University 101 Programs

Financial Literacy for College Students

Presentation Abstract
First-year students will be making significant financial decisions that will impact not only their current well-being, but their future financial situation as well. “Financial Literacy for College Students” will improve students’ financial knowledge through class discussion on a variety of topics, including budgeting, credit cards, types of loans, various interest rates, and identifying resources for additional support and information.

University 101 Learning Outcomes

II a) Identify and use appropriate campus resources and engage in opportunities that contribute to their learning within and beyond the classroom.

This presentation will help students understand the importance of using the Student Success Center (Financial Literacy Program) and Career Center in order to improve their understanding of financial concepts and services. The students will be empowered to make informed choices and take action to improve their present and long-term financial well-being.

It will support and encourage students to begin setting (financial) goals and making plans about the beyond-the-classroom experiences, which will ultimately impact their academic, career, and personal goals.

III c) Examine and develop strategies that promote wellbeing and explain how wellness impacts their academic and personal success.

Students will know how to find financial information relevant to college students (student loans). They will understand the importance of considering the financial implications of personal decisions. Lastly, they will gain strategies, such as budgeting and financial planning, that can assist students in taking responsibility for their personal finances.

Presentation Learning Outcomes
As a result of this presentation, students will be able to:
-Create a budget, including discussion of income, expenses, and savings.
-Compare the benefits and costs of various forms of credit (credit card, student loans, payday loans, etc.).
-Identify resources that can be used to discover more information on budgeting tools and credit comparisons to ensure students have the information when they need it.

Presentation Outline
The presentation will begin with a discussion of budgets. This will include a budget plan and continuously measuring how those goals are met. Budgets should identify income, expenses, and saving.

Income will be covered by discussing various types of expenses and how much of your income should be allotted to various expenses/savings. This will be an interactive activity where students discuss the "ideal" percentage of their income that should be attributed to those expenses (housing, food, insurance, etc.).

For 75 minute presentations (add this discussion):
The discussion will shift to credit, for college student expenses often exceed income. The presentation will discuss different ways of funding those expenses - i.e. student loans, auto loans, credit cards, payday loans, etc. The interactive component for credit will include students looking at average interest rates for various loans and discuss/compare interest rates for these types of loans. For example, interest rates for student loans are much lower than credit cards, and payday loans have the highest interest rates. We will also discuss the rule of 70 (or 72) and compound interest. This portion will conclude by discussing the advantages and disadvantages of various methods for paying off loans (high interest rate first, smallest loan amount first, etc.).

For 50 & 75 minute presentations (after credit is discussed):
The presentation will conclude by offering resources for places students can go to get more information on creating a budget, comparing credit cards, and paying off loans. Students will need this information at different times throughout their college career and into the future. By providing students with the knowledge on the best way to search for accurate information, they can complete just-in-time searches for information when they need it. Facilitator will provide pertinent information on the Student Success Center.

Presentation Length
50 minutes; 75 minutes;

Presenter Training
The Coordinator of Financial Literacy in the Student Success Center will serve as the primary presenter. She has a master’s degree in Higher Education Administration, with a concentration in Student Affairs Administration. Prior to the fall 2016 semester, the Coordinator of Financial Literacy will complete the Personal Financial Management certification, which is geared to higher education professionals. Using this knowledge and knowledge of SSC financial literacy program and curriculum's, the coordinator will train other professional staff in the office to facilitate the Financial Literacy for College Students presentation.

Prior to the start of fall 2017 classes, the professional staff involved with facilitating this presentation will participate in a half-day training meeting. During this meeting, training will take place for the U101 campus partner presentations. Staff will participate in the workshop (as if they were students), then the workshop will be discussed from the facilitator perspective.