Financial Literacy 101 for College

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FinancialLiteracy101.org is an entirely new way for students to learn about managing money as they transition to college. Far more than static textual information, Financial Literacy 101 is an engaging multimedia experience that combines a robust curriculum tailored to the needs of students with a learning model designed to actually prevent financial problems before they start.

Why educate students about personal finance? Student indebtedness is one of the most pressing problems facing today’s graduates since starting salaries have not kept up with increasing debt loads. In fact, the popular media often refers to recent graduates as "Generation Debt".

Consider the following:

	The average student's loan debt is now approaching $20,000 for an undergraduate degree
	According to some studies, the average credit card debt for new graduates is approaching $4,000, with 1 in 3 students graduating with credit card debt in excess of $10,000
	In 2001, 83% of undergraduates had more than one credit card, up from 67% in 1998, and 47% of students with credit cards have four or more, up from 27% in 1998
	Of first-year students with credit cards, up to 3 of 5 "max them out" during their first year of school
	Employers are increasingly using credit scores and credit reports in making hiring decisions

Further, excess debt is not just a problem for graduates. The cycle of unintended debt – particularly from credit cards – often starts as early as the first year on campus and has an immediate negative effect on student success and retention.

At Decision Partners, we see financial literacy as an issue the affects the entire campus community; an issue that should be addressed with the same kind of institutional priority as alcohol and other drug prevention or enhancing student health. It’s time to move beyond programs that provide only "information" or "awareness" – financial literacy education needs to be rooted in a learning model that is customized to the student and is sensitive the myriad of factors that contribute to attitudes about money – from peer pressure to family backgrounds. And programs must include assessment tools for the objective evaluation of program results.

There is a financial literacy gap on America’s college campuses that needs to be closed with comprehensive education for each and every student. That’s why we created Financial Literacy 101.

The Financial Literacy 101 Course

Starting with an interactive, multimedia course that can be completed in about an hour, students learn not only the basics of personal finance, but also how the financial decisions they make in college may affect their lives - both during and after college. Students may then continue their education on topics of their choice in the personalized resources area and track their financial goals and spending habits using online tools.

Designed for the specific challenges of college undergraduates, FinancialLiteracy101.org focuses on key financial literacy issues as students make the transition to an independent financial life, including credit management, budgeting, banking, and identity theft.

The course also integrates robust survey and assessment tools that may be used by college administrators to understand the financial knowledge, attitudes, and behaviors of students on their campus. We view this financial literacy course as the cornerstone of a comprehensive financial education program that may also include peer counseling, social marketing campaigns, and other educational programs deemed appropriate by college administrators.

Contact us to request a demo access code.