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Financial Literacy for College Students 2019-03-26T15:30:56-07:00

  

NFEC Promotes Financial Literacy for College Students

Picutre of class receiving Financial Literacy for College Students program

Colleges and universities all over the U.S. are beginning to recognize the massive potential value of programs that teach financial literacy for college students. According to the National Financial Educators Council (NFEC), an independent for-profit social enterprise organization, money problems form the number one reason why students drop out of higher education. Receiving the benefits of a college financial literacy program can make a huge difference in helping young adults stay in school.

But student retention is only one benefit of presenting financial literacy—college students not only receive practical money knowledge, but colleges can leverage the program toward accomplishing a variety of objectives. Students who study financial literacy topics are less likely to default on their student debts. Graduation rates go up. And the programs serve as attractive features for recruiting new students.

The NFEC has a college-level financial literacy curriculum that now is being used across the country and around the world to empower young adults with the skills they need to live successful lives post-graduation. The NFEC has a team of skilled, qualified financial professionals standing ready to tailor a campaign to a given university’s individual and outreach needs.

From standalone workshops to comprehensive campus-wide and community campaigns, the NFEC has a variety of solutions to build financial literacy on a college campus. Their packages take a holistic approach to promoting financial wellness, with materials designed to reach not only students but also parents, staff, adults interested in picking up money skills, and organized campus groups.

“I think everyone should take the class at least once,” was a comment from a community college student who recently took the NFEC’s Financial Empowerment Workshop. The hands-on approach used in this course is designed to bring the lessons home and demonstrate practical skills that can last a lifetime.

 

Financial Literacy for College Students

Providing financial literacy programs for college students can help them excel in college and beyond. The vast majority of coursework that college students receive leading up to college helps them pick up the skills to earn more money. However, little if any time is spent showing them how to keep and grow the money they earn. Providing financial literacy for students can help balance out their education.

Most agree that having a college degree gives people an advantage. Studies show college graduates will earn almost a half-million more over their lifetime then someone that has not received their college degree. Even with a $500k advantage, there are many college graduates in foreclosure, debt and struggling financially simply because they simply were not provided a personal finance education.

The NFEC takes a holistic approach when designing financial literacy programs for college students. Focus is placed on helping the university accomplish their objectives as students are provided a practical financial education. Besides wanting college graduates to excel after school, many of the colleges the NFEC works with state three main objectives when developing a college money management program.

Reduce student loan defaults. With today’s employment market, providing financial literacy for college students is becoming increasingly important. Study after study shows our youth and adults fail basic financial literacy tests. They don’t know how to budget, save nor do they understand the importance of credit. It’s no secret why the student loan default rates are so high.

The NFEC offers unique programs to help universities reduce student loan default rates. From multi-media learning centers to structured coursework, events and financial literacy workshops. The NFEC’s latest events leverages technology to create an experiential learning experience that is fun and memorable. Making financial literacy for college students enjoyable and unique can improve the retention rates of the lessons.

Protect Title IV Funding. This issue is becoming increasingly important especially for the ‘for-profit college’ community. Adding programs that increase the financial capability of college students can help to protect Title IV Funding by reducing student default and dropout rates. Plus it can save all colleges the hassle of recalculating eligibility funds for that semester.

Improve graduation rates. Financial difficulties are one of the leading causes of students dropping out of college or ‘taking a semester off’. Ensuring your students have completed a college financial literacy program can help the students be prepared for the financial realities they face in school.

One of our favorite programs, especially for entering freshmen, is the Real Money Experience money management workshop – Video below. Besides preparing them for their college finances it also motivates them to earn their degree and to start planning for their future after college. Getting the students to focus on the financial benefits a college degree offers and showing them how starting to save early can help them achieve their dreams can help to get them focused on the big picture. The results can be having highly motivated students.

Below is video that Penn State Erie filmed to highlight their financial literacy initiatives and partnership with the NFEC.

NFEC Demonstrates Commitment to College Students and Financial Literacy

Demonstrating its firm dedication to both college students and financial literacy, the National Financial Educators Council has developed full-scale money management programs to be implemented across college campuses nationwide. Using a holistic approach, the NFEC builds campaigns to increase the financial capabilities of young adults across the U.S. These campaigns may include curriculum, presentations, and online resources, as well as tools to build awareness and raise funds.

The NFEC created its campaigns to teach financial literacy for college students in collaboration with a select Advisory Board composed of award-winning educators, financial experts and professionals. The resulting programs meet core educational standards, yet present materials in fun and engaging ways to which college students can truly relate. Experiential learning methods and practical application drive the messages home by relating the lessons to real-world money issues.

Some college financial literacy programs use a didactic lecture format, which makes them dry, boring, and quickly forgotten. “At first when I heard I had to attend this course, I thought it would be boring,” commented one community college student who participated in a NFEC Financial Empowerment Workshop. “It was not boring and the speaker was excellent. I enjoyed it very much.”

These financial education programs for the university level give students practical financial education tools that will serve them throughout college and beyond. Teaching financial literacy to college students prepares them to meet the real money challenges they will face upon graduation. At the same time, the colleges can use these programs as leverage to accomplish many of their institutional goals. For example, one Midwestern university recently extended its campus financial literacy initiative to be available to citizens across the state. This expanded program reach was achieved through partnerships and funding opportunities fostered by the university’s collaboration with the NFEC.

National Financial Educators Council Promotes College Financial Literacy

Graduates of a college financial literacy program

Undertaking an initiative to promote financial literacy for college students has amazing potential for any institute of higher learning. While offering their students a chance at a better future, colleges and universities also can achieve many high-level goals by implementing such a program. Student recruitment and retention, improved graduation rates, reduced loan defaults, and protecting Title IV funds form just a few examples of benefits a financial literacy campaign can deliver.

In the realm of personal finance, college students today face a lot of challenges. Recent surveys indicate that financial problems are the top reason why young people drop out of college. Yet while many colleges may have recognized this issue, few have taken effective action. Many universities have some type of financial literacy resources. But most are boring, didactic, and fail to connect the lessons with real-world student experiences. And most existing programs lack effective promotional strategies. As a result, very few students are reached.

Now there’s a new approach to raising college personal finance awareness. The National Financial Educators Council (NFEC) has a variety of solutions from which colleges may pick and choose to create a custom campus financial literacy initiative.

The NFEC is an independent, for-profit organization with a socially responsible philosophy. The organization is committed to building financial competencies among a global audience. Their college student financial literacy programs are aimed at empowering students with practical personal finance education, while simultaneously helping colleges achieve important institutional goals.

While becoming empowered with financial literacy, college students have chosen the NFEC presentations as their most popular component. The presentations come in three packages, all designed in modular format to meet a variety of schedules. The Real Money Experience (RMX) multimedia workshop is a four-hour presentation that combines videos, live facilitation, practical activities, and evaluation. The college-level curriculum package comprises more than 80 talks, activities, and games. The RMX project-based game leads students through hands-on practice making the financial decisions they’ll face post-graduation.

A college or university interested in financial literacy programs for college students also may choose to sponsor the NFEC’s Certified Financial Education Instructor training on campus. This professional development class provides graduates with the knowledge, credibility, and confidence to become highly-effective personal finance trainers. In the past, certified instructors trained on college campuses have included educators, student groups, volunteers, and financial aid staff.

College Financial Literacy - friends and family day

The NFEC’s educational model incorporates an evaluation component to measure program impact. Pre- and post-tests have been designed to assess changes in participant knowledge and confidence before and after taking the coursework. This financial literacy quiz for college students provides the institution with valuable information about campaign success that can be leveraged to raise community awareness and attract media attention.

The unique feature of the NFEC financial literacy for college students curriculum is the practical nature of its activities. Hands-on instruction and experiential learning lend students a sense of becoming empowered to make the important financial decisions they’ll face in the real world. Practical applicability is a key method for avoiding dry, boring lessons. And the NFEC’s certified trainers are well-versed in interactive strategies to engage students and make the activities fun.

Recent research has shown that games are a particularly good way to teach skills for maximum retention. The Real Money Experience (RMX) offers a good illustration of the NFEC’s successful financial literacy games for college students. This project-based learning game offers participants an eye-opening preview of their financial futures. Each activity asks students to practice making a key money decision they’ll face after graduation.

The NFEC’s college financial literacy programs do far more than educate. They also have potential to build sustainability. Universities can use the college financial literacy programs as leverage to attract sponsors and obtain grant funding. Moreover, campus financial literacy initiatives are appealing to prospective students and their parents. By helping increase enrollment and retention, such campaigns can deliver the college an excellent return on investment.

Last year an east coast community college decided to turn NFEC resources into a campus-wide initiative. This school presented a series of financial literacy activities for college students over a semester-long period. The comprehensive campaign included a Financial Empowerment Workshop series, three mini-workshops, contests, free online financial education resources, and a booth at the college’s Spring Fling event.

The NFEC’s comprehensive campaigns linking college students and financial literacy can be customized to suit the individual college’s schedule, budget, and objectives. From a one-hour workshop to a statewide initiative, the NFEC can customize a program that aligns with institutional goals. NFEC products and services reduce the time, personnel, and cost needed to implement a financial literacy program.Financial literacy workshop for college students

And the programs really make a difference. For example, to a college student, budgeting effectively may pose a nearly insurmountable difficulty. The Money Management 101 lesson has students prepare personal budgets that really work. “What I liked most was how to budget my money,” commented one student who participated. “I got some good advice on how to rebuild my credit.”

The NFEC also offers highly-qualified presenters to teach a personal finance college course. All certified graduates of the instructor training automatically become members of the Personal Finance Speakers Association, the first nationwide speakers’ bureau solely focused on the financial literacy agenda. These speakers are available for classes, talks, and keynote addresses worldwide. a difference. For example, to a college student, budgeting effectively may pose a nearly insurmountable difficulty. The Money Management 101 lesson has students prepare personal budgets that really work. “What I liked most was how to budget my money,” commented one student who participated. “I got some good advice on how to rebuild my credit.”

Promoting money management for college students helps them develop into successful, contributing society members after they graduate. And learning how to manage money in college will help kids avoid the financial pitfalls—like overwhelming credit card and student debt—with which so many U.S. adults are grappling today. Learning effective money management in college empowers young people with a set of skills that will serve them for a lifetime.

During the process of learning about money management, college students might pick up some inspiration to pursue ideas for entrepreneurship. Whether or not they become motivated to start their own small businesses, entrepreneurial skills can benefit students in many ways. The traits that make a good entrepreneur—such as determination, goal-orientation, strong ethics, and resilience—are applicable to succeeding in nearly every aspect of life.

Another key skill set advocated by the NFEC for teaching college students money management is how to build a trusted team of financial advisors. While kids are in college, this may start with finding a mentor. Creating a positive relationship with a good mentor will save young people years of time spent learning by trial and error. College professors, instructors, and employers provide excellent sources for experienced individuals who may be willing to mentor a student.

Mentorship and other efforts to promote money-management-skills-for-college-students have many more benefits for a college or university. The NFEC collaborates with higher education institutions across the U.S. Such collaborations have yielded positive ROI for schools in terms of student recruitment, building connections with parents, fostering community goodwill, and attracting media coverage.
Teaching financial literacy to college students

Money management activities for college students can be found not only in the NFEC college financial literacy curriculum and presentations, but also in the online resource and learning center to which colleges may gain free access. A university might supplement a campus-wide financial literacy campaign by making these free tools available to students, or use the online center as its total personal finance education solution. Just like the curriculum and RMX game, the online resources are practical, applicable, and fun.

Every program designed by the NFEC at the college level offers money management tips for college students. For example, students need to learn the essentials of banking and how to set up an appropriate account structure. The basics of saving and investing, compounding interest, career planning, educational goals, community service, and networking also form key lessons in the NFEC materials. These programs are all about succeeding in the real world.

A financial literacy campaign will only achieve success if students actually show up. That’s why the NFEC also emphasizes effective marketing and promotion. They will provide easily customizable marketing packages that help colleges attract students to events, inform faculty and staff about available resources, and raise community and media awareness about the initiative. Another set of tools to raise awareness are the money management articles for college students available through the online resource center. These articles might be sent as press releases or guest columns to local newspapers to attract attention to the university’s financial literacy efforts.

The team of financial literacy experts at the NFEC offers a free initial consultation to college administrators to learn more about college financial literacy programming options. A skilled consultant will answer questions, assess individual needs, and help tailor a package to meet unique institutional objectives.

Financial Literacy College Students

Financial Literacy College Students and Money

When it comes to financial literacy, college students in the U.S. may be at a distinct disadvantage. According to recent studies, current economic conditions mean as many as 70% of college graduates are likely to move back in with their parents after they receive their degrees. But now there’s a solution: the National Financial Educators Council (NFEC) has a broad scope of initiatives to promote financial literacy for college students.

Delivering compelling, relevant college financial literacy training has the potential to help both students and schools achieve a variety of goals. Colleges and universities, in collaboration with the NFEC, can develop programs that maximize student retention and encourage positive behavior change to help young adults build secure futures. The NFEC resources are modular in design to facilitate customization.

While solidly based in theory, the NFEC curriculum also is designed to be fun and engaging for the participants. The financial literacy activities for college students utilize hands-on strategies to give young people a chance to practice the money management skills they’ll need once they venture out into the real world. All the events, curriculum materials, and online resources were developed by an award-winning team of educators, financial education experts, and financial professionals.

For colleges and universities, improving student financial literacy has many advantages. Financial problems have been cited as the major reason why students drop out of college. Improved graduation rates make institutions more attractive to new students. And giving students the tools they need to succeed in life enhances a college’s reputation with parents, donors, the media, and the community as a whole.

Universities around the country may take advantage of the NFEC’s turnkey solutions to promoting financial literacy among students, staff, and community members. Learn how these tools can be leveraged to accomplish institutional objectives.

 

NFEC Promotes Financial Literacy for College Students

Picutre of class receiving Financial Literacy for College Students program

Colleges and universities all over the U.S. are beginning to recognize the massive potential value of programs that teach financial literacy for college students. According to the National Financial Educators Council (NFEC), an independent for-profit social enterprise organization, money problems form the number one reason why students drop out of higher education. Receiving the benefits of a college financial literacy program can make a huge difference in helping young adults stay in school.

But student retention is only one benefit of presenting financial literacy—college students not only receive practical money knowledge, but colleges can leverage the program toward accomplishing a variety of objectives. Students who study financial literacy topics are less likely to default on their student debts. Graduation rates go up. And the programs serve as attractive features for recruiting new students.

The NFEC has a college-level financial literacy curriculum that now is being used across the country and around the world to empower young adults with the skills they need to live successful lives post-graduation. The NFEC has a team of skilled, qualified financial professionals standing ready to tailor a campaign to a given university’s individual and outreach needs.

From standalone workshops to comprehensive campus-wide and community campaigns, the NFEC has a variety of solutions to build financial literacy on a college campus. Their packages take a holistic approach to promoting financial wellness, with materials designed to reach not only students but also parents, staff, adults interested in picking up money skills, and organized campus groups.

“I think everyone should take the class at least once,” was a comment from a community college student who recently took the NFEC’s Financial Empowerment Workshop. The hands-on approach used in this course is designed to bring the lessons home and demonstrate practical skills that can last a lifetime.

 

Financial Literacy for College Students

Providing financial literacy programs for college students can help them excel in college and beyond. The vast majority of coursework that college students receive leading up to college helps them pick up the skills to earn more money. However, little if any time is spent showing them how to keep and grow the money they earn. Providing financial literacy for students can help balance out their education.

Most agree that having a college degree gives people an advantage. Studies show college graduates will earn almost a half-million more over their lifetime then someone that has not received their college degree. Even with a $500k advantage, there are many college graduates in foreclosure, debt and struggling financially simply because they simply were not provided a personal finance education.

The NFEC takes a holistic approach when designing financial literacy programs for college students. Focus is placed on helping the university accomplish their objectives as students are provided a practical financial education. Besides wanting college graduates to excel after school, many of the colleges the NFEC works with state three main objectives when developing a college money management program.

Reduce student loan defaults. With today’s employment market, providing financial literacy for college students is becoming increasingly important. Study after study shows our youth and adults fail basic financial literacy tests. They don’t know how to budget, save nor do they understand the importance of credit. It’s no secret why the student loan default rates are so high.

The NFEC offers unique programs to help universities reduce student loan default rates. From multi-media learning centers to structured coursework, events and financial literacy workshops. The NFEC’s latest events leverages technology to create an experiential learning experience that is fun and memorable. Making financial literacy for college students enjoyable and unique can improve the retention rates of the lessons.

Protect Title IV Funding. This issue is becoming increasingly important especially for the ‘for-profit college’ community. Adding programs that increase the financial capability of college students can help to protect Title IV Funding by reducing student default and dropout rates. Plus it can save all colleges the hassle of recalculating eligibility funds for that semester.

Improve graduation rates. Financial difficulties are one of the leading causes of students dropping out of college or ‘taking a semester off’. Ensuring your students have completed a college financial literacy program can help the students be prepared for the financial realities they face in school.

One of our favorite programs, especially for entering freshmen, is the Real Money Experience money management workshop – Video below. Besides preparing them for their college finances it also motivates them to earn their degree and to start planning for their future after college. Getting the students to focus on the financial benefits a college degree offers and showing them how starting to save early can help them achieve their dreams can help to get them focused on the big picture. The results can be having highly motivated students.

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