Annual Report 2015-2016

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• Outstanding Financial Counseling and/or Planning Center of 2015

• 2015-2016 Outstanding Service Award from A. Ray Olpin University Union • One on one counseling increased by 119.6% • Volunteer Income Tax Assistance – VITA tax preparation program

o 1303 taxes completed o Tax preparation increased by 119.7% o 58 volunteers with a total of 1424 volunteer hours

2015-2016 Highlights

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• The IDA Matched Savings Accounts o 119 UofU students in program o Students saved $134,634 towards school, first home, small business o Community match to students = $403,900

“The IDA program was so much more valuable than the money it provided. Although the saving significantly lessened the financial hardships that come from higher education, the lessons on saving and budgeting will be with us forever. Thank you so much for allowing us to participate in the IDA program.”

- Joel and Caitlin Hancock and sons

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Table of Contents KEY ACTIVITIES FOR THE PERSONAL MONEY MANAGEMENT CENTER ................... 4

KEY ACTIVITIES ............................................................................................................. 6 1. STUDENT SUPPORT

a. ONE-ON ONE COUNSELING ........................................................................... 6 2. RESOURCES FOR STUDENTS .......................................................................... 11

a. MATCHED SAVINGS ACCOUNTS (IDA) ........................................................ 11 b. TAX PREPARATION (VITA) ............................................................................ 13

3. EDUCATION ......................................................................................................... 15

a. DEVELOP AND FACILITATE MONTHLY WORKSHOPS AND EVENTS ON CURRENT TOPICS ............................................................................. 15

i. SUMMARY OF TOTAL OUTCOMES: NUMBERS REACHED ........ 22 b. MENTORING AND TRAINING STUDENTS .............................................. 23

PLAN FOR THE FUTURE ............................................................................................... 24 STAFF EXCELLENCE .................................................................................................... 25

ADDENDUM NATIONAL STUDENT FINANCIAL WELLNESS STUDY – University of Utah

NATIONAL STUDENT FINANCIAL WELLNESS STUDY – General Findings with comparisons made to the University of Utah and Utah State University

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KEY ACTIVITIES FOR THE PERSONAL MONEY MANAGEMENT CENTER

Key Activities

Goals Goal Description Outcomes Assessment

Student Support

• One-on-one counseling

• Professional, competent and confidential

• Attracting students to the office for counseling, education and financial tools, join list serve and follow on social media

• Pre- and post- counseling surveys

Resources for Students

• Matched Saving Accounts

• Tax

Preparation

• Delivering financial education and assisting students to obtain $4500 grant

• Save students

money on tax preparation, claim tax credits and tax education

• Number of grant recipients, community reinvestment money, homes purchased, small businesses started, those who benefit with assistive technology

• Taxes filed, tax preparation money saved, tax credits returned, tax forms rejected, students certified, volunteer hours, quality

• Pre- and post- education surveys, tracking numbers of assets, savings and matched funds

• Tracking numbers and post surveys

Education • Developing And Facilitating Monthly Workshops And Events On Current Topics

• Mentoring And Training Students

• Develop, create, facilitate and partner to hold a variety of events and workshops centered on current financial topics

• Students working at the center

• Quality information and education presented geared towards student wants and needs. Numbers who participate and request topics.

• Student interns learn personal finance and office management, use center for their Capstone Class, become certified counselors, IRS certified tax preparers

• Gathered information from surveys of what workshops students want, numbers of attendees

• Certifications received, number of students to student meetings

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Staff Excellence

Present, Publish and Collaborate With Professional Organizations

Participate in conferences for peer- reviewed feedback. Share and embrace best practices

Affiliations and connections with like professional organizations, national recognition

Number of conferences, number of publications, affiliations

OUR KEY ACTIVITIES ARE INCORPORATED INTO THE FOLLOWING GOALS:

UNIVERSITY OF UTAH STRATEGIC GOALS 1. PROMOTE STUDENT SUCCESS TO TRANSFORM LIVES

2. DEVELOP AND TRANSFER NEW KNOWLEDGE 3. ENGAGE COMMUNITIES TO IMPROVE HEALTH AND QUALITY OF LIFE

4. ENSURE LONG-TERM VIABILITY OF THE UNIVERSITY STUDENT AFFAIRS BIG 5

1. STUDENT RECRUITMENT 2. RETENTION

3. GRADUATION 4. FIRST DESTINATION 5. STUDENT LEARNING

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I. KEY ACTIVITY

1. STUDENT SUPPORT

1. ONE-ON-ONE COUNSELING

Student debt levels and student financial stress are at record levels in our nation’s history, many people are unsure who to turn to and trust for guidance. Financial education has shown to have mixed results. While it can improve consumers’ knowledge, it does little to change behavior and assist in forming responsible habits. For students who what to learn more about paying for school and reducing their stress, it can be very overwhelming to know where to start. Our center meets those needs with counseling services.

Financial counseling is the foundation to a solid financial future. Research indicates that once individuals gain knowledge and resources through counseling and education, they can begin to prepare for their future and present needs, and meet their individual goals. Financial counselors and educators help move individuals and families along a path through behavioral adjustments.

Our center, staffed with professional and qualified counselors and educators, is able to help students through a variety of complex issues. We are equipped to navigate our students through financial crises such as credit and debt issues, creation of a financial survival plan for college, planning for tuition and fee payments, as well as work with students to develop and implement effective spending plans, eliminate debt, build savings and create meaningful solutions to maintain financial stability and reach the client’s financial goals.

a. Goals: Provide professional, competent and confidential counseling for student

success, retention and assistance in achieving lifelong financial health. • Our counseling services meet two of the University of Utah’s Strategic

Goals: 1) to promote student success to transform lives, and 2) develop and transfer new knowledge.

• Our counseling also directly meets four of Student Affairs Big 5 goals: 1) retention, 2) graduation, 3) first destination, and 4) student learning.

Student comments about counseling from surveys demonstrating goals met: • “Thank you so much for being willing and taking time to meet with me

today. I’ve felt very insecure in my finances due to not very reliable people supporting my financial foundation. However, things are turning around and meeting with you has helped restore some confidence in myself that I can do this!”

• “I just wanted to express my gratitude for spending an hour with me on Wednesday to discuss my financial wellbeing. I so appreciate your time and caring and knowledge. I have felt a sense of relief and

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empowerment since then, and I am excited to learn. I look forward to meeting with you again in a couple of weeks, but I just needed to tell you thank you before then. You are doing an incredibly important work.”

• “I am a rookie with understanding my finances, and talking about my financial situation is intimidating when I feel I know so little. But Ann made me feel comfortable and gave me some easy tasks that I can do to familiarize myself with my own financial situation.”

• “It is nice to have a monthly budget, which is something I haven't ever done before.”

• “Meeting with Ann was helpful, getting a good background, feeling supported and listened to, meeting with Tiffany was awesome. Thank you for all the additional time and tenderness. I feel stronger today thinking of my retirement and financial future and I finally have long-term goals in mind.”

• “Tiffany was incredible. I have never met someone so friendly, prepared and very informed of the resources I could utilize. I came in regarding a student budget and what was most beneficial was her taking me step by step, defining terms, providing me examples, emailing me good resources online and also suggesting apps that I could begin incorporating for my budget. In addition, she broke it all down and provided me an outline for future expenses.”

• “I left with my knowledge about my finances and overall felt better my financial situation.”

• “I did not feel judged and she showed me how a can manage my finances in a way that is suitable for my lifestyle. She shared personal examples that made understanding finances and how to make decisions for managing finances achievable.”

• “It was helpful reviewing options for budgeting for school as well as setting some solid goals and priorities for upcoming semesters.”

b. Outcomes: Attracting students to come to the office for one-on-one counseling and financial tools. Through our record keeping, surveys, and feedback for measures of reflection, we have evidence to conclude that our office is promoting students to transform lives though retention, graduation and long-term financial success.

c. Utilization Data: One hour one-on-one consultations =415

329 Students 86 Staff and Faculty 119.6% increase from FY 2014-2015

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Intake Survey: n=136 Students = 69.12%

Staff/Faculty = 26.47%

Freshman = 14.44% Sophomore = 23.33% Junior = 12.22% Senior = 8.89% Graduate = 41.11%

Female = 62.20% Male = 36.22% Other or prefer not to answer = 3.32%

How did you hear about us? Flyer, poster, other marketing = 58.89% A Presentation by PMMC = 4.44% Faculty/Staff = 32.22% Other = 17.78%

How comfortable do you feel managing your personal finances? Very comfortable = 7.69% Comfortable = 30.77% Neutral = 40.00% Uncomfortable = 18.46% Very Uncomfortable = 3.08%

Do you have a spending plan? Yes = 36.92% No = 56.15% Unsure = 6.92%

How important is the topic of personal finance to your experience as a student at the University of Utah? Very important = 72.22% Important = 24.44% Neither important nor unimportant = 3.33% Unimportant = 0.00% Very unimportant = 0.00%

Do you have emergency savings? Yes = 46.92% No = 48.46% Unsure = 4.62%

Do you know the interest rates you are paying (i.e. loans, credit cards, etc.)? Yes, on all accounts = 26.47% Yes, On some accounts = 44.12% No = 29.41%

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Race/Ethnicity

African/African American/Black Asian/Asian American Caucasian/White

Hispanic/Latino(a) Other Prefer not to respond

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Appointment Follow-Up Survey: n = 63 During my appointment, I felt heard, understood and respected.

Strongly agree = 85.71% Agree = 12.70% Neutral = 0.00% Disagree = 1.59% Strongly disagree = 0.00%

The style & approach of the Personal Money Management Center staff was a good fit for me. Strongly agree = 68.25% Agree = 23.81% Neutral = 6.35% Disagree = 1.59% Strongly disagree = 0.00%

The information I received was relevant to me and my personal financial situation. Strongly agree = 73.02% Agree = 25.40% Neutral = 1.59% Disagree = 0.00% Strongly disagree = 0.00%

I am more confident in my ability to understand my personal finances. Strongly agree = 58.73% Agree = 30.16% Neutral = 9.52% Disagree = 1.59% Strongly disagree = 0.00%

Overall, meeting with the Personal Money Management Center was a worthwhile experience. Strongly agree = 77.78% Agree = 19.05% Neutral = 3.17% Disagree = 0.00% Strongly disagree = 0.00%

I would recommend the PMMC to my friends/colleagues. Strongly agree = 77.78% Agree = 19.05% Neutral = 3.17% Disagree = 0.00% Strongly disagree = 0.00%

2. RESOURCES FOR STUDENTS

1. IDA MATCHED SAVINGS ACCOUNTS

Individual Development Account (IDA) is an asset building tool designed to enable low-income individuals and families to save towards a targeted amount usually used for building assets in the form of home ownership, post-secondary education and small business ownership. Utah developed an IDA program in 2004 where they will match savings contributions 3-to-1. A participant can save up to $1,500 and be matched with a $4,500 grant for a total of $6,000. While many students who participate in the program use the money for tuition costs, some do use their grants for a first time home

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purchase, starting a small business or purchasing assistive technology. The Personal Money Management Center at the University of Utah is committed to helping students gain the financial resources necessary to be successful in college or other qualified ventures. Since the Fall Semester 2011, we have taught at least one finance class each semester that becomes the entry for students into the IDA program. In these classes students learn financial basics of budgeting, investing, goal setting, risk management, credit and much more.

a. Goals: Assisting students with financial education to become qualified for the

$4500 grant. Our community partner, The Utah Individual Development Network (UIDAN) then works with the students to complete the saving program and to build assets and wealth. The majority of our students use their grant for tuition.

• This student resource and service meets all four of the University of Utah’s Strategic Goals: 1) to promote student success to transform lives, 2) develop and transfer new knowledge, 3) engage communities to improve health and quality of life, and to ensure long-term viability of the University.

• This student resource and service also directly meets two of Student Affairs Big 5 goals: 1) first destination, and 2) student learning.

Examples of the program’s success from our University students: • “Its 2 years from when I first took the class with one of my friends who I told

her and her husband to sign up, and they are buying a house. They each saved $1,500 of their own money and now they have $12,000 all together for a down payment! This fall was my first chance to actually use the money I had saved, guess what, it cost me $1,000 of my own saved money that I didn't even really miss at that point. The other $3,000 was paid for by UIDAN. 75% off tuition was way better than any shoe sale could ever be.” -Cassie

• “After reviewing my finances I discovered that if I did not have help, I would no longer be able to continue my education. A friend suggested that I check into the UIDAN program. The joint saving not only enabled me to continue my education, but has also taught me money management, and how to save." -E.M.

• “I think this program really changes some peoples’ lives. I know it made a difference for me. I think this is an amazing opportunity to minimize student loan debt. My goal was to make it through my undergrad without any student loans.” -Jane Maguire

• “Thank you for all you have done for us. Niko wouldn’t have been able to go to college.” -Bernadette (A note from a parent demonstrating the importance of offering this program on campus.)

• “The program was extremely valuable both in teaching monthly saving as well as assisting me to obtain my education. It was a wonderful experience.” -Emily Donaldson

Outcomes: Number of grants recipients, community reinvestment money, homes purchased, small businesses started, and assistive technology.

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b. Utilization Data: As part of the nature of the program, students can be saving for up to three years. The following is a time frame from September 2011 – July 2016:

• 339 people completed 8-hours of our personal financial classes o 81 course participants in FY 2015-2016 o 114 Savers have used IDA funds at UofU. o The Savers contributed $130,144 and the IDA funds contributed $386,519 o Total $516,663

• 70 are still in the IDA savings program o 7 saving for business o 32 saving for education o 31 saving for home

The program encourages people to save for their education, but also draws community asset funds in the match portion which then go to our institution. This program fulfills a vital need by helping our students pay for tuition and keeping them in school. This is a significant way our center is assisting with the University’s strategy for graduation and retention.

2. TAX PREPARATION (VITA) The Volunteer Income Tax Assistance (VITA) is a program that offers free tax help to individuals who make $52,000 or less. The program offers the assistance of IRS- certified volunteers to help individuals by preparing tax returns. These IRS-certified volunteers provide free basic income tax return preparation within local communities. These volunteers inform taxpayers about special tax credits for which they may qualify such as earned income tax credit, child tax credit, and school tax credits. VITA sites are generally located at community and neighborhood centers, libraries, schools, shopping malls, and other convenient locations.

The Personal Money Management Center has partnered with the IRS, Community Action Partnership of Utah (CAP), the University Union, the University’s Tax Services and Beta Alpha Psi (graduate accounting students at the University of Utah’s David Eccles School of Business) for the past five years to assist students. The training, certification, and tax preparation materials were supplied through the IRS. The business school provided tax volunteers. The University Union provided the tax preparation room. With this abundant cooperation between entities, we were able to assist a growing number of students needing help with their tax returns. Two staff members of our center certified to prepare taxes for non-resident students.

a. Goals: Save students and staff money on tax preparation, making sure they

claim their tax credits; promote practical life skills to assist students in becoming financially sound. Outcomes: Many taxes were filed and tax preparation money was saved. Tax credits were returned, and we prevented a number of tax forms from being

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rejected. There were a number of students certified, volunteer hours completed and the quality of our tax site was improved.

b. Utilization Data:

Average tax fees saved for student residents who do not want to do their own taxes

$53,690 (Using $130 charged by H&R Block)

Average tax fees saved to non-resident students who do not want to do their own taxes

$294,200 (Using $280 per student. H&R

Block charges $280 to $400 for International clients.)

Number of volunteer Tax Preparers 58 Number of Volunteer Hours 1424 Total Students Served 1303

Year of Filing Resident Student Non-Resident Student Total

2011 164 30 194 2012 207 165 372 2013 388 181 569 2014 393 242 635 2015 278 315 593 2016 413 890 1303

We kept track of numbers by posting surveys to collect each student’s information. From the data we collected, we plan on continuing to offer this service to students so we can help save students more money. By saving these students money, they are able to make use of their money towards important things such as their possible debts and consideration of graduate school. A significant improvement to our tax filing for international students was the use of a new software, Sprintax. Additionally, Tax Services & Payroll Accounting adjusted their procedures to better accommodate non-resident students. Over the years we have collaborated with the International Student & Scholar Services and the office of Tax Services.

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3. EDUCATION

1. WORKSHOPS, CLASSES, AND EVENTS ON CURRENT TOPICS We have regularly scheduled trainings where students can gather to learn about personal finances. This is our outreach to students across campus. It is a way to market our services and make students aware of our center. We create our own monthly workshops, visit course-credit classes, present at Welcome Week events, and table at a number of events during the year. We have created flyers and brochures to assist with the marketing of our center and services that we use mainly at tabling.

a. Goals: Develop, create, facilitate and partner to hold a variety of events centered

on current financial topics. • Meets two of University of Utah’s Strategic Goals: 1) to promote student

success to transform lives, and 2) develop and transfer new knowledge. • Also directly meets one of Student Affairs Big 5 goals: student learning

Student comments about workshops from surveys demonstrating goals met: • “Excellent info.” • “Great job! Very informative!” • “Great presentation. Gave me some great tips!” • “Informative. Interesting. Relevant content.” • “It was surprisingly helpful.” • “Engaging and useful.”

Outcomes: Quality information and education presented geared towards student wants and needs. We collected the numbers of students who participated and we collected requested topics for scheduling upcoming workshops. Workshop requests from fall semester are incorporated into our spring schedule.

b. Utilization Data: For the following section, the workshops, classes and events are broken down to give details of the activities and the outcomes. These assessments were done through follow-up or post surveys taken by students or staff attending the workshops. One big challenge we face is that we don’t or can’t get a workshop survey from all participants.

Monthly Workshops:

September 15, 2015 – Cut Your Grocery Bill in Half:

Tiffany Davis presented on smart ways to save money when grocery shopping, setting a budget and using coupons. We also partnered with the University of Utah Center for Student Wellness and had Kassy Keen present on making healthy food choices, avoiding convenience cooking and how to meal plan. Jessica Kailer developed a student cook book with quick, affordable, and healthy meals that was given out to students in attendance.

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• 53 attendees • 21 surveys returned • 15 females, 6 males • 14 international students • 7 grad students, 11 undergrads • Comments: “She has a great energy and is very charismatic. I always enjoy

coming to these seminars!”

October 21, 2015 – Financial Security: Investing, Saving & Short Term goals Two guest speakers from Northwestern Mutual spoke on investment basics. Specifically, students were taught how to create a budget and the importance of saving money towards retirements. Options like 401(k) savings and Roth IRA’s were discussed. The overall theme of this workshop was how to obtain financial security. This workshop really focused on goals like saving and investing towards future goals.

• 43 attendees • 22 surveys returned • 60% of attendees were females • 18 students & 6 staff members • More juniors were present

November 17, 2015: 7 Bank Accounts Every Student Should Have Jordan Page from TLC’S Extreme Cheapskates and blogger at funcheaporfree.com taught students about seven bank accounts every student should have. Jordan is very passionate about personal finance and is the queen of budgeting. She taught students how to use their bank accounts to plan for current and future expenses and how to create a budget to help achieve your goals.

• 36 attendees • 27 surveys returned • 100% survey respondents • 25 students, 2 staff • Mainly senior students • 78% attendees were international students • Comments: “I love the simplicity; great insight. Thank you!”

January 26, 2016 – Taking Control of Your Spending: Budgeting The University Credit Union presented at this workshop and gave tips to students about creating a spending plan and using online banking features to better manage their finances. Some of their tips included creating alerts on their accounts to remind them of their budget or when their balance is low and educated them on overdraft protection options. This was a great workshop for students on how to make the most of their bank to help them take control of their spending while they were in college. 34 Survey respondents

• 27 students, 6 staff • 71% were males who attended • 10 of respondents were seniors

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February 17, 2016 – What You Don’t Know About Credit Guest speaker, Bret Chadwick from Wells Fargo presented on what credit is, how it works, why it’s important, and what students should be doing to build good credit scores. He talked about the different credit scoring models and what things Wells Fargo looks at when approving loans. He also touched on the importance of having a budget and how that can be a good principle in starting to build and use credit responsibly.

• 32 attendees • Majority were female attendees • 28 students, 4 staff • 17 attendees were international students

March 29, 2016 - Consumer Protection workshop Professor Robert Mayer, from the Family & Consumer Studies Department taught students how to manage a personal budget, use credit cards and make wise consumer decisions. This workshop included advice on how students can protect themselves in their consumer behaviors under protective laws like The Credit Card Act of 2009.

• 16 attendees • 11 male, 5 female • 99% were students • Mainly juniors • Comments: “Excellent info, gave me a better understanding of the topic.”

Data from workshop questioners:

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Special events: August 27, 2015 – Welcome Week with Funny Money Man:

a. Goals: A one-hour presentation with James Cunningham, a comedian and host of the cooking channel’s “Eat St.” came to speak about budgeting and saving money wisely. The workshop purpose was to educate students on how to spend and save wisely. He offered a $200 cash giveaway as a way to get students excited about money

b. Outcomes: Students were provided with better knowledge and tips on how to save, spend wisely, and avoid debt while in college. This event was partnered with Career Services’ Job Fair and the University Federal Credit Union to serve free lunch for all attendees.

c. Utilization Data: Although there was no post or follow up survey taken, based on the turn out and amount of students that attended, it was noted that more students left feeling more excited with their finances. James Cunningham had also encourage students to come to the center, thus it helped advertise the center and has increased the number of students wanting to have counseling sessions. • 182 attendees

February 23 - 25, 2016 - “U” Saves Week

a. Goals: The Personal Money Management hosted “U Saves week” as a way to encourage and promote awareness of saving money as part of America Saves Week. The center and University of Utah partnered with 28 organizations throughout the community and throughout campus. We provided workshops with

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guest speakers including David Bach, who wrote the book “Automatic Millionaire”. Outcomes: Students were taught how to manage and save money. This was done through workshops that helped inspire them to better their lifestyle.

b. Utilization Data: We had a great turn out of students for the majority of U Saves week. Many had positive feedback on the workshops they attended. For example, in Mike Whitesides traveling on a budget workshop, a student noted: “I love that this was based on his personal experience, and he wasn’t just making plugs for companies”

Workshop Attendees

Start Smart, End Rich Workshop: David Bach 300

Travel Guru: Mike Whitesides 130 Credit Guru: Al Bingham 250 Total Attendees 680

April 12, 2016 -Women’s Week - $tart $mart Workshop

a. Goals: To prepare college women who are approaching the job market with the confidence, knowledge, and skills they need to negotiate salaries and benefits. This three and a half hour workshop is a partnership between American Association of University Women (AAUW) and the WAGE Project.

b. Outcomes: Students learned: 1. How the gender wage gap affects their lives 2. How to develop a personal budget to determine salary needs 3. How to benchmark salary and benefits 4. How to negotiate for their first salary out of college

c. Utilization Data: There were 17 participants among which over 10 different majors were represented. The range of education among the participants included anything from high school (GED) up to PhD’s or EdD’s. The overall participating race and ethnicity were Caucasian/white. On a scale from 1 to 5, most participants rated the workshop as 4 or 5. This reports that the majority of participants left feeling more confident on negotiating for their salaries.

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TRIO – Financial Classes June, 2015

a. Goals: This is a collaboration with TRiO to create a narrowly focused financial

education series for low-income first-generation students. Successful personal finance and budgeting incorporates a variety of choices every day. When students are equipped with tools and a knowledge base to make smart choices, their budget will benefit. Outcomes: TRiO is a program focused on helping low income, first generation college students’ transition into college. The program introduces the students to the possible resources and centers around campus as well as taking classes as a way to jump start their education. Our center had the opportunity to meet with these students this summer. We had a group size of roughly 10-15 TRiO students coming from high schools across the state. There were two workshops over the course of two weeks and each workshop was 1.5 hours long. The presentations covered the basics of paying for school (saving, grants, federal student loans, work study etc.) as well as general tips for surviving college. In the first workshop, we focused on the topic of savings, budgeting and money habits. We went over general budgeting strategies and handed out simple budget sheets that the students were able to fill out themselves. We also explored different money personalities and habits and went through an activity to help each student find out what kind of a money personality they have. In the second workshop, we focused on the possible ways a student can pay for college. This included the topics of scholarships, financial aid/grants, and student loans. It was noted that the students left with a positive feedback, including that they felt more confident towards their finances. Utilization Data: There were 15 students participating in the summer class.

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SUMMARY OF TOTAL OUTCOMES: NUMBERS REACHED

FACE to FACE Contacts

One-on-one counseling 415

Tax Prep with VITA 1303

Cut Your Grocery Bill in Half Workshop 53

Budgeting Workshop to International Students 142

Financial Security Workshop 43

IDA required classes 81

Budgeting Workshop 33

Banking Workshop 36

What You Don’t Know About Credit Workshop 32

Consumer Protection Workshop 16

Start Smart End Rich - U Saves Week 300

Travel Guru - U Saves Week 130

Credit Guru – U Saves Week 250

Greek Council Workshop 18

Life Skills Course to Freshman 10

SPE Presentation 25

Presentation to Connect2Health Volunteers 10

Presentation to Transfer Student Workshop 17

Parent Association Executive Committee Meeting 13

Campus Resources Introduction 12

YWCA in Salt Lake City 3

Football Financial Game Plan 50

Physician Assistant Program Student Loans, Saving, and Budgeting 60

New Student Orientation – 16 Presentations 212

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Welcome Week with Funny Money Man 184

Wellness Fair Presentations and Peer Mentoring 120

LDSSA Carnival 30

International Student Orientation 30

Total contacts 3628

Note: We usually do an accurate headcount. With a large group coming and going, we do a best estimate. TABLING EVENTS – dissemination of information about PMMC Business school event 122

New Student Orientation 345

Student Leader Training Resource Fair 70

Transfer Student Orientation 133

Plaza Fest 379

Total contacts: 1049 Note: We use a clicker counter on a smart phone

2. MENTORING AND TRAINING STUDENTS Goals: Student interns learn personal finance and office management. They are peer mentors, financial literacy interns, and/or use the center for their Capstone Class. Outcomes: Become certified counselors, become IRS certified tax preparers Certifications received, number of student to student meetings. Utilization Data:

Student Interns Position

Yu, Yunke Peer Mentor Wan, Olivia Peer Mentor Rodriguez, Melissa Peer Mentor Henderson, Scott Peer Mentor Brocious, Lauren Peer Mentor Chen, Kayleen Peer Mentor Bailey, Clare Peer Mentor Deng, Jaimie Financial Literacy Intern Kim, Hyun-Ah Financial Literacy Intern Park, Minna Financial Literacy Intern

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Carson, Megan Financial Literacy Intern Carver, Bailey Marketing Intern

II. PLAN FOR THE FUTURE (2016-2016)

One significant highlight from this year includes a national study we participated in facilitated by Ohio State University. The National Student Financial Wellness Study is a survey of college students which examines the financial attitudes, practices and knowledge of students from institutions of higher education across the United States. The purpose of the study is to gain a more thorough and accurate picture of the financial wellness of college students. It emphasizes five key topics; student loans, credit cards, financial behaviors, financial knowledge and education, and financial futures. See addendum for our University of Utah findings. One goal for the center is to assist with the President’s initiative of graduation and retention for students. In 2016-2017, we will begin to follow students who have completed the IDA savings program through their college career to track academic completion. This will add to our data of how the IDA matched savings program is working on our University campus. We will have data and hope to get stories from these student’s experiences. Another resource we offer is the tax preparation at our VITA site on campus. This coming school year we will work closely with the office of International Student & Scholar Services to keep data on our non-resident University population to learn more about those who utilize our tax services. With continued support from the University Federal Credit Union, $10,000 promised for staff and faculty in 2017, we will send out new flyers by mail to promote our counseling services.

Our vision and mission will remain unchanged, but this year we will emphasize the pledge in our mission statement to increase student success as a result of our national survey and President Pershing’s initiative. National data indicates that students are becoming more responsible for financing their own education. See graphic below. Our goals are to assist students with needed resources to help them plan for their upcoming semesters and tools to achieving lifelong successful financial outcomes. We want to get our students saving more money. Perhaps a campaign around:

“What are U Saving for?”

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Families pay less out of pocket for college as scholarships and grants cover more of the cost Average percent of total cost paid from

each source

https://www.salliemae.com/assets/core/plan-for-college/HAP-16-PIE1.jpg

Vision: Students attain financial competence and a means to achieve their life goals.

Mission: The Personal Money Management Center is committed to assisting students with their financial concerns. Our mission is to create a competent and confidential atmosphere where students can have access to accredited counseling services, quality financial education, and appropriate tools to attain success and satisfaction in their campus experience, as well as lifelong rewarding financial outcomes.

III. STAFF EXCELLENCE

a. Present, publish and collaborate with professional organizations. Participate in

conferences for peer-reviewed feedback. Share and embrace best practices. Affiliations and connections with like professional organizations, national recognition. Number of conferences, number of publications, affiliations.

b. Student Affairs Staff Excellence

34% scholarships and grants 5% relatives and friends 12% student income and savings 29% parent income and savings 13% student borrowing 7% parent borrowing

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STAFF AWARDS AND RECOGNITIONS House, Ann • Outstanding Financial Counseling and/or Planning

Center of 2015 • 2015-2016 Outstanding Service Award from A.

Ray Olpin University Union • Awards judge for the Association of Financial

Counselors Planners & Educators (AFCPE) • Endorsement from American Association of

University Women (AAUW) to teach $tart $mart

Davis, Tiffany • Certified as a Personal Finance Counselor w i t h A F C P E Yu, Kevin • Gained full-time employment as an accountant with Occupational Therapy at the U

Wan, Olivia • Gained full-time employment with Auxiliary Services at the U

Rodriguez, Melissa • Full-time employment at Goldman Sachs

Chen, Kayleen • Nominated "College of Social & Behavioral Science Student Group of the Year" 2015-2016

• Continued the following positions: Bennion Center's Student Board Representative & Service Corner Program Director; CSBS Student Ambassador

• Became the Executive Manager of the Student Chapter Leadership Team

• Advanced as a Financial Literacy Intern to a Peer Mentor + Manager at the PMMC

• Awarded the $4000 William L. Maybee & Travis L. Maybee Memorial Scholarship

• Awarded the $2000 Trudie Scholarship • Awarded $500 via Helping Hands Scholarship • Made Dean List Fall 2015 • Certified as a Wellness Advocate

Henderson, Scott • Received $2,500 Union Leadership

scholarship

Brocious, Lauren • Made Dean’s List Fall 2015 and Spring 2016 • Awarded the 2016-2017 school year FLAS

scholarship for the Korean language • Became an International Student Ambassador

Carver, Bailey • Dean’s list, Spring 2016

27

STUDENT AFFAIRS PRESENTATIONS AND PUBLICATIONS

House, A. C., & Goebel, Paul. (2016, June). Designing a Successful Student Money

Management Center through Assessment and Evaluation. The national Summit on Collegiate Financial Wellness. Columbus, Ohio.

Harrington, C., moderator. House, A. C. (2016, June). A Dialogue to Identify Practitioner

Research Concerns. The national Summit on Collegiate Financial Wellness. Columbus, Ohio.

STUDENT AFFAIRS FACULTY APPOINTMENTS

Name SA Department Position Academic Department House, Ann Personal Money

Management Center

Adjunct Instructor Family and Consumer Studies