About SALT

What is SALT?

The University of Maine has partnered with American Student Assistance (ASA) to provide a FREE  financial literacy and debt management program called SALT. SALT is a multi-channel educational membership program that empowers students to take control of their debt and finances on a practical day-to-day level.  With a combination of helpful tools, tailored information, and unbiased expertise, SALT helps young people borrow less, borrow smarter, and repay their loans in a way that works for them.

Why SALT?

SALT’s a simple way to take control of your finances, helping you live well today while
planning for tomorrow—and we offer it to all our students for FREE.

UMaine chose SALT for many reasons.  SALT knows how to talk to students.  In fact, much of the content and resources provided were actually created by students!  That user insight, plus ASA’s 50+ years managing student debt, sets SALT up for success.  And their integrative approach to financial education, debt management, and member benefits drives positive student behavior.

How does SALT work?

SALT uses many different channels to educate, empower, and engage members.  The SALT program includes:

  • Proactive communication about student loan repayment options.
  • One-on-one repayment counseling with student loan experts.
  • A personalized online dashboard to track all their federal student loans in one place and compare repayment options.
  • A highly interactive financial education curriculum (MyMoney 101) and other educational content, including the SALT Blog: “Money Savvy for College and Beyond.”
  • Multiple self-serve online tools and calculators to assist with budgeting.
  • Advocacy and assistance with resolving complex student loan related problems.
  • Meaningful benefits and incentives that can lower the total cost of college attendance such as scholarship services, and job/internship searches.

How do students sign up?

Follow these easy steps to activate your SALT account today:

  1. Visit saltmoney.org/umaine
  2. Click “Sign Up”
  3. Enter your personal information
  4. Under “School”, enter University of Maine
  5. Create a password
  6. Click “Submit”

NEW! Text “saltmoney” to 51303 to register on your mobile device! Standard messaging rates may apply.

Where can students turn for more help?

Students and alumni can contact SALT member support directly at 855.469.2724 with any questions about their SALT accounts. If members have questions about their student loans, they should call a SALT loan counselor at 877.523.9473. Members can also follow SALT at Facebook.com/saltmoney or on Twitter at @SALT_Money.

Students can also contact a financial literacy specialist at the University of Maine Office of Student Financial Aid at 207.581.1324. Be sure to follow UMaine’s financial literacy team at Facebook.com/UMaineFinLit or on Twitter @UMaineFinLit for all the latest updates and personal finance news!