DOLLARS AND SENSE SASFAA 2008 CONFERENCE

  • View
    288

  • Download
    3

Embed Size (px)

DESCRIPTION

 

Text of DOLLARS AND SENSE SASFAA 2008 CONFERENCE

  • 1. DOLLARS AND SENSE
    • SASFAA 2008 CONFERENCE
  • February 17-20
  • Crystal City, Virginia
  • Brad Barnett
  • Senior Associate Director
  • James Madison University
  • Office of Financial Aid & Scholarships
  • Harrisonburg, Virginia

1 2. JAMES MADISON UNIVERSITY

  • Approximately 17,000 students, of which 15,500 are undergraduates.
  • Primarily 18-21 year olds who graduate high school, enroll full-time in college, and complete college in an average of 4.2 years
  • 81% graduation rate (ranks 16 thnationally for schools our size, 10,000 18,000 students)
  • Male = 39% & Females = 61%
  • In-state = 71% & Out-of-state = 29%
  • Minority students = 11%

3. Office Mission Which Way Are You Going?

  • Mission Statement
  • Set of values/goals
  • These can be very important to determining exactly what type of service you want to provide(share with staff, not just the director)

4. JAMES MADISON UNIVERSITY MISSION STATEMENT

  • We are committed to preparing students to be educated and enlightened citizens who will lead productive and meaningful lives.

5. JMU Office of Financial Aid & Scholarships

  • Mission Statement:
  • W e will ASSIST with identifying and obtaining resources to finance higher education; DELIVER funds in a timely and equitable manner; and EDUCATE, so that informed financial decisions can be made.

6. CODE OF VIRGINIA

  • 23-9.2:3.5. Education programs on economic education and financial literacy.
  • Virginia public colleges and universities shall make provisions for the promotion of the development of student life skills through the inclusion of the principles of economics education and financial literacy within an existing general education course, the freshman orientation process or other appropriate venue. These principles may include, but need not be limited to, instruction concerning personal finance, such as credit card use, opening and managing an account in a financial institution, completing a loan application, and managing student loans; consumer rights and responsibilities; and debt management.
  • The State Council of Higher Education for Virginia shall also encourage private colleges and universities to include such principles as part of their student orientation programs.
  • (2005, c. 741.)

7. DOLLARS AND SENSE (3 credit hour financial literacy course)

  • Review of Syllabus:
  • TEXT & MATERIALS
  • COURSE DESCRIPTION
  • COURSE INTENDED LEARNING OUTCOMES
  • COURSE FORMAT
  • COURSE CONTENT (Lessons covered)
  • COURSE EXPECTATIONS
  • COURSE GRADING
  • COURSE ASSIGNMENTS
  • COURSE SCHEDULE

8. WHERE WE PITCHED IT

  • Student Focus Group
    • Very supportive
  • General Education
    • Cluster Fit & Multiple Sections
  • College of Education
    • Referred
  • College of Business
    • Credentialing/ownership
  • College Student Personal Administration (CSPA) Program
    • Structured Programdelete a course to make room for this
  • Orientation
    • Time issuesfull schedule
  • Presidents Office
    • Four individualssupportive, but?
  • College of Graduate and Outreach Program (SUCCESS!)
    • Registration challenges

9. ADVERTISING

  • JMU website
  • Athletics
  • Career and Academic Planning
  • Presidents Office
  • Previously mentioned departments
  • Local television station
  • High School system
  • High School Counselor workshops (VASFAA and JMU)
  • Brochure
  • E-mail

10. TEXT & MATERIALS

  • The Lampo Group (Dave Ramsey)
    • Ramsey, D. (2003)Financial Peace Revisited .New York: Viking.
    • Next Generation Workbook
    • Dumping Debt Audio CD
    • Cash Flow Planning Audio CD
    • Personal Finance Software
  • Dollars and Sense is not a Dave Ramsey courseits it a JMU course
  • The Ramsey materials were the foundation of the textual materials, but supplemental information was also used

11. COURSE DESCRIPTION

  • This practical course will review the affect a personal philosophy on money, influence of societal expectations, and management of personal finances, has on all aspects of life when it comes to securing the American Dream.Students will learn real life skills in the areas of eliminating debt, creating a budget, understanding investments and insurance, saving money, planning for retirement, shopping for a house, and other topics dealing with financial issues faced in daily life.

12.

  • This course is based upon:
  • A study of chapters in the textbook.
  • The reading and completion of supplementary in-class and out-of-class workbook and reference materials.
  • Students will be required to keep a weekly journal, develop a written financial budget, and perform other written assignments.
  • The in-class viewing of pertinent videos.
  • Lectures, in-class discussions, a mid-term and a final examination.

COURSE FORMAT 13. COURSE CONTENT 1

  • Super Savers
  • Reviews the societal influences on spending and saving habits, the affect our emotional development has in this area, discusses savings from a historical perspective, and teaches discipline, patience, and goal setting.
  • Cash Flow Planning
  • Focuses on the importance of budgeting and challenges students to determine what can be classified as essential and non-essential expenses for them.The incorporation of planning for short term and long goals as they relate to needs and wants is also part of this lesson.

14. COURSE CONTENT 2

  • Relating with Money
  • Students will learn how individuals and families relate with money, how emotions affect our purchasing decisions, and the role our personal and family values play on how we spend and save our money and the overall quality of our relationships.
  • Big, Big Bargains
  • Students will discover the benefits of negotiating and the cultural differences that exist in this area.

15. COURSE CONTENT 3

  • Dumping Debt
  • Debt is often acquired due to a lack of emotional maturity when it comes to spending (e.g., impulse shopping, etc.), poor planning skills, and/or succumbing to societal expectations of what the American Dream should be for everyone.Students will learn about these influences as well as discuss methods for eliminating current debt and avoiding future debt.
  • Understanding Investments
  • The basic terminology of investing, compounding interest, and a variety of investment methods appropriate for specific goals will be discussed.Students will be given tools to calculate compounding interest.

16. COURSE CONTENT 4

  • Understanding Insurance
  • The various aspects of acquiring physical and emotional security by having the right type of insurance for your situation will be reviewed in this lesson.
  • Retirement and College Planning
  • The importance of goal setting and long range planning to ensure you are adequately prepared for retirement and future college expenses will be reviewed, as well as the multitude of options available to save for these situations.

17. COURSE CONTENT 5

  • Buyer Beware
  • The psychology of spending, marketing, and succumbing to personal desires when it comes to purchasing to make yourself happy will be discussed.
  • Real Estate and Mortgages
  • Reviews the buying, selling, and purchasing aspects of securing a home, including the influence others may have on the choices we make.

18. COURSE CONTENT 6

  • Career and Extra Jobs
  • The importance of creating personal missions statements and setting goals as they relate to developing a career path in a vocation that will provide you the highest level of satisfaction is at the core of this lesson.
  • Collection Practices and Credit Bureaus
  • Students will learn about debt collection practices, gain knowledge about credit bureaus, and learn how to read a credit report.

19. COURSE EXPECTATIONS

  • Read materials
  • Participate in class discussion
  • Complete class assignments
  • Attendance is mandatory for a grade of A
  • Be respectful of your classmates

20. COURSE GRADING