College Personal Finance Program Changes Lives, Benefits Schools
When young people head off to college, personal finance may be the farthest topic from their minds—which are full of logarithms, Shakespeare, and dreams of landing their ideal jobs. And the sad truth is that most colleges do little or nothing to help prepare students for the financial real world they’ll face post-graduation. Yet financial literacy programs have the potential to deliver myriad benefits not only to the students who learn the skills, but also to the schools that present them.
The National Financial Educators Council (NFEC) helps colleges and universities design custom personal finance college campaigns, initiatives that truly get young adults interested in learning about money. These initiatives are proven effective for giving students practical educational tools that make a positive and lasting difference in their lives. In addition, the NFEC approach to teaching personal finance is holistic, meaning universities may use the resources to accomplish a variety of objectives.
Schools all over the country have employed the comprehensive NFEC college student financial literacy programs to achieve the following goals:
- Recruit new students
- Maximize student retention and graduation rates
- Prevent student loan defaults
- Create media awareness
- Raise funds and protect Title IV funding
- Build goodwill among parents and community leaders
College Personal Finance Standards
In collaboration with industry experts, the NFEC has already drafted educational standards, text of the legislative bill, and a business model to serve as a foundation plan for further development. These draft plans are available to view, and we want to improve them by asking you to add your ideas. We will use this open source model to leverage intellectual input from people with passion and expertise to contribute toward improving our youth’s financial capabilities.
We encourage you to contribute your expertise to the college personal finance standards. You will receive recognition for any ideas you share. Contribute your knowledge to:
College Financial Literacy Standards | College Student Protection and Financial Education Act | Business and Advocacy Model
Thank you for taking action and helping us to expand college personal finance initiatives! Together we can help today’s students avoid excessive student loan debt and gain the personal finance knowledge that can have a positive long-term impact on their lives.
The broad range of resources available through the NFEC can be used individually or combined for greater impact. The resources are designed in components that can be tailored to fit each school’s unique needs. From a single personal finance college course to a comprehensive community-wide campaign, the NFEC has a turnkey package for a variety of objectives. While empowering students with financial skills that will help secure their futures, colleges can reap the benefits of becoming recognized leaders in promoting the financial literacy movement.