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"Some college administrators seem so distracted with fund raising, academic infighting, and community initiatives that they set up their emergency communications departments very poorly. Training is poor to nonexistent, secretaries are pressed into service with tremendous responsibilities for running 'notification systems' 24/7 and on weekends because no one else knows how to do it and the administration won’t pay for additional staff. Procedures are seat-of-the-pants and dependent on HIPPO (highest paid person’s opinion), except when something like Virginia Tech happens and there is some sort of scramble to do something different." --Donna
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The two were among five that houses on property where the university plans to build new academic facilities.
New Allegations in Admissions Controversy at U. of Illinois Suggest Ex-Provost Played a Role
Linda P.B. Katehi, the incoming chancellor of the University of California at Davis, has insisted she knew nothing of the admission of politically connected applicants at Illinois.
Sonoma State U. Foundation May Lose $350,000 on Loan to Former Board Member
The foundation will be forced to issue fewer scholarships in the 2010-11 academic year because of a diminished endowment, a university official said.
Court Overturns $2-Million Verdict for Former Coach at U. of Louisiana-Lafayette
The coach, one of the few African-Americans in big-time college football, was fired after three losing seasons. He sued, saying he had been dismissed because of his race.
The notorious vermin have forced Colorado State University at Fort Collins to cancel its annual Great Sofa Roundup, which allows students to donate unwanted couches.
College Suspends Student for Working in Gay Pornography | 58
President Obama's Visit to Notre Dame Carries Barely a Hint of Controversy That Preceded It | 58
Drug Sting Nabs 21 Students at U. of Illinois | 57
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September 9, 2008
Financial Literacy's Profile Rises on College Campuses
Financial-literacy training is gaining ground on college campuses, according to a survey released today by Student Lending Analytics, a college advisory firm.
Nearly 40 percent of financial-aid administrators surveyed said their colleges provided financial-literacy training to students. Of those who said their colleges did not offer such a program, half indicated the institution planned to start one in the next 12 to 18 months. Only 15 percent of respondents said that financial-literacy programs at their colleges were mandatory for students.
The most popular topics covered in such programs were budgeting, planning for loan repayment, credit cards, identity theft, and understanding a credit report, according to the survey, which covered 200 financial-aid professionals and was conducted from September 3 to 5.
Almost 90 percent of respondents said such training was handled by the financial-aid office on their campus. Most respondents said their college trained with financial-literacy content developed in-house, though 38 percent used materials from guarantors and 16 percent used materials from lenders. —Beckie Supiano
Posted on Tuesday September 9, 2008 | Permalink |Comments
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At our institution, we are taking a slightly different tactic. As opposed to a focus on debt management, we have created a prototype to ask students to think about the present value calculus of increased investment (both financially and motivationally) in their education. — Dan
— Daniel R. Lofald, PhD Sep 9, 04:11 PM #
This is an excellent start, and I hope to see a continuance of this pattern both at the college level and in high school.
There is a not-for-profit organization here in Denver whose mission it is to educate the public about financial planning and financial literacy concepts.
The organization is NEFE (National Endowment for Financial Education), and one of their initiatives is to bring financial literacy into high schools.
There are also approximately 200 undergraduate and graduate programs in the country providing majors in personal financial planning. Granted, these programs ostensibly teach students how to become comprehensive financial advisors; however, the programs didn’t exist 15-20 years ago (with a few exceptions) – so I’m gratified to see the spread of this type of teaching.
— Dr. J Sep 9, 04:37 PM #
Dan,
I would be interested in how many of your students understand the “present value“calculus (calculation?) you are explaining to them. I am an MBA and find it very difficult to explain this concept to the administration and faculty leadership much less an 18 – 20 year old student who is getting their very first loan.
I would love to see your prototype.
— mjh Sep 10, 08:20 AM #
The thing that concerns me about these findings is that so many schools rely on lectures that are likely to be ineffective at getting students to change their behavior. My organization (www.decisionpartners.org) takes a prevention-based approach that’s customized to each student’s assumptions and expectations about money. Most of today’s financial literacy education efforts remind me of the brochure/lecture-based alcohol education programs from the early 90s – well intentioned, but not effective. If fact, most programs today offer no assessment of attitudes and behaviors unfortunately.
— Austin Jackson Sep 10, 03:13 PM #