James Madison UniversityDollars and Sense

NCASFAA Spring 2012Conference

April 17, 2012Wrightsville Beach,

NC

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Approximately 20,000 students, of which 18,000 are undergraduates

Primarily 18-21 year olds who graduate high school and enroll full-time in college

Male = 40% & Females = 60% In-state = 73% & Out-of-state = 27% Minority students = 13%

James Madison University

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Mission Statement:We 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.

JMU Office of Financial Aid & Scholarships

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Dollars and Sense (will discuss more later) Faculty/Staff workshop series Workshops through various student organizations Workshops for parent groups Parent/Family Magazine articles Financial Literacy section of website (www.jmu.edu/finaid),

includes items such as:◦ CashCourse (NEFE)◦ PowerPoints◦ Budget case studies◦ Many others and more to come

Developing ecampus enhancements to assist with loan debt/repayment education

Approximately 700 people attend our workshops

Financial Literacy Efforts

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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 Program…delete a course to make room for this◦ Orientation

Time issues…full schedule (led to another program)◦ President’s Office◦ Outreach and Engagement (SUCCESS!)

Dollars and Sense

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Adult Degree Program (ADP) Bachelor’s of Individualized Study

designation course (IS 275) 3 credit hours Open to any student as an elective Monday, 2:30pm – 5:00pm

Outreach and Engagement

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Registration fills up after the first day Mostly graduating seniors Override requests are plentiful Holding class size at 25, but could easily run

multiple sections Students consistently request adding this

course to the GenEd curriculum

IS 275 Registration

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Foundations in Personal Finance College Edition (The Lampo Group)

Supplemental materials gathered from:◦ Self created◦ Bankrate.com◦ Family Economics & Financial Education (The University of

Arizona) at http://fefe.arizona.edu/◦ Security and Exchange Commission Office of Investor Education

and Advocacy at www.investor.gov◦ The Ten Commandments of Financial Happiness (Jean Chatzky)◦ Beyond Paycheck to Paycheck (Michael Rubin)◦ Extra Credit – The 7 Things Every College Student Needs to Know

about Credit, Debit & Cash (Bill Pratt)◦ The Millionaire Next Door (Stanley and Danko)◦ Personal Finance, Eight Edition, 2006 (Garman and Forgue)◦ Various other resources

Course Materials

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Students Watch video on Blackboard and complete

workbook assignment before class Submit weekly journal article Read the assigned chapter Complete weekly Chapter Test (take home) Participate in activities and discussions in

class, based on instructor created PowerPoint and other resources

Financial Plan is due the last class

Typical Class

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This is where you really learn what is on the mind of the student

You will see a progression of them identifying their issues and problem solving resolutions

You will witness their failures and successes They will validate what you do in the

classroom They will give you ideas of what to bring

into future classes Let’s look at a sample

Journals

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Let’s Review

It!

Syllabus

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In 2011-12 we began putting a student’s loan debt on the award notice

In 2012-13 we are working towards including the estimated monthly repayment amount

Financial Education Committee (Mission and S.W.O.T.)◦ Parent Relations◦ Orientation◦ College of Business◦ Health Center◦ University Business Office◦ Career and Academic Planning◦ Fraternity and Sorority Life◦ Student Government Association◦ Financial Aid

New Initiatives

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Contact InformationBrad Barnett, MS, AFC, CPFMSASFAA PresidentJames Madison UniversitySenior Associate Director of Financial AidE-mail: barnetbd@jmu.edu

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