Information on managing debt acquired by St. John's University students is provided. After a review of the objectives and services of the university's financial aid office and the application and award process, 1984-1985 budgets and estimated 1985-1986 budgets are proposed for an undergraduate, graduate, and law school student. Each budget provides expense data based on students' dependency status. Financial counseling services offered to first-year students, upper-class undergraduates, and law and graduate students are described. Loan deferments are also discussed, along with kinds of investments that students might make with part of their income. Information is provided on acceptable levels of indebtedness, based on entry-level salary levels for over 80 professions. Additional data are presented on: the average cumulative levels of indebtedness of St. John's University graduates in 1983; living expenses (e.g., transportation, rent); student loan repayment for different interest rates; and taxes students will have to pay. Sample budgets for undergraduate, graduate, and law students cover: living at home/no car, living in own apartment/no car, living at home/used car, and living at home/new car. Agendas of seminars on financial planning and debt management are appended. (SW)