1. “Sensible Strategies: A financial literacy program with impact.” Nathan Ernst, M.Ed. Director of Student Financial Services Midwestern University 1

2. 8 programs – Downers Grove Campus  Dental  Medical  Pharmacy  Health Sciences: 5 programs 12 programs – Glendale Campus  Dental  Medical  Optometry  Pharmacy  Health Sciences: 8 programs Total Enrollment – 5,100 for 2011 - 2012 2

3. UNIVERSITY-WIDE SUPPORT  Support from Board of Trustees and University Administration  Campus-wide support from other departments  Increased funding levels 3

4. RESOURCES  Current staff  Peer Counselors through Federal Work-Study  Other campus units/faculty and staff  Outside resources [guarantors, servicers, others - paid or unpaid] 4

5.  Admissions and Orientation Presentations  Armed Forces Day  Budget Workshop  Couples and Finances Workshop  Financial Experts Forum  Loan Repayment Workshop  Managing Your Loan Portfolio Workshop  Mid-Point Presentation  Real Estate Basics Workshop 5

6. Managing Your Loan Portfolio Workshop 6

7. Peer Financial Counselors 7

8. Budget Workshops 8

9. Mid-Point Presentations 9

10. Armed Forces Day Financial Experts Forum 10

11. Couples and Finances Real Estate Basics 11

12. COMING ATTRACTIONS 2012- 2013  Budget Webinars  Credit Basics Workshops  Small Group Sessions – Exit Counseling  Pre-orientation webinars for new students – Spring 2013 12

13. PGPresents Services  Short informational videos  Customized listservs  Repayment primers  Toll-free one-on-one assistance with repayment questions 13

14.  Designed to emphasize “Best Practices” in minimizing debt and demonstrating solid efforts in an essay  Four scholarships on each campus  One $5,000  Three $2,500  FINANCIAL LITERACY SCHOLARSHIPS 14

15. FINANCIAL LITERACY SCHOLARSHIPS Essay factors evaluated:  Active financial planning efforts  Living frugally or modestly while at MWU  Demonstrated efforts to minimize debt More than 100 applied between both campuses in Spring 2012 15

16. Midwestern University Impact MWU has seen on students – 2012 research project 16

17. Research questions and methodologyReview of research resultsConclusions and RecommendationsThe impact of these programs on studentsNext steps 17

18. Research Questions How and to what extent does participation in financial literacy programs influence financial decision-making among students at MWU? 18

19. Research Questions Secondary questions-how does participation influence students’  borrowing  decisions on budgeting and spending money  Paying interest on student loans while in school  credit card usage 19

20. Methodology Mixed Methods Design Sample population Quantitative research Qualitative research 20

21. Variables Studied Student loan borrowing and paying the interest on student loans Budgeting and spending Use of credit cards Overall financial decision-making Number of financial literacy sessions attended 21

22. Results and Impact Participation in financial literacy programs did influence financial decision-making. Students attending one or more sessions have lower overall monthly budgets. 22

23. What does all of this mean? Aha 23

24. Conclusion This study validates the need to continue and expand financial literacy efforts, and encourage or require students to attend more sessions. 24

25. Next steps for MWU Require more mandatory financial literacy sessions Increase marketing efforts Capitalize on support from University administration Develop additional targeted efforts for each program 25

26. Thanks for coming! 26