2. Financial Literacy A Model That Works Presented by Christina Rose, Discover Student Loans Julie Finn, First Marblehead ILASFAA 2014

3. http:// www.youtube.com/watch?v=Qb8hTzUoI54

4. Why do we care? Just as it i s proven to be impossible to succeed in the modern world without the ability to read and write (literacy), so it will be impossible to succeed in the present-day financial system without knowing the ABC s of economics and finance (financial literacy). -Annamaria Lusardi

5. Survey Results

6. We care because… If you develop a good financial habit, it will last a lifetime and it will make life easier in all kinds of ways. On the contrary, if you get a bad financial habit…it can ruin your life; it hurts marriage, it hurts health… [so] it is really important to get it right early -Warren Buffet

7. http://www.nerdwallet.com/blog/2013/financial-literacy-quiz/

8. Hurdles Unrealistic expectations -Baby steps -Resources Assumption of One Size Fits All Model Inability to control circumstances outside of Financial Aid Office Student Attendance

9. Where do you start? Appoint a person/committee to be in charge Establish goals and mission early (Budgeting / Borrowing / Repayment) Research your options Identify potential partners in other departments, organizations, etc. Know your audience

10. Things To Consider What is the financial literacy knowledge level of your student population? Do specific populations need to be targeted? What format or program design best suits the needs of your student population and the goals of your program? What are your top priorities of the program?

11. What options are out there? 3 rd party programs for a cost Lender & servicer resources at no cost On-line resources Other departments on campus Religious & community outreach programs

12. What are other schools doing? Orientation programs 1-2 credit required courses Money Management section on website Financial literacy presentations Programming in conjunction with other departments Peer money mentors Individual Counseling

13. Examples of School Programs University of Minnesota http://onestop.umn.edu/finances/manage_money/live_like_a_student/index.html DePaul University http://resources.depaul.edu/financial-fitness/Pages/default.aspx Bowling Green State University http://www2.bgsu.edu/offices/smms/ Hamline University http://www.hamline.edu/financial-literacy/ Western Illinois University http://www.wiu.edu/student_services/financial_aid/tools/ Northwestern University http://undergradaid.northwestern.edu/help/money-management.html

14. Resources Department of Education Tools –FACT Tools - http://studentaid.ed.gov/about/announcements/factFACT Tools - http://studentaid.ed.gov/about/announcements/fact –NSLDS - http://www.nslds.ed.gov/nslds_SA/NSLDS - http://www.nslds.ed.gov/nslds_SA/ FinAid –Student Budget Calculator http://www.finaid.org/calculators/studentbudget.phtml http://www.finaid.org/calculators/studentbudget.phtml Cashcourse.org MyMoney.gov