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Program Design & DevelopmentA Strategy of Collaboration &
Partnerships
Financial Literacy
Rizk & Reiter
MoneyCounts: A Financial Literacy Series
• Creating and developing financial literacy programs on a university campus does not have to be restrained by a budget allocation or one specific department.
• It can be efficiently accomplished by tapping into enthusiastic advocates of financial literacy within the institution to achieve success through collaboration and partnerships.
• With advocates emerging from new and unlikely places on campus, The Pennsylvania State University was able to create and deliver financial literacy programs to provide students the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial wellbeing.
• This workshop is dedicated to designing and developing financial literacy programs using a strategy of collaboration and partnerships
Description
MoneyCounts: A Financial Literacy Series
• Where do you start?• What resources do you need?• How do you determine program scope?• What elements should be included in a program?• What factors, internal and external, should affect
program design?
Specific Questions
MoneyCounts: A Financial Literacy Series
• Start financial literacy programs using a strategy of collaboration and partnerships in a university environment
• Develop financial literacy curriculum• Engage various departments in the process • Penn State experience with financial literacy
– MoneyCounts: A Financial Literacy Series– Student Financial Education Center
Objectives
MoneyCounts: A Financial Literacy Series
• At the beginning – Our story…..
Where do you start?
MoneyCounts: A Financial Literacy Series
• Penn State – Founded in 1855– Main Campus, University Park, PA – Twenty-four campuses – PA – 17,000 faculty and staff– 100,000 students– A teaching hospital that provides care to more than a million patients a year– Over one-half million active alumni (600,000)– Library ranked 9th among North American Research Libraries – An online World Campus – Outreach and Online Education
The Pennsylvania State University
MoneyCounts: A Financial Literacy Series
Daad A. Rizk, Ed.D.
Financial Literacy Coordinator
The Pennsylvania State University
Outreach and Online Education
128H Outreach BuildingUniversity Park, PA 16802
1(814)[email protected]
AIM - dar39rizk
Introductions
MoneyCounts: A Financial Literacy Series
Lauren Reiter, MLIS
Business & Economics Librarian
The Pennsylvania State University
University Libraries
309 Paterno Library
1(814)865-4414
Introductions
MoneyCounts: A Financial Literacy Series
• Pre-requisites to design – Assess current financial literacy efforts on campus– Identify major players – stakeholders– Create a body of advocates - equitable representation
• Advisory Board• Committee • Task force
– Assess opportunities for collaboration and partnership• Recruitment & Admission• Student Financial Aid• Bursar’s • Registrar’s • Faculty, Staff, Students’ organizations, Colleges, Departments, Libraries,
etc.,
Pre-requisites to Design
MoneyCounts: A Financial Literacy Series
• Advisory Board - Representation from:– Commission for Adult Learners – University Libraries– Office of Student Aid Staff– Executive Director for Student Aid– Community (Penn State Federal Credit Union)– Faculty Member– Undergraduate and Graduate Students
• University Park Undergraduate Association Member• Student Trustee
– Marketing Staff– Assistant Vice President Undergraduate Education– Student Affairs
Penn State Choice
MoneyCounts: A Financial Literacy Series
• Identify financial literacy needs– Set goals– Make a Plan
• Ask the $million dollars question:– What is the most important outcome you desire to accomplish
• Fulfill the need in financial literacy deficiency in general • Reduce student borrowing• Reduce loan default rate• Meet a requirement • Join the herd
Pre-requisites to Development
MoneyCounts: A Financial Literacy Series
• Curriculum• Location for delivery• Marketing• Audience
What Resources Do You Need?
MoneyCounts: A Financial Literacy Series
• Pick a list of topics based on your goals – Budgeting, debt management, student loans, credits, identity
theft, mortgages, cleaning financial clutter, financial literacy for women, wages and tax fundamentals
• Overview – what is financial literacy?
– Penn State = Cover students’ needs• Budgeting, credit & debt management, student loans
– Search Financial Literacy Resources and create an online guide for students (Library Page)
Curriculum
MoneyCounts: A Financial Literacy Series
• Audience – Traditional undergraduate students – Non-traditional undergraduate students – Adults– Graduate students – Online students – Students in other locations – campuses – Staff and Faculty– Community
Determining Scope
MoneyCounts: A Financial Literacy Series
• Workshops– in person, remote, recorded and archived
• Webinars – online students, flexible, comfort
• Freshmen Seminars – academic and practical
• Presentations – promote awareness, support
• Conferences – enhance and improve knowledge
• Peer-to-peer programs – student volunteers, trust, trend,
• Penn State = All methods to provide good coverage
Delivery Method
MoneyCounts: A Financial Literacy Series
Adopt a Strategy
• Adopt a Strategy – Collaboration & Partnership
• Develop an action plan• Who, why, when, where, what, how
Penn State = Strategy of Collaboration
Penn State = Strategy of Partnership
MoneyCounts: A Financial Literacy Series
Criteria of a Good Strategy
• Give overall direction• Fit resources and opportunities• Minimize resistance and barriers• Reach those affected – at risk population • Advance the mission
MoneyCounts: A Financial Literacy Series
• MoneyCounts: A Financial Literacy Series (Collaboration)– Workshops, Webinars, presentations
– Outreach and Online Education/University Libraries (workshops)
– Outreach and Online Education/World Campus
• Student Financial Education Center (Partnership)– Peer-to-peer educational program
– University Libraries/University Park Undergraduate Association
Programs
MoneyCounts: A Financial Literacy Series
• Plan a yearly schedule • Deliver a monthly workshop
Implementation
Date Year 2015 Submit Materials Workshop Time LocationJanuary 21 12/12 Wage and Tax Fundamentals 5:30-6:30PM Foster AuditoriumFebruary 18 1/9 FAFSA & Scholarships 5:30-6:30PM Foster AuditoriumMarch 4 1/23 Spring Clean Financial Clutter 5:30-6:30PM Foster AuditoriumApril 22 3/13 What is Financial Literacy? 5:30-6:30PM Foster AuditoriumMay 27 4/17 Student Loan Repayment Strategies 5:30-6:30PM Foster AuditoriumJune 24 5/8 Debt Management 5:30-6:30PM Foster AuditoriumJuly 15 6/5 Budgeting Fundamentals 5:30-6:30PM Foster AuditoriumAugust 5 7/3 Credit Cards 5:30-6:30PM Foster AuditoriumSeptember 16 8/7 Getting Student Loans 5:30-6:30PM Foster AuditoriumOctober 7 8/28 Financial Literacy for Women 5:30-6:30PM Foster AuditoriumNovember 11 10/2 Mortgages: Financial Process of Owning a Home 5:30-6:30PM Foster AuditoriumDecember 2 10/23 Identity Theft 5:30-6:30PM Foster Auditorium
MoneyCounts: A Financial Literacy Series
Collaborative Effort
MoneyCounts: A Financial Literacy Series
• Reserve auditorium• Communicate with Marketing• Arrange for recording and archiving• Write and place an announcement – Penn State News• Develop poster • Send out email invitations• Deliver the workshop - jointly
Behind the Scenes
MoneyCounts: A Financial Literacy Series
• Strategy = Partnership• Action Plan
– Recruit and interview students’ volunteers– Train students– Test students– Supervise students– Advise students
• Assess• Repeat
Student Financial Education Center
MoneyCounts: A Financial Literacy Series
The Student Financial Education Center (SFEC) offers
in-person financial education, from one student to another
Peer-to-PeerFinancial Education
Walk in or make an appointment to talk with a Peer Educator
Check Website for Walk-in Hours
Location: 309 Paterno Library, in Schreyer Business Library
Contact us at [email protected]
SFEC
MoneyCounts: A Financial Literacy Series
• Measurement – Attendance– Evaluation surveys – Follow up
• Assessment – Are you reaching your goals?
• Refine & repeat
Outcome and Assessment
MoneyCounts: A Financial Literacy Series
• http://live.libraries.psu.edu/Mediasite/Catalog/Full/8376d4b24dd1457ea3bfe4cf9163feda21/
• http://www.libraries.psu.edu/psul/researchguides/business/financialliteracy.html#moneycounts
• http://www.libraries.psu.edu/psul/business/sfec.html• http://www.hhd.psu.edu/studentservices/exit.html• http://www.hhd.psu.edu/hdfs/financial-aid/help-debt-and-personal-finances• https://www.youtube.com/results?search_query=daad+rizk+financial+literacy• http://radio.wpsu.org/post/penn-state-center-teaches-students-how-handle-their-loans• http://www.psuvita.org/• http://cal.psu.edu/
• Note: Follow the “MoneyCounts: A Financial Literacy Series” tab to get to the recorded materials on the Mediasite first link above.
Available Resources
Program Design & Development
Strategy of Collaboration & Partnerships
Thank You!
Comments and Questions
Rizk & Reiter