COHEAO Releases Financial Literacy Awareness White Paper
Prepared by: Wes Huffman (whuffman@wpllc.net)
A new publication from COHEAO, “Financial Literacy on Campus: Raising Awareness, Creating and Developing Programs, and Improving Effectiveness,” is now available for members. The full paper and additional information are available through this link.
“Financial Literacy on Campus: Raising Awareness, Creating and Developing Programs, and Improving Effectiveness,” chronicles the growth and development of two financial literacy programs out of the student loan and student financing services offices at two COHEAO members, Duke University and the University of Illinois. This project was spearheaded by Carl Perry, Senior Vice President with Progressive Financial Services, Inc. and the Financial Literacy Task Force Chair, who provides the introduction to the paper which emphasizes the importance of the issue and the potential return on investment (ROI) for all stakeholders in the higher education community.
Irene Jasper, Director of Student Lending at Duke University chronicles the creation of the “PersonalFinance@Duke” program and Andrea Pellegrini, Assistant Director of University of Illinois’ Student Money Management Center (SMMC), reviews how University Student Financial Services & Cashier Operations (USFSCO) at the University of Illinois targets its limited resources to provide these services to the students who may need them most. Kris Alban of iGrad, also a member of the COHEAO Financial Literacy Task Force, highlights three key variables for making financial education programs effective, while COHEAO’s Wes Huffman examines the federal role on this important issue.
In addition to reviewing the two campus programs and offering insights on improving financial education on your campus, the COHEAO Financial Literacy Awareness White Paper provides a listing of numerous websites and books to assist you in the development of financial literacy programs at your campus or organization.
Though COHEAO’s foundations lie with the campus-based Perkins Loan Program, the original Federal student loan program which remains to this day, many of our members are involved in multiple activities assisting students in managing all of their student debts and other activities related to personal finance. The creation of the COHEAO Financial Literacy Task Force was the natural outgrowth of the evolving nature of our members’ responsibilities at their campus or organization.
Through this Task Force, COHEAO has offered a multitude of training opportunities on financial education topics (both in-person and online) and convened five meetings at our national conferences. If you are interested in becoming a part of the COHEAO Financial Literacy Task Force, please contact Carl Perry (cperry@progressivefinancial.com) or Wes Huffman (whuffman@wpllc.net).
The Financial Literacy Task Force will hold its next in-person meeting at the COHEAO Annual Conference. In addition, the authors of this report will offer a presentation during the conference’s general session. Click here to learn more about the COHEAO Annual Conference.
