Decision Partners Launches First Online Financial Management Course for College Students
Boston, July 12, 2005 - Decision Partners, Inc. today announced the launch of the first online course designed to help prevent many of the common financial problems faced by today's college students. At a time when student debt has reached record levels, this new resource will be an invaluable tool for helping students and parents make smart financial choices.
After a nine-month beta testing period with over 30 high schools and colleges, Financial Literacy 101 offers the latest tools and information related to the special financial needs of college students, including budgeting, managing credit, credit scores, banking and identity theft. Developed under the guidance of senior administrators from Duke University's financial aid office, the two-hour course is an immersive experience that integrates a curriculum-based learning program with a high degree of personalization, tailoring the experience of each student to his or her personal goals and learning needs. After taking a pre-course survey to assess each student's financial knowledge, attitudes and behaviors, students progress through a multimedia learning experience with interactive exercises, streaming audio and synchronized slides. After taking the course, students take a graded final exam to measure learning gains.
"With the average loan and credit card debt approaching $25,000 for new college graduates, the financial situation of today's young adults is rapidly becoming a crisis," said Austin Jackson, CEO of Decision Partners. "By helping students think critically about financial topics relevant to their own lives - from the ubiquitous credit card marketing seen on many campuses to personal spending and saving habits - Financial Literacy 101 is a true prevention course that encourages responsible choices."
Dubbed "Generation Broke" by the media, recent college graduates face record levels of both educational and consumer debt. The average educational loan debt has recently surpassed $20,000 for an undergraduate degree and the average credit card debt for recent graduates is nearly $4,000. In fact, according to a Georgetown University study, one in five graduates have a credit card debt of $10,000 or more upon graduation and a recent Nellie Mae study has shown that the average college student has over four credit cards upon graduation. Financial Literacy 101 encourages students to see the benefits and risks of debt, and to make decisions that are right for them.
An Internet-based course, Financial Literacy 101 can be delivered by universities as part of a first-year orientation program or independent of any "in the classroom" curriculum. The course is delivered free to students and is paid for by their school at an average cost of under one dollar per student - a fraction of what for-profit companies charge for similar courses.
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