Looking for help planning for your financial future, budgeting, managing debt, or investing? The University of Minnesota offers several financial consultation resources for employees and families. Learn more about your options.
Help With Budgeting, Debt Management, and Personal Finance
All University employees and their families are eligible to use services from LSS Financial Counseling, a nonprofit financial counseling service. You can meet in person, by phone, or online.
You are eligible for up to six free, confidential counseling sessions per year.
See below for more information on how LSS can help.
Budgeting and Paying Down Debt
A certified financial counselor can help you:
- Develop an actionable plan to save more, reduce debt, or meet another financial goal.
- Consolidate payments, and set up a Debt Management Plan (DMP) if needed. A DMP consolidates your monthly credit card payments into one simple monthly payment—often with a lower interest rate—to LSS. Most creditors will stop late fees and reduce interest rates because a DMP helps them to get paid in full. Note: There is a monthly service fee based on the size of your payment, but the DMP set-up fee is waived for University employees.
Improving Your Credit
A certified financial counselor can help you read and understand your credit reports, correct any errors, and prevent identity theft. They’ll also help you make a personalized action plan to improve your credit score.
Preparing to Buy a Home and Housing Concerns
Housing counselors can help you assess your housing options, whether you’re having trouble making mortgage payments or considering buying a home. Counselors are certified by the Department of Housing and Urban Development.
Paying Down Student Loans
A certified financial counselor will help you create a realistic plan to tackle your loans. Counselors are familiar with all types of student loans and loan forgiveness programs, including Public Service Loan Forgiveness (PSLF). Learn more about the PSLF and how LSS can help.
Contact LSS
Book an appointment with LSS online through the LSS website. Or, call 1-800-528-2926 to schedule.
Help With Investment and Retirement Planning
Fidelity offers free consultations to University employees, in addition to administering retirement savings plans. You can sign up for an appointment even if you don’t have a retirement savings plan through Fidelity.
Fidelity advisors can help you with:
- Financial strategy
- Investments
- Retirement income planning
- Retirement savings
University employees can also access free investment and retirement planning resources through Fidelity's NetBenefits® platform. You do not need a retirement savings plan through Fidelity to sign up for a NetBenefits account.
Access Fidelity Resources
University Help
Reach out to the Contact Center for general questions, including questions about life events. For in-depth benefits counseling, you can schedule a consultation with Office of Human Resources benefits counselors. They cover:
- Pre-retirement (schedule for about six months ahead of retirement)
- Reclassification considerations and questions
Ask the Contact Center to help you set up an appointment.
More Resources
Free Financial Webinars
Grow your financial literacy through free webinars from Fidelity and LSS. Find financial webinar offerings for University employees and spouses on the events calendar.
University Extension also offers resources and events on home ownership, budgeting, and more. Visit Extension's website for more information.
Estate Planning
University life insurance provider Securian Financial offers a variety of online information and resources. Covered topics include end-of-life and funeral planning, final arrangements, and important directives.
Identity Theft
The University's Employee Assistance Program provider, Lyra Health, offers one free 60-minute consultation with a Fraud Resolution Specialist. Learn more on the EAP page.
Life Insurance Planning
University life insurance provider Securian Financial's Benefit Scout™ tool can help you plan for your needs. Learn more about your life insurance benefit.