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University of Hawai'i at Manoa Strengthening Retention through Financial Literacy.

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Presentation on theme: "University of Hawai'i at Manoa Strengthening Retention through Financial Literacy."— Presentation transcript:

1 University of Hawai'i at Manoa Strengthening Retention through Financial Literacy

2 University of Hawai'i Tuition Table TermResidentNonresident 2008-09$5,952$16,608 2009-10$6,768$18,816 2010-11$7,584$21,024 2011-12$8,400$23,232 4 Years $28,704$79,680 Source:;

3 A Needs Assessment Students indicated:  Kinds of financial topics they would be interested in learning about.  Preferred methods of delivery. Staff/Faculty were asked:  What kinds of financial topics did they think students needed to learn about?  What were the student preferred methods of delivery?

4 Results Students Faculty /Staff 1InvestingBudgeting 2 Getting Ahead after Degree Avoiding Credit Problems 3 Student Loans 4Budgeting Avoiding ID Theft Kinds of Financial Information

5 Receiving Financial Information Students Faculty /Staff 1 Financial aid interview Extra credit 2 Event with free food 3 Extra credit Website 4Website Financial aid interview 5 New Student Orientation

6 Financial Literacy Curriculum  Review & Select suitable curriculum –Pilot –Evaluate –Revise & Adapt  Organize a campus committee  Train peer educators as delivery vehicle –Evaluate –Revise & Adapt

7 Results of Workshop Participation [N = 500 students in 20 sessions]  Gained new knowledge and understanding of basic personal financial management.  Increased their awareness of money management practices  Demonstrated greater awareness on 13 of 20 indicators; significant differences on 5

8 Program Expansion  Shidler College of Business faculty incorporated the materials in Finance courses  Peer educators recruited from Shidler  Access to College Excellence (ACE) peer mentors incorporated materials in freshmen learning communities

9 ACE – First Year Program  Fall 2009: 350 freshmen; 38 mentors –Kept track of expenses –Class lesson –On-line lessons –Reflection –Pre/Post Surveys: 12/20 significant –Final semester reflection

10 Qualitative Information  ACE –Financial literacy was the most important session –Time and money management lessons had the most impact

11 Program Events  New Student Orientation  UH Saves Day – Annually in February  Departmental Requests: i.e., SSS, COP, Residential Life

12 Building the Financial Capacity of Students  Show Reality  Importance of FAFSA  Encourage applying for scholarships  Learn about budgeting and finances

13 Ideas for Financial Literacy on Your Campus

14 Mahalo & Aloha

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