William Cavin SUNY Smart Track Program Coordinator SUNY System Administration.

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Presentation transcript:

William Cavin SUNY Smart Track Program Coordinator SUNY System Administration

An innovative and transparent system wide approach to promote awareness and understanding regarding college costs, college financing options and responsible student loan borrowing. SUNY Smart Track™ What is SUNY Smart Track?

SUNY Approach SUNY Smart Track Award Letter SUNY Smart Track NSLDS Pilot SUNY Smart Track Financial Literacy Website Smart Track Initiatives

Smart Track Award Letter All SUNY University Centers, State Ops and Community Colleges use the SUNY Smart Track Award Letter

SUNY Approach Smart Track NSLDS Pilot Pilot schools: SUNY Fredonia Niagara CCC Scheduled s during school year NSLDS First-time borrowers Embedded Links in messages

SUNY Smart Track Financial Literacy Website

SUNY Knows… The National Endowment for Financial Education (NEFE) High School Financial Planning Program (HSFPP) From a survey of 4,000 students from 188 high schools across the United States who had attended the HSFPP, researchers from the Universities of Minnesota and Wisconsin found that immediately following training… … half of the students reported increases in financial knowledge How important is Financial Literacy For Student/Life Success?

SUNY Knows… NEFE High School Financial Planning Program (HSFPP) Within three months after the training: 40 percent of the students reported that they had started saving money 31 percent reported that they had opened a savings account How important is Financial Literacy For Student/Life Success?

SUNY Knows… Gartner and Todd (2005) analyzed a randomized study conducted by the Saint Paul Foundation’s Credit Card Project that showed that online credit education led to responsible behavior (prudent credit card usage and spending patterns) among first-year college students Once short-run behaviors are changed, they translate into positive results in the long-run Moreover, research shows that financial literacy has the most impact on behaviors that are independent of an individual’s financial situation How important is Financial Literacy For Student/Life Success?

SUNY Knows… How important is Financial Literacy For Student/Life Success? SUNY Smart Track Financial Literacy is a value added service provided to all SUNY students as part of their SUNY experience Keeping students engaged promotes retention and increases completion rates Students who complete have financial literacy provided are more likely to become successful student loan repayers - regardless of the amount borrowed

SUNY Knows… SUNY is all about STUDENT SUCCESS How important is Financial Literacy For Student/Life Success?

SUNY Smart Track Financial Literacy Website Smart Track Financial Literacy Website

Smart Track Financial Literacy Website (school websites) All SUNY University Centers, State Ops and Community Colleges are linked to the SUNY Smart Track Financial Literacy Website

SUNY Knows… Get On The Right Track… Congratulations Kahlil Mack from the University of Buffalo… the Number 5 pick overall in NFL Draft goes to the Oakland Raiders!!!

Questions?