COLLEGE SUCCESS
THROUGH
FINANCIAL LITERACY
Tim Hagan and Gretchen Holthaus
Office of Student Success
Financial Literacy Project
Wichita State University
Who Are We?
u 
The Financial Literacy Project at Wichita State
University has been funded by a College Access
Challenge Grant since 2011.
u 
We are not allowed to charge money for any
services.
u 
No Trial Memberships, Bank Account Numbers,
Credit Cards, etc.
We’re FREE.
Let’s Chat
u  Is
“College” worth the price?
u  Do
Enough Students Graduate?
u  Do
Students know how to find a
College they can Afford?
u  Do
Students know how to Manage
Money?
u  Can
they Learn more?
u  Can
You Help?
THE $ VALUE OF EDUCATION
Didn’t Graduate
While nearly 70% of
high school students
enroll for college…
…just 59% of
them will
graduate college
in 6 years
WHAT BARRIERS
ARE IN THEIR WAY?
WHEN YOU ASK CHIEF ACADEMIC
OFFICERS, THEY CITE:
1. LACK OF ACADEMIC
PREPAREDNESS
2. ADEQUACY OF PERSONAL
FINANCIAL RESOURCES
Habley, W., Valiga, M., McClanahan, R., & Burkum, K. (2010). What works in student
retention 2010 Study: Public Four-Year Colleges and Universities. Iowa City: ACT.
RETENTION INITIATIVES
Academic
Preparedness
Financial Resources
u 
97% of colleges offer
tutoring services
u 
83% have pre-enrollment
financial aid advising
u 
90% have a writing
center/lab
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63% give short-term
loans
u 
84% have a library
orientation
u 
53% of universities
report providing money
management workshops
to their students
Habley, W., Valiga, M., McClanahan, R., & Burkum, K. (2010). What works in student
retention 2010 Study: Public Four-Year Colleges and Universities. Iowa City: ACT.
WHAT’S THE
SOLUTION?
• 
Academic Advisers help develop
your Academic Plan
• 
A Financial Plan helps you
achieve your Academic Plan
FREE ONLINE RESOURCE
MyCollegeMoneyPlan.org
o  Personalized
o  Realistic
o  No
advertisements
o  Free
to everyone and
developed for current or
college-bound students
Stafford Loans are 4.66% APR
for the 2014-15 school year
Monthly Payment
for 10 Years $233.34 $298.11 $313.37 Minimum Salary Needed $28,000 $35,773 $37,604 $516.28 $61,954 PART 1 OF THE ONLINE COURSE
ISN’T JUST ABOUT THE MONEY
u  Touches
on other success factors
• 
Getting involved
• 
Picking a major
• 
Time management
• 
And more
Part II
u 
Financial Goals
u 
Importance of Checking/Savings Accounts
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Measuring and Tracking Income and
Expense
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Getting More for Your Money
u 
Loans, Debt
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Credit Reports and Scores
u 
Identity Theft
INTEREST RATE/FEE COMPARISON
Total Interest Paid in 1 Year on a $1000 Loan Balance
$4,500
$4,000
$3,500
$3,000
$2,500
$2,000
$1,500
$1,000
$500
$0
$3,900
Debt that may be necessary
Debt to Avoid
$2,640
$3,000
$1,400
$50
$69
$180
Mortgage
Car or
Student
Loans
Credit
Card/
Finance
Company
Rent to
Own
Auto Title
Loan
Payday
Line of
Credit
PayDay
Loan
TEACHING RESOURCES
u 
Lesson Plans
u 
Assign Modules
u 
Track Student Progress
u 
Quiz Questions
Available via Email
STUDENT MONEY MANAGEMENT
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Ways to implement financial education
into existing programs
u 
Introduction to the University courses
u 
Orientation
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Money Management Workshops
u 
Career Fairs
u 
Office for Student Money Management
QUESTIONS?
COMMENTS?
FURTHER INFORMATION
u  Email
- [email protected]
u  Twitter - @CollegeCostTips
CONTACT US
316-978-3254
[email protected]
Twitter: @WSU_OSMM
Facebook: Office for Student Money Management
Skype: WSUOSMM