As tuition continues to rise, colleges are educating students about financial literacy — managing time and money to help them graduate on a timely basis with as little debt as possible.

This year Leeward Community College received the Excellence in Financial Education Certificate of Achievement, a national award that recognizes its financial literacy program.

Leeward was among the nation’s top colleges with the largest number of unique student users and courses completed through USA Funds’ Life Skills, a nonprofit program.

"It was an honor to be considered," said Aileen Lum-Akana, Leeward’s financial aid officer. "We see financial literacy as a good opportunity to help students."

The school has been using the online Life Skills software since October 2011, and so far it’s yielded positive results, Lum-Akana said. The campus was able to secure a grant that allowed the school to bring in guests to speak in classrooms about managing time and money while in college and avoiding debt.

Lum-Akana said students are not prepared to effectively manage time and money before starting college.

"(Money management) may not be taught in high schools, and there may not be many classes that teach it in college. Sometimes students do not even learn from (their) families because many families have a hard time managing their own money, too. It’s a life-learning process. We provide information to students, and although they may not see the relevance to their life at this time, they may in the future."

In addition, Susan Lee, director of marketing and communications at the University of Hawaii’s Office of the Vice President for Community Colleges, said the number of awarded Pell grants has been increasing. Pell grants — which provide need-based grants to low-income students — rose from 725 in 2006 to 2,012 in 2011, according to the UH Institutional Research and Analysis Office.

Lum-Akana said about 3,000 of Leeward’s 8,000 students receive financial aid, and last year Leeward awarded $12 million in federal, state and institutional funds to students.

The priority deadline to apply for financial aid at UH is March 1.

"I encourage everyone to apply, because you don’t know what you qualify for," Lum-Akana said. "You just won’t know unless you apply."