Dwight HorseyMillersville University

"Financial literacy" is the understanding of basic concepts of money◦ Necessary skills to handle personal finances◦ During a lifetime

Concepts include◦ Budgeting◦ Saving◦ Funding college◦ Buying a home or an automobile◦ Percentage rates on credit cards◦ Planning for retirement

To the student

To the family

To the institution

Discouraging credit card companies on campus

Freshmen Year Experience

Workshops, websites, on-line courses, videos, on-demand media

Staff dedicated to debt management

Most students don’t budget their money

They are concerned or very concerned about money

Most own a credit or debit card

They try to save money but find it difficult

Most students don’t like loans but take them out anyway.

Upper classmen more concerned about loans than Fr. or Soph.

Clothes, rent, food, and car insurance are the top expenses.

Most make enough money to meet their needs.

Relationships

Familiarity with services

Don’t check the web

Mom, Dad or no one

Develop relationships with students

Put as much info out as Possible

Explore other options

Suggestions ?

Credit Card Use by College Studentscontributors; Frances C. Lawrence, Alumni Professor, and Jennifer J. Burczyk-Brown, Former Research Associate, School of Human Ecology, LSU AgCenter, Baton Rouge, La.; Rebecca C. Christofferson, Former Graduate Student, Department of Experimental Statistics, LSU AgCenter, Baton Rouge, La.; Sheri R. Fair, Extension Agent, LSU AgCenter, Gonzales, La., E. Barry Moser, Professor, Department of Experimental Statistics, LSU AgCenter, Baton Rouge, La.; Jeanette A. Tucker, Associate Professor, School of Human Ecology, LSU AgCenter, Baton Rouge, La