1. Division of Undergraduate Studies 2016 Fall Conference
Presentation by Penn State Financial Literacy Center
Part of Money Counts: A Financial Literacy Series
Brad L Yeckley MBA PhD(C)
Penn State Financial Literacy Center
128 Outreach Building
University Park PA 16802

2. If money doesn’t grow on trees, then why do banks have branches?
An academic advisers guide to helping students become more financially literate.

3. Description/Learning Objectives
GETTING TO KNOW YOU
WHAT IS FINANCIAL LITERACY
ACADEMIC DECISIONS AND FINANCIAL IMPACT
RECOGNITION, REASSURANCE, AND RESOURCES
OPEN DISCUSSION AND QUESTIONS.

4. What brought you to this session? What has your experience been?

5. What is Financial Literacy?

6. What is Financial Literacy?
Knowledge
Financial Literacy
Actions
Behaviors

7. What is Financial Literacy?
100’s of Financial Literacy topics……..
What is an adviser to do?

8. What is Financial Literacy?
Budgeting
Using Credit
Financial Aid Eligibility
Student Loans
Education as an Investment

9. What Students are Facing.
Over 1 trillion dollars in student loan debt.
7.2% Unemployment 14.9% Underemployment (Economic Policy Institute, 2015)
Most state educational systems do not require Financial Literacy.
Higher costs of education, less money available.
Students don’t know, what they don’t know…..

10. What Students are Facing.
Students are unaware of their lack of knowledge

11. Academic Decisions and Financial Impact
“Financial stress is often brought up by students in advising, and rightfully so since finances play such a large part in their academic decisions. ” 

12. Academic Decisions and Financial Impact
Credit Loads

13. Academic Decisions and Financial Impact
Credit Loads

14. Academic Decisions and Financial Impact
Credit Loads
Aid Eligibility

15. Satisfactory Academic Progress
Academic Decisions and Financial Impact
Satisfactory Academic Progress
Aggregate Loan Limits
Min Credit Requirements

16. Resources and Opportunities
Academic Decisions and Financial Impact
Credit Loads
Aid Eligibility
Resources and Opportunities

17. Personal finance-related courses
Academic Decisions and Financial Impact
Personal finance-related courses
AYFCE 270 Consumer and Financial Skills
MATH 034 The Mathematics of Money
FIN 108 Personal Finance
Financial Literacy Center
Peer to Peer Counseling
Budgeting
Credit & Debt Management
Student Loans

18. Recognition, Reassurance, Resources

19. Penn State Financial Literacy Center
Recognition, Reassurance, Resources
Academic Advising
Penn State Financial Literacy Center
Through interactions with DUS academic advisers, students are guided to make well-informed educational plans and create the most meaningful educations for themselves by using Penn State's many resources.
DUS provides systematic decision-making tools, accurate and timely information, individual attention, and referrals when appropriate.
The Pennsylvania State University is committed to provide students with the resources needed to make informed decisions regarding their money management
The Pennsylvania State University financial Literacy’s mission is to provide students the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial wellbeing.

20. Recognition, Reassurance, Resources
More than 70 percent of students feel stressed in regard to their personal finances.
Only 30 percent of students reported participation in financial courses or events.
Financial stress lowers students’ academic performance. Furthermore, financial stress has been linked to students’ decisions to reduce their course loads, withdraw from college completely to pursue full-time employment, and increase time to graduation (Joo, Durband, & Grable, 2008; Letkiewicz et al., )

21. Recognition, Reassurance, Resources
Advisers are a first point of contact for students with high levels of stress. Financial or otherwise.

22. Recognition, Reassurance, Resources
Advisers are a first point of contact for students with high levels of stress. Financial or otherwise.
Many times students will self disclose sources of stress within conversations.

23. Recognition, Reassurance, Resources
Advisers are a first point of contact for students with high levels of stress. Financial or otherwise.
Many times students will self disclose sources of stress within conversations.
Reassurance is key.

24. Recognition, Reassurance, Resources
Advisers are a first point of contact for students with high levels of stress. Financial or otherwise.
Many times students will self disclose sources of stress within conversations.
Reassurance is key.
Comfort in resources that are available.

25. Recognition, Reassurance, Resources
Advisers are a first point of contact for students with high levels of stress. Financial or otherwise.
Many times students will self disclose sources of stress within conversations.
Reassurance is key.
Comfort in resources that are available.
Financial literacy is for everybody.

26. MoneyCounts: A Financial Literacy Series
Thank You!
Comments and Questions
Brad L Yeckley MBA PhD(C)
Penn State Financial Literacy Center
128 Outreach Building
University Park PA 16802