NAVIGATING THROUGH LIFE’S FINANCIAL OBSTACLES CENTRAL PIEDMONT COMMUNITY COLLEGE: KEYS TO FINANCIAL SUCCESS

Learning Objectives INTRODUCTION OF SINGLE STOP: Mark Helms A DAY IN THE LIFE OF A STUDENT SINGLE STOP AND THE APPROACH TO FINANCIAL LITERACY SINGLE STOP’S FINANCIAL EDUCATION METHODS OF DELIVERY IMPORTANCE OF FINANCIAL EDUCATION FOR COLLEGE STUDENTS

A Day in the Life of a Student THE NEED FOR FINANCIAL LITERACY AMONG COLLEGE STUDENTS MAKING CHOICES EXCERCISE DISCUSSION: WHAT DID YOU LEARN?

The Need for Financial Literacy among college Students Statistics show the earlier students learn about debt, savings, and credit, the less likely they are to struggle with debt in the future (The Huffington Post). “Research indicates that financial capability and positive academic outcomes are often correlated” (Financial Education Commission, 2015). “Large amounts debt accumulated in college is strongly associated with academic failure” (Financial Education Commission, 2015). “Higher rates of financial literacy can lower college dropout rates ” (Financial Education Commission, 2015). “Improving the financial capability of students while they are enrolled helps students achieve success both during and after graduation” (Financial Education Commission, 2015). The Need for Financial Literacy among college Students

SURVIVAL GAME: MAKING CRITICAL CHOICES From day to day our students have to make critical choices on how to spend their money on their daily necessities like food, medication, insurance and transportation. This exercise will help us to better understand the challenges our students face. SURVIVAL GAME: MAKING CRITICAL CHOICES

DISCUSSION TIME What Did You Learn?

Our Approach to Financial Literacy OUR PURPOSE PRIMARY AREA OF NEED HOW WE PROMOTE STUDENT ENGAGEMENT

Our Purpose Here at Single Stop To educate students on the importance of money management. Help facilitate the processes of managing money by providing alternative resources and methods of spending. To assist students in developing a level of autonomy and financial independence. Our Purpose Here at Single Stop

Primary Area of Need @ Single Stop The primary areas of need for students are: Understanding how to budget on limited resources Understanding the importance of credit How to establish How to manage How to repair How to pay for college Searching for scholarships Understanding financial aid Saving for a rainy day Primary Area of Need @ Single Stop

How we Promote Student Engagement It is very important to us that students recognize the importance of money management. We incorporate a collaborative effort in getting student engaged through: Student’s personal initiative Developing an internal referral system Building cross-campus relationships Require those who come in with critical needs receive financial counseling before receiving certain services. Printed material How we Promote Student Engagement

SINGLE STOP: METHODS OF DELIVERY

Personal Financial Counseling Service This provides students with a one on one coaching sessions that gives personal attention to specific needs such as: Managing Finances Creating a Budget Paying for College Understanding Credit Saving and Investing Debt management Protecting Identity Banking Personal Financial Counseling Service

VIRTUAL ONE ON ONE SESSIONS Central Piedmont Community College consists of 6 area campuses. A student population of approximately 61, 400. Our goal is to give each and every student access to personal financial counseling. Through the innovation of technology we are able to offer virtual appointments for students on our area campuses. VIRTUAL ONE ON ONE SESSIONS

Online Financial Education Curriculum Single Stop Offers Online course modules where students can learn at their own pace from our website or added to a faculty member’s Blackboard shell. Online Financial Education Curriculum

Financial Education Resources Cashcourse.com From our Single Stop website students can access resources from various other websites to further educate them on topics such as paying for college, budgeting, credit, investing and a lot more. Financial Education Resources iGrad.com CheapScholar.org Acorns.com Myfico.com

Financial Education Workshops and Organizations Workshops on various topics through: Single Stop Lunch and Learns various campuses Guest Lecturer Investment Club Financial Education Workshops and Organizations

IMPORTANCE OF FINANCIAL EDUCATION FOR COLLEGE STUDENTS FINANCIAL STABILITY LEARN TO CREATE WEALTH

Developing an understanding of money management in the early stages of life, provides a more stable foundation for the future. Studies show that students who are required to take financial literacy classes are more likely to be more financially responsible than those who did not (US Today.com, 2014). Financial literacy creates life skill such as: Setting goals Establish a Savings Purchasing a home Investing Retirement Financial Stability

Students who learn and establish an understanding for how to manage money, are also more likely to: Create strategies to establish wealth and build assets Understand how to choose the right products and services to meet long term and short term goals. Gain the ability to use decision-making processes in making financial decisions related to planning, saving, and investing. Creating a legacy Learn to Create Wealth

Questions

References Atkinson, J. S. (2012, October 16). Financial literacy lessons benefit students and state | the huffington post [Web log post]. Retrieved from http://www.huffingtonpost.com/june-st-clair-atkinson/financial-literacy_b_1971260.html The U.S. Financial Literacy and Education Commission. (2015). Opportunities to improve the financial capability and financial well-being of postsecondary students. Retrieved from US Department of Treasury website: https://www.treasury.gov/resource-center/financial-education/Documents/Opportunities%20to%20Improve%20the%20Financial%20Capaity%20and%20Financial%20Well-being%20of%20Postsecondary%20Students.pdf  

References Image References Images: Budget Lafe Preparatory school http://lafeprep.org/about-us/school-data/ Office of Inspector General Chicago Il http://chicagoinspectorgeneral.org/major-initiatives/budget-options/ College Chameleon John https://www.chameleonjohn.com/scholarship CFXQ http://cfxq.tk/college-student-pictures-clip-art/ Higher Edge http://higheredgect.org/need/ Credit: Bank of America www.bofa.com Finance: North House Financial Literacy http://www.northhouse.ca/Financial_Literacy.html BAC https://www.bankbac.com/resources/financial-education.html Cassidy and Co. Inc. http://www.cassedyandcompany.com/the-value-of-diversification-2/   Financial literacy education: Idaho Financial Literacy Coalition http://www.idahoflc.org/ Together.com http://www.togetherhr.com/prodotti-eng/together-jazz-lms-system/ Goals: Bret L. Simmons Ph.D. http://www.bretlsimmons.com/2011-01/is-your-goal-performance-or-learning/ 16 personalities https://www.16personalities.com/articles/our-theory UK Green Building Council http://www.ukgbc.org/learn-uk-gbc Virtual visits I-riseup https://i-riseup.com/our-services/