Page 29 - index

Research has repeatedly shown that success in college is the best 5. Mapping Your Future – educates students on responsible
predictor of whether students repay their loans, so an emphasis money management and student loan borrowing. Tere were
on student success is directly aligned with default prevention. 1,548 active online counseling accounts and almost 3 million
Additional counseling is needed for at-risk students, including web visitors in 2013.
high-volume borrowers and students facing academic difculties 6. $ALT – $ALT combines one-on-one loan counseling with
or taking the minimum number of required credits. interactive fnancial education tools. Used by 254 schools, has
Domonell (2011) identifed fve tried-and-true tips for getting detailed assessment tools.
started with a fnancial literacy program, including developing 7. TG HigherEDGE Default Aversion Solutions – a
a solid base of helpful web content; promotion; presenting comprehensive fee-based default management service that
fnancial literacy as a contributor to overall well-being; ofering assists in reducing an institution’s cohort default rate.
a variety of resources; and adding it to the curriculum. Wilke
(2013) found that content must be delivered in multiple formats 8. Transit EverFi – an online program for students in school
(videos, interactive games, online chats, podcasts, articles, and beyond. Several measurement tools provided.
etc.) to satisfy diferent learning styles. Te marriage of
technology and fnancial literacy brings greater integration of A STANDOUT ONLINE PROGRAM
social networking into program oferings. Peer-to-peer online Only one product met all key criteria and is ofered at no cost
communities and discussion groups ofer users a way to share to the institution or student: the CashCourse program from
information, questions, ideas, and advice, thereby allowing users the National Endowment for Financial Education (NEFE). Tis
to pass along what they have learned and gain mastery of the organization has no afliation with student loan companies,
subject matter (Wilke, 2013). lenders, or other fnancial institutions. Its mission includes
In a survey of 509 undergraduate students, Goetz (2011) partnering with nonproft organizations and government entities
examined three fnancial education methods (on-campus to provide fnancial education resources.
fnancial counseling center, online fnancial management CashCourse is the primary product ofered by NEFE to colleges
resources, and in-person educational workshops). Te results and their students. Te program is branded for each college with
showed that having taken a personal fnance course was the school logo, colors, and links to preferred social media profles.
positively associated with interest in all three delivery methods It provides unbiased, commercial-free content (no advertising)
with the strongest interest being online education. Today’s and customizable promotional materials. Multiple departments
students are increasingly comfortable with learning through on each campus can use the website. For Federal TRIO programs
technology, and they may also desire the greater fexibility of this (federal outreach and student services programs in the United
mode of pedagogy (Goetz, 2011). States designed to identify and provide services for individuals
from disadvantaged backgrounds) it provides a free, simple way
ONLINE PROGRAM OPTIONS to meet the Higher Education Opportunity Act (HEOA) fnancial
education requirements.
Fifeen online fnancial literacy programs were identifed and
contacted for information about products and services; costs; the CashCourse: Tools for Students
number of colleges, universities and students currently utilizing Six key areas of personal fnance are covered:
the program; assessment tools measuring program efectiveness;
and access for students afer they graduate or leave an institution. 1. Money 101 - banking, budgeting, credit and debit, insurance,
saving and goal setting.
Substantive responses were received from eight programs and
evaluated with respect to the previously described criteria and 2. Paying for Education - projecting expenses, repaying
with Saint Paul College in mind. Consideration also was given student loans, student loans, ways to pay, graduate and
to whether programs were developed by well-trained educators, professional degrees.
ofered vetted program materials, allowed for timely instruction, 3. Making purchases - getting around, housing, shopping
covered relevant subject matter, and provided evidence of and spending.
impact. Programs included: 4. Working and Earning - fnding a job, types of work,
1. CashCourse – a comprehensive website and program currently wages and benefts.
used by 835 colleges and universities. Provides assessment tools, 5. Money and Relationships - friends, family and money,
is available to graduates and parents, and is free. life decisions.

2. Financial Aid TV – ofers online video packages to assist with 6. Solving Problems - emergencies, fraud, income gap.
fnancial literacy and reduce the service burden on fnancial
aid departments. Ofers online viewing and usage metrics. Students also have access to a suite of fnancial interactive/
multimedia tools such as a budget wizard, coursework education
3. iGrad – provides a prescriptive approach focusing on peer-to- modules with pre- and post-test questions, featured videos,
peer education. Delivers career and job search support and is fnancial calculators, fnancial experts, fnancial glossary, text
used on several hundred campuses. message feature, quizzes and worksheets, and expanded content.
4. I nceptia Financial Avenue – self-paced with 10 courses Each student also has access to Te Financial Experts Wall (a
taking approximately 30-40 minutes to complete, and 10 question and answer portal stafed by a fnancial aid ofcer and
mini-modules taking 10-15 minutes with pre- and post-test fnancial planner) and My CashCourse Planner (including a
assessments. Used by 325 clients. customizable resource library and directory of assignments).

LEADERSHIP Vol. 20.3 Winter 2015 29

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