Financial Literacy and Financial Aid

What is Financial Literacy?

There are many interpretations of the term "Financial Literacy" as defined by governmental and educational agencies.

In essence, the term Financial Literacy means that an individual has basic understanding of how to handle personal finances.

Personal finances include, but are not limited to:

• Resource options for Higher Education
• Loan options (e.g., mortgage, auto, and student)
• Banking (e.g., checking, savings, and investment accounts)
• Taxes (e.g., federal, state, and local)
• Insurance (e.g., health, life, auto, renters, etc.)
• Budgeting (e.g., income, expenses, and savings)
• Investing (e.g., types of plans offered by employers and to individuals)
• Credit card management
• Identity Protection (e.g, name, social security number, birth date, etc.)

In an effort to increase student understanding of personal finance, the Departments of Student Enrollment Services and Financial Aid, in collaboration with campus partners, have launched an initiative to increase student financial literacy. We will present a series of webinars where students will be able to put their knowledge to the test and learn new concepts when it comes to paying for their education and making sound financial decisions.  Students are to take a pre-test prior to watching each webinar to test their prior knowledge.  At the conclusion of the webinar, students will have the opportunity to take a post-test in an effort to either reinforce prior knowledge or educate in new concepts. 

Will.Power.Students 

• What is Financial Literacy? 

• How does Financial Literacy and Financial Aid relate? 
• What can I do to maintain Financial Aid eligibility?  
• What actions can I take to be financial literate? 
• Overall, what did you learnfrom the webinars?