Financial Literacy Programs on Campus

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Overview/Questions

• Why create a Financial Literacy program?• Where do I begin?• How do I involve other offices on my campus?• How do I engage my students?• What should I cover?• How do I measure success?

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Why create a Financial Literacy program?

• Preparing your students for financial success during college will help them to be successful after college.

• Prepared students will be more likely to:» Successfully repay their student loans.» Advocate for the value of higher education.» Become active alumni.

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Where do I begin?

• Establish a team of resources on your campus.• Create common themes through simplistic, meaningful

messages.• Use relatable examples and help students create their own.• Implement a diversified approach.• Track your success with measurable objectives.

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How do I involve other offices on my campus?

Establish a team including:» Financial Aid Staff» Career Center» Faculty (Finance, Marketing, etc.)» Resident Life Staff» Greek Life/Social Groups» Athletic Clubs» Political Organizations» Academic Associations

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How do I engage my students?

• Consider a diversified approach.» Personalized communications on their total indebtedness» Social media (Facebook, Twitter, etc.)» In-person sessions» School publications» Supplement existing courses/programs, such as entrance

counseling and orientation» Identify ‘at-risk’ populations to target» Peer mentors/alumni buddies

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What should I cover?

• Understanding Financial Aid• Budgeting

» Assess their financial situation.» Identify needs vs. wants.» Understand their financial behaviors.» Create a plan for the future.

• Time Management• Using Credit Wisely

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How do I measure success?

• Set specific goals for each event and initiative.• Gauge student participation.• Survey students for feedback.• Monitor behavioral changes

» Reduced overborrowing» Reduced loan default

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Let’s discuss!

• What are you doing today for financial literacy?• What would you like to start immediately doing when you

return to your office?• What changes would you like to implement over the next six

months?

Questions? Comments?