Montana University System Financial Literacy Program April 17, 2013

1.Increase tuition assistance for low and moderate income students 2.Provide targeted Financial Literacy efforts to students most likely to generate high levels of debt 3.Increase centralized Default Prevention efforts

Board of Regents requires the development of a coordinated and collaborative approach to financial literacy education that enhances and connects existing campus and system efforts Commissioner assigns Student Financial Services responsibility for coordinating efforts system-wide Utilize Affordability Taskforce as system advisory council for financial literacy efforts

Strengthen Montana’s financial literacy programs in an effort to reduce student debt by developing a coordinated and collaborative approach to financial literacy education efforts that enhances and connects existing efforts. The program will advance best practices, target high risk students, focus on low-income and other underrepresented groups as well as address the general student population.

$400,000 dedicated funding $300,000 sub-granted to campuses for the development of programs – RFP process last fall – Funds awarded in October Best practices developed and being refined Educational materials upgraded – – Dollars and Sense workbooks updated

CACG RFP Recipients CampusScoreFunding Requested Allowed Amount**Awarded Funds MSU-Bozeman980/1000$79, Helena College-UM920/1000$38, MSU-Northern770/1000$24, MSU-Billings680/1000$79, $70, Fort Peck CC580/1000$79, $49,967.72$28, Blackfeet CC490/1000$67, $42,713.88$20, FVCC440/1000$57, $17,012.80$7, UM-Missoula380/1000$80, $52,610.00$19, $506,696.14$375,914.56$290, **Funding requests outside RFP Guidelines or duplicative were removed Top four proposals funded at 100% of allowed amount Lower half of proposals funded based on percentage of overall score multiplied by allowed amount

Carina Beck, Director of Student Success, MSU-Bozeman Leslie Weldon, Director of Financial Aid, MSU- Billings Valerie Curtin, Director of Financial Aid, Helena College Carie Kelly, Program Manager, OCHE Andrea Opitz, Program Manager, OCHE

OCHE will submit renewal for College Access Challenge Grant in early July Best practices symposium for first-year participants late July RFP for new and renewal sub-grants released in early August Expectation of Regents that all campuses will apply