Decision Partners Announces Student Financial Literacy Program for Higher Education Institutions
Boston, July 19, 2007 - Decision Partners today announced a new financial literacy education program designed specifically for use by higher education institutions. This groundbreaking online program enables any university to offer an independent, best-in-class financial literacy education to every student, even before they arrive on campus.
Decision Partners produces Financial Literacy 101 for College, an online financial literacy course recently endorsed by the American College Personnel Association (ACPA) and used in high schools throughout MA. The one-hour course is an interactive, multimedia experience that teaches students the decision-making skills they need to navigate the financial challenges of college life. Topics include: creating a budget, avoiding credit card debt, choosing the right bank account, understanding credit reports and credit scores, debt reduction strategies, avoiding identity theft, and a host of other topics relevant to college students.
After completing the course, students continue to have access to a personalized resources area and receive ongoing financial literacy education via email. Parents are also encouraged to participate.
"Students have never needed financial literacy education more than today," said Austin Jackson, CEO of Decision Partners. "We routinely ask students to make financial decisions that will follow them for a decade or more after graduation, yet we rarely teach students how to avoid even the most predictable financial problems while in school. With up to one in three students graduating with over $10,000 of credit card debt1 in addition to student loans, the time for action is now. Higher education institutions are ideally positioned to make a positive difference."
Unintended student debt does not only affect recent graduates - even first-year students begin to suffer the consequences of uninformed financial decisions almost as soon as they arrive on campus. According to a recent Noel-Levitz study2 of nearly 100,000 first-year college students, 60 percent report that "financial problems" interfere with their schoolwork and 30 percent report "financial problems that are very distracting and troublesome."
Student debt, particularly revolving debt in which payments are not deferred until graduation, can cause a host of well documented negative consequences including stress, family problems, reduced academic performance, damaged credit scores, and even dropping out of school.
Financial Literacy 101 for College is a complete turnkey education solution that's designed to be the cornerstone of a comprehensive financial literacy education program. It places no administrative, technical or support burdens on school staff. In addition, the surveys taken at the beginning and end of the course yield a comprehensive set of data offering insight into the financial knowledge, attitudes, and behaviors of students on each campus. Data from Financial Literacy 101 for College implementations can be used to inform other education efforts such as social marketing, peer education, and encouraging parent/student dialogue on financial topics.
Course administrators have access to a real-time control panel to verify student participation and students may print a secure course completion certificate if needed. An annual report including all survey and usage data is provided at the end of the school year. Custom survey questions are also available for an additional fee.
The course is paid for by the university and is free of advertising. The course curriculum was developed independently under the guidance of a senior financial aid administrator at a major university (see our advisory board) and has no ties to any lender or lender-sponsored entity. No student contact information whatsoever is sold or released to any third party.
The course is easily integrated into a variety of existing student programs, including those coordinated by admissions, financial aid, and student affairs.
To learn more about bringing one of our services to your organization, please contact us.