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Create Successful Financial Literacy on Campus. Presented by: Dianne Fulmer, USA Funds Colleen MacDonald, SimpleTuition Pat Robles-Friebert, Inceptia. CLFE Mission.

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create successful financial literacy on campus

Create Successful Financial Literacy on Campus

Presented by:

Dianne Fulmer, USA Funds

Colleen MacDonald, SimpleTuition

Pat Robles-Friebert, Inceptia

WASFAA Conference 2013

clfe mission

CLFE Mission

As a diverse coalition of industry participants, CLFE shall engage in activities that improve and preserve the quality and integrity of education financing products and services delivered to California students, parents and schools.

WASFAA Conference 2013

what is financial literacy
What is financial literacy?
  • Aptitude for understanding finance
  • Ability to make informed, effective decisions about finances
  • Knowledge of personal finances
    • Budgeting ▪ Banking basics
    • Managing credit cards ▪ Student loan
    • Understanding a paycheck

WASFAA Conference 2013

delivery methods
Delivery Methods
  • Website Links
  • Email
  • Group Workshops
  • One-on-one Sessions
  • Online Education/Gaming
  • Publications
  • Inserts
  • Articles
  • Flyers
  • Other

WASFAA Conference 2013

making the case rise in coa student debt
Making the Case – Rise in COA & Student Debt
  • 19% of full-time students at public four-year colleges and universities attend institutions that increased their published prices by 12% or more.
  • Average debt per borrower was $22,000 from the public 4-year colleges and $28,100 from private 4-year colleges

Source: 2011 College Board Trends in Student Aid

Source: 2009 Decision Partners Financial Literacy 101 webinar

WASFAA Conference 2013

making the case lack of financial skills 2010 state by state financial capability survey
Making the Case – Lack of Financial Skills2010 State-by-State Financial Capability Survey

Source: 2010 State-by-State Financial Capability Survey conducted by FINRA Investor Education Foundation

WASFAA Conference 2013

making the case legislative environment
Making the Case – Legislative Environment
  • Changes to Cohort Default Rates (CDR)
  • Initiatives by Consumer Financial Protection Bureau (CFPB)
  • Gainful EmploymentRegulations

WASFAA Conference 2013

making the case stress and money
Making the Case – Stress and Money

Source: 2007 DUCK = Deep Underground Credit Knowledge

WASFAA Conference 2013

making the case students want help
Making the Case – Students Want Help
  • 84% of college students want more information on financial education topics.
  • 24%of college students say they are well prepared for the financial challenges that await them after graduation

Source: 2009 Sallie Mae survey

Source: 2007 Hartford Financial Services

WASFAA Conference 2013

identify your students needs
Identify Your Students’ Needs
  • Survey students
    • Topics
    • Delivery methods
  • Review results
  • Draft a curriculum

Survey Topics

  • Banking Basics
  • Buying a home or car
  • Credit reports and scores
  • Debt and Borrowing
  • Financial Goal-Setting
  • Health and life insurance
  • Identity theft
  • Investment basics
  • Making a budget
  • Making major purchases
  • Paycheck and taxes
  • Paying for College
  • Rebuilding credit
  • Renter’s and auto insurance
  • Setting and saving for goals
  • Understanding credit

WASFAA Conference 2013

create a success team
Create a Success Team
  • Look at your organization chart to identify potential departments to partner with
  • Create a proposal
    • Define the purpose
    • Identify benefits to school and students
    • Propose delivery methods and potential content
    • Note success measurements
    • Outline costs, resources, and potential personnel
    • Confirm buy-in

WASFAA Conference 2013

why they ll buy in
Why They’ll Buy In

Full chart available at:

WASFAA Conference 2013

planning timeline
Planning Timeline

WASFAA Conference 2013

the proposal
The Proposal

WASFAA Conference 2013

marketing getting students to attend
Marketing - Getting Students to Attend
  • What is the topic/name of the workshop?
  • What time does the workshop begin and end?
  • Where is the workshop?
  • Which methods will be used to promote the workshop?
    • flyers /posters
    • e-mail
    • newsletter/newspaper
    • word of mouth/social media
    • other
  • How will the attendee benefit?

WASFAA Conference 2013

marketing and promotion
Marketing and Promotion
  • Utilize social media
  • Build in to existing services (FYE, Greek Life, Housing, etc.)
  • Educate your colleagues
  • Word-of-mouth

WASFAA Conference 2013

example flyer
Example Flyer

WASFAA Conference 2013

paying for a financial education program
Paying for a Financial Education Program
  • External
  • Internal dollars
  • In-kind
    • Leverage existing resources
    • Certify your staff
  • Students
  • Free resources

WASFAA Conference 2013

student participation
Student Participation
  • Innovators – Seek new opportunities and ideas
  • Early adopters – Grasp and apply some ideas
  • Early majority – Gathering ideas
  • Late majority – Aware of ideas
  • Laggards – Unconcerned

WASFAA Conference 2013

case study corinthian colleges inc
Case Study: Corinthian Colleges, Inc.
  • A Campus Student Loan Specialist at Every Everest and WyoTech campus: Creating and Fostering Rapport
  • Mandatory Financial Literacy
  • Mandatory In-Person Exit Counseling for Graduates
  • On-going workshops and outreach events

WASFAA Conference 2013

case study monterey institute of international studies
Case Study: Monterey Institute of International Studies
  • Summer Debt Letters with Current and Projected Repayment
  • Mandatory Exit Loan Counseling
  • Post Enrollment Budgeting Assistance

WASFAA Conference 2013

case study stanford graduate school of business workshop series
Case Study – Stanford Graduate School of BusinessWorkshop Series


  • Financial Aid At the GSB
  • “Why Didn’t Any One Tell Me This While I Was in Business School?”
  • Monitoring Spending, Determining Needs and Wants, and Creating a Spending Plan


  • Financing 101: Mortgage
  • The Path to Home Ownership
  • Foreclosures and Short Sales
  • Mandatory In-Person Exit Counseling for Graduating Students
  • Loan Repayment Strategies


  • Deducting Your GSB Expenses
  • International Tax Workshop
  • Knowing Your Credit Score
  • Identity Theft: Protect Yourself

WASFAA Conference 2013

training created by
Training Created by

WASFAA Conference 2013