$ uccessful start

$uccessful StartMASFAA Conference

November 20, 2008Hyannis, MA

I subscribe to the following theory…

Don’t reinvent the wheel,

when you can steal the whole car!

John’s Top Ten Reasons to

Offer Financial Literacy

Workshops

10) Low credit scores result in higher interest rates on future mortgages, loans or credit cards and possible loan denial.

9) Indebted adults between the ages of 18 and 24 spend almost 30 cents of every dollar earned to REPAY DEBT.

8) Nearly 3 out of 4 college students believe it is acceptable to use credit cards for living expenses.

7) Over 60% of first year college students max out their first credit card within one year.

6) Over 25% of college students pay late fees.

5) High levels of credit card debt have been linked to psychological problems.

4) Rates of financial stress are significantly higher for minority and first generation college students.

3) Nearly 60% of 1st year college students report that “Financial Problems” interfere with their schoolwork.

2) The average student loan debt surpasses $20,000 and over $88,000 for Law Students.

1) Over 33% of college students graduate with $10,000 or more in credit card debt over and above student loans.

• Brainstorm

• Survey Student Body

• Early promotion of presentations to students

• Support from Administration

• Session topics

• Presenters

– External Partners (Vendors)

– Faculty and Staff

The Start to our Success

Topics for Sessions• Budgeting• Credit• Credit Cards• Debt Management• Student Loan Consolidation • Loan Management• Personal Finance• Investments• Career Counseling • Job Interviews

Campus Involvement

Student Organizations Athletics Residential Assistants Deans & Department Heads Student Development Dept. Freshmen Orientation Staff

Campus CommunicationPublic awareness by publishing

an article in campus newspaper read by Faculty and Staff.

Encourage the Student Newspaper staff to write an article about the $uccessful Start Program.

Post “Billboards” around campus for additional student exposure

Worried About Debt After College?

Are You Confused About Your Financial Future?

Are You Looking For Some Guidance?

BC’s Financial Literacy Program

Sponsored by the Office of Student Serviceswill be hosting

“Building your Financial Future”Tuesday, November 14

4 p.m. – 6 p.m.in Walsh Function Room

Join us for Food, Fun, and Prizes!The workshop is limited to 50 people

R.S.V.P. to successfulstart@bc.edu

$uccessful $uccessful StartStart

Logistics• Obtaining Classroom Space• Audio/Video Equipment• Pizza/Refreshments• Handouts• Evaluations• Give-a-ways• Classroom Aides

LibraryCreate a well rounded source of

information for your students.

A library with periodicals, magazines, relevant books on financial matters.

Have it located in Reference Section of your main Library.

TRIO PROGRAMS

• If your college or university has a TRIO program, effective August 2008, the New Higher Education Act requires by law that you must offer your TRIO students a Financial Counseling Program.

Educational Institutions Currently Providing Financial Literacy Program

Boston College California State Univ.Plymouth State Univ. Iowa State Univ.

Suffolk Un Law School Bowling Green State Univ.

Texas Tech Univ. The Ohio State Univ.

Univ. of Alabama Univ. of Georgia

Univ. of Minnesota Univ. of North Texas

Univ. of Pittsburgh Univ. of Virginia

Univ. of Washington Georgetown Univ. Law

New York Law School Virginia Tech

Valuable Web Sites• www.fdic.gov/consumers/consumer/moneysmart

/index.html• www.bc.edu/successfulstart• www.mastercard.com/us/personal/en/learningce

nter/index.html• www.cashcourse.org• www.jumpstart.org• www.studentdebthelp.org• www.creditcardnation.com• www.truthaboutcredit.org• www.temple.edu/sfs/budgeting.htm

Additional Web Sites• www.hughchou.org/calc/coffee.cgi• www.decisionpartners.org• www.nefe.org• www.choosetosave.org• www.ibrinfo.org/about.vp.html• www.mappingyourfuture.org/money• www.wsj.com/financialplanning• www.bankrate.com• www.annualcreditreport.com• www.practicalmoneyskills.com

The Money Conference for Women

• Massachusetts State Treasurer, Tim Cahill sponsors a program each year geared to women covering a myriad of financial information.

• www.themoneyconference.com

External Sources for Packaged Financial Literacy Programs

• www.decisionpartners.org

• www.fdic.gov/consumers/consumer/moneysmart/index.html

PowerPoint Presentations to consider

• North Texas State, a forerunner in promoting financial literacy on campus.

• The NASFA July 2008 Conference by the National Endowment for Financial Education another good presentation.

• Ed Fund has an great PowerPoint Presentation Go to their web site at www.edfund/BuildingFutures

Click away to some great informational screens.

PowerPoint Presentations

• For an electronic copy of any of these presentations email:

brownjo@bc.edu

Boston College Web Site

• The web site for our financial literacy program is located at:

• www.bc.edu/successfulstart

A penny in time saves nine or don’t spend more than you can

chew! Thank you for attending and helping secure the financial stability of our students.

John G. BrownBoston College

Student Services Lyons Hall Rm 111Chestnut Hill, MA 02467

Tel: 617.552.3370 Email: brownjo@bc.edu