Personal Financial Management for Students

1
Personal Financial Management for Students

• Jonathan Eichten
• Office of the Chancellor
• Hope Doerner
• Minneapolis Community and Technical College
• Ericca Richter-Maas
• Federal Reserve Bank

2
Timeline

• July, 2007 State legislation mandated MnSCU
  provide personal money management information to
  students
• September, 2007 A brochure and a website were
  created to help campuses with legislation

3
Campus Survey

• All system campuses are providing financial
  management information to new students.
• Most are providing the information at
  orientation, registration, or both. 13 campuses
  are emailing information, including web links, to
  students.
• Identification of best practices (next page)
• Identification of best web sites (following)

4
Best Practices

• Personal Money Management Workshops
• Integrate into curriculum (encourage faculty
  through CTL, counselors, teaching circles,
  vice-presidents)
• First Year experience
• Student success day
• Parent orientation sessions
• Student loan entrance counseling
• High school connections (e.g. Upward Bound,
  Perkins)

5
Web Sites

• www.annualcreditreport.com
• mappingyourfuture.org/Money/
• www.handsonbanking.org
• www.mvelopes.com/overview/
• www.cashcourse.org
• www.onestop.umn.edu/finances/manage_money/
• www.lsc.edu/financialplanningFYE.cfm

6
Century College Approach

• http//www.gpslifeplan.org/century/finance/
• http//centuryworkshops.project.mnscu.edu/
• http//centuryworkshops.project.mnscu.edu/index.as
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