, earnings, and payment plans.
Graduate PLUS and Federal Direct Loans: The Graduate PLUS loan is gone for new borrowers, but the $20,500/year federal unsubsidized Direct Loan still applies for FAFSA filers, an amount that is more than enough to cover the fall and spring bills for Southern grad students. When summer coursework is needed along with fall and spring classes, the $20,500 is normally insufficient to fully cover tuition and fee costs; then it’s either pay out of pocket, use our convenient monthly payment plan, or seek a private student loan to close that summer gap.
CHESLA: The Connecticut Higher Education Student Loan Authority (CHESLA) has created a graduate product loan, the MyCHESLA Grad Loan, to replace the Graduate PLUS loan. The MyCHESLA Grad Loan’s rates are lower, it doesn’t have fees, and it includes all graduate and professional degree programs.
Loan Proration for Grad Students: Loan proration means that part-time student loan eligibility will be determined based on enrollment percentage from full-time. In the past, a part-time grad student could overborrow using the $20,500 unsub loan to more than cover the tuition and fee bill with large refunds; going forward, the amount borrowed will be limited for part-time enrollment.
Repayment Options: Simplified loan repayment options are now a tiered standard plan for 10-25 years based on debt balance and a repayment assistance plan (RAP), which is income-based for 30 years before forgiveness.
