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Financial Literacy 101: Personal Finance for College Students

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Side-by-side comparison of actual aid award letters ... 'Aid Coach' guides families through the process, telling them what they need to ... – PowerPoint PPT presentation

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Title: Financial Literacy 101: Personal Finance for College Students


1
Financial Literacy 101 Personal Finance for
College Students
Course Introduction Presentation
2
About Decision Partners
  • 501(c)(3) non-profit organization founded in
    2004.
  • Offers two finance-related online courses
    TuitionEdu.org for high school students and
    FinancialLiteracy101.org for college freshmen.
  • Implemented two financial literacy programs in MA
    a pilot program in 2006 and a statewide program
    in 2007.
  • Courses were piloted by 100 institutions
    nation-wide in 2005.

3
What We Learned Students
  • Of over 500 high school seniors surveyed in
    2006/7
  • Students react well to learning about financial
    literacy online
  • 97 percent would recommend the course to
    friends.
  • 94 percent said they learned a lot from this
    course.
  • 77 percent found the course interesting.
  • Over 90 percent of students agreed that the
    course increased their understanding of credit
    cards in several areas, including the impact of
    interest on payments, the consequences of
    misusing credit cards, and the consequences of
    making just the minimum payment.
  • 60 percent of respondents had never discussed
    college debt with their parents, 48 percent had
    never discussed credit card management with their
    parents.

4
What We Learned Counselors
  • Want a financial literacy option that fits into
    existing programs rather than starting a totally
    new program.
  • Want ways to educate parents about financial aid
    before financial aid nights.
  • Want multiple ways of educating families, online
    and offline, including marketing resources to
    promote opportunities to the community.
  • Optional classroom integration is a plus.

5
We Listened Introducing TuitionEDU
  • TuitionEdu integrates both financial aid and
    money management education for students and their
    parents.
  • Designed with the feedback from dozens of
    guidance counselors.
  • Curriculum developed under the guidance of a
    former senior Duke University aid staff member.

6
TuitionEdu Goals
  • To promote college access while preventing common
    financial problems. Covers
  • Aid application process
  • Getting the best deal in student loans
  • Side-by-side comparison of actual aid award
    letters
  • Introduction to personal finance, including
    budgeting, credit cards, avoiding identity theft,
    banking strategies
  • Compliments existing financial education
    programs.

7
Outline Personalized Homepage
  • Aid Coach guides families through the process,
    telling them what they need to accomplish based
    on their actual progress.
  • Personalized start page families build around
    their own learning needs.
  • Easy-to-use visual design developed through
    extensive focus group research into online
    preferences of teens.

8
Outline Extensive Survey Integration
  • 40 survey questions capture the knowledge,
    attitudes and behaviors of students and parents
    towards college finance.
  • Used to customize parts of the course, track key
    knowledge indicators, and gather continuous
    feedback from students.
  • Final Exam measures learning and reinforces
    important points.

9
Outline Interactive Curriculum
  • Three interactive chapters for each course teach
    key lessons developed by our experts.
  • Linear learning model just like an in the
    classroom course.
  • Students may start and stop the course at will
    without having to start over.
  • Takes less than an hour.

10
Course Outline Financial Planning Tool
  • Best-in-class tool lets families compare aid
    awards, assemble assets available for college
    expenses, and plan for the future.
  • Makes personalized suggestions for maximizing aid
    based on factors including asset allocation and
    debt load.

11
Course Outline Extensive Resources
  • Hundreds of pages of detailed information,
    exercises, calculators, and downloads supplement
    the interactive course.
  • Help to address different learning styles.

12
Why TuitionEdu?
  • A true turnkey solution... no administration or
    technical support required from schools.
  • Efficiently addresses an unmet need for
    campus-wide financial education with limited
    budget/staff resources.
  • Surveys, exams and usage statistics offer
    quantitative results.
  • No credit card ads, no sales of user data, no
    lender affiliation.
  • Fits ASCA National Model for data-driven
    programs.

13
How to Participate
  • TELL US you would like to use the course in your
    school. Register online at DecisionPartners.org.
  • Includes
  • Unlimited course access.
  • Free DVD.
  • Fliers for guidance office, bulletin boards.
  • Handouts for assemblies, classrooms, financial
    aid nights.
  • Material for school newsletters, websites and
    student newspapers.
  • Course launches October 29, supplementary
    materials available in November.

14
To learn more about the many benefits of bringing
TuitionEdu to your school, please contact Jim
Pfeiffer at jim_at_decisionpartners.org (978)
562-1390 Or register online at www.decisionpart
ners.org
Thank You!
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