University Business - October 2011 - (Page 52)

cfo Campus Dollars and sense videos and information about student loans, how to read their first paycheck, 401k programs, and any other helpful financial information. In-house editors write articles daily, so the content remains fresh and relevant. The site also features career resources and free resume critiques. “When we build our content, we almost set it up as Facebook meets LinkedIn,” says LaBreche, explaining that students set up a profile and information is pushed out to them based on their specified major, grade level, and interests. “We think that, if it’s too generic, [students] are not going to care and won’t want to come back to the site. … If it’s generic, it’s not really relevant to their lives.” CashCourse, a NEFE-developed site for students and those up to two years out of college, offers information ranging from With the majority of one administrator’s job devoted to financial meal plans to financing a semester abroad to managing daily literacy, Creighton University students are not likely to forget about the need to handle their finances carefully. spending. Beck says the idea was inspired by what he has come to call the “President’s Dilemma.” 2. Get the word out. “What we were hearing from the university presidents was ‘we Ensuring campus organizations know about the program can know this is important, but we don’t have the money to do it,’ help garner support for financial literacy efforts from a large and ‘a natural home to house it,’ and in many places, ‘we don’t have diverse number of students. the money to maintain it to make sure it’s current,’ ” he recalls. In July 2010, Creighton University (Neb.) laid the ground“NEFE was in the position where we could build a program, work for its financial literacy program by hiring Dean Obenauer maintain it, and turn it over to the school.” as assistant director of financial aid for fiThe site was started three years ago nancial literacy—a new position on cam‘Schools can give financial pus that is 60 percent devoted to financial with 10 partner schools and has grown to 600 (the product is only available to literacy lip service and just literacy. Obenauer had previously worked nonprofit institutions). Because NEFE is in the financial aid office there from 1998 go through the motions, funded entirely through an endowment, to 2004 educating graduate and profeseverything is given away for free—and but if they find a solution sional students about credit card and debt there are no advertisements from finanmanagement issues. that includes a reason to cial institutions cluttering up the screen. “Because of being a high-cost private Partner institutions receive a specific come back, that’s where real school and because of the amount of CashCourse URL and can customize student loan indebtedness students leave learning starts.’ the look and content to fit the needs of with, it was a service we needed to pro—Rob LaBreche, iGrad vide,” says Obenauer. their students. “Various sections on the CashCourse website address whatever He says he spent the first year in his circumstances students are in, says Juliette Newcomb, financial position getting the word out about his role to student service aid counselor in the Oklahoma State University Scholarship and offices, academic departments, clubs, and organizations. “At this Financial Aid office. point, a lot of students seem appreciative of a refresher, even to Oklahoma State has been using CashCourse since 2009 and reinforce that what they’re doing is good,” he says. was recently placed in NEFE’s top 20 list for most traffic to their At Valencia Community College (Fla.), Director of Student site. Newcomb credits this to her office’s promotional efforts and Financial Assistance Bradley Honious and his team don’t have linking to CashCourse on the institution’s financial aid website. the captive audience of residence halls to get their message out. Whether or not you turn to a professional service or build He says the institution serves a lower-income population, many your own financial literacy website, having a place where stu- of whom work full-time jobs and simply come to campus for dents can browse on their own time is crucial. But, warns Beck, their class and leave. “We try to piggyback the financial learning taking on the challenge on your own requires funding for both initiatives with any student activity going on to reach as many as developing and maintaining a site. (Note: NEFE spends more possible,” he says. than $300,000 a year to maintain CashCourse.) This “reach all students” mentality can help make or break 52 | October 2011 universitybusiness.com http://www.universitybusiness.com

Table of Contents for the Digital Edition of University Business - October 2011

University Business - October 2011
Contents
Editor's Note
College Index
Ad Index
Behind the News
Sense of Place
Viewpoint
Human Resources
Cloud Email
Tuition Setting
Campus CFO
Independent Outlook
End Note

University Business - October 2011

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