Financial Literacy 101 for College
With over 100 colleges and universities as direct customers (in addition to hundreds more through our licensing program), Decision Partners brings online financial education to a wide variety of institutions and educational contexts. From providing Financial Literacy 101 to all first-year students at the University of South Florida to serving select students through the University of California at Berkeley's Disabled Students Program, Decision Partners can meet the needs of diverse student groups with our internet-based financial education platform.
We also realize that 3 out of 4 college students are classified as non-traditional, meaning they are older and have more complex financial challenges than the stereotypical college student. Financial Literacy 101 includes customization designed specifically for non-traditional students, and our new Explore area is filled with content appropriate for students with more complex needs. Unlike other student-focused financial education programs, a non-traditional student will never feel that Financial Literacy 101 is "not for me" or "only for younger students."
Financial Literacy 101 (course tour) is an entirely new way for students to learn about managing money as they transition to, through, and beyond 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 prevent financial problems before they start.
Why educate students about personal finance? Student indebtedness is one of the most pressing problems facing today's college students. Starting salaries have not kept up with increasing debt loads and the average debt load of recent graduates has increased more than 300% in inflation-adjusted dollars since 1991. In fact, the media often refers to recent graduates as "Generation Debt".
NEW! Comparative Analysis of Financial Literacy Programs (PDF file)
Consider the following:
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The average student's loan debt is now approaching $25,000
for an undergraduate degree |
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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 |
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Of first-year students with credit cards, up to 3 of 5 "max them
out" during their first year of school |
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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 that affects the entire campus community; an issue that should be addressed with the same kind of institutional priority as alcohol and other drug prevention. Financial literacy education also needs to be rooted in a learning model that is customized to the student and is sensitive to the myriad of factors that contribute to attitudes about money. Further, we believe 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.
To learn more about our internet-based financial literacy program, please take our Financial Literacy 101 tour.
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