1. HIGHER EDUCATION FINANCIAL WELLNESS SUMMIT
2017 Webinar Series
Designing a Successful Student Money Management Center through Assessment and Evaluation
Kayleen Chen
Peer Mentor
UU Personal Money Management Center
Paul F Goebel
Director
UNT Student Money Management Center

2. Agenda
Research
Program Development
Recommendations
Resources

3. Why is national research important?
By The Numbers
92%
Percentage of Americans effected by stress related to money. Umpqua Bank Study
36%
Percentage of full-time students who complete their bachelor’s degree on time. Complete College America Study
70%
Percentage of students who feel stressed about their personal finances. National Student Financial Wellness Study
Why is national research important?

4. Utah's flagship school founded in 1850 31,673 students
In-state tuition $34,245
$19,056 average student loan debt (FED and private)
3.8% cohort default
Drop out rate due to finances and/or family issues
PMMC established Spring 2010
2 FTE + 1 student financial counselor (AFC) + Peer Mentors

5. Started with Assessment: Undergrad students w/survey and clip boards
62% do not use a budget
34.44% reported very un- or uncomfortable w/$
What type of information would you find helpful?
Budgeting
Individual counseling
Preparation for post-graduation
Would you be willing to pay $3 per semester fee?
72% yes

6. ASSESSMENT FINDINGS Administrative buy-in Funding sustainability
Developed our program model

7. Students, staff and faculty
PROGRAM MODEL
PERSONAL MONEY MANAGEMENT CENTER
Counseling
One-on-one
Students, staff and faculty
Outreach
Visit classes
Tabling
Orientation
Network
Events
VITA
IDA
Workshops
Start Smart
“U” Saves Week
ASSESSMENT

8. Public university founded 1890 37,973 students In-state COA $23,780
$23,240 average student loan debt (FED)
6.7% cohort default
SMMC established Fall 2005
4 FTE | 1 GA | 6 Mentors | 2 Interns

9. Evaluations Focus Groups
LOANS
Green
Memorial
Boots-to-Books
Bailey
Sewell
Retention
COACHING
Initial Follow-Up Micro Nano Study Abroad Student Loan Exit
Application
ONLINE
Website
CashCourse
Scheduling
Requests
Resources
Social Media
Information
OUTREACH
Tabling
Classes
FIT
Student Orgs
Special Events
Money Month
Education
Evaluations Focus Groups
Google Analytics
Student Review Panel
Pre-/Post-Tests
Needs Assessment
Default Rate

10. [ seek out services only when problems arise ]
Assessment findings
Topic-specific workshops
Timing
Length of workshops
Applicable instructions
New topics
Life Skills
Audience engagement and participation
Lack of student loan repayment knowledge
[ seek out services only when problems arise ]
Focus Group of non-users

11. Lessons Learned FROM ASSESSMENT
Best marketing is word of mouth
Don’t need to spend a lot of $ on marketing
Simple works - don’t complicate the message
Students have great ideas
Nothing is constant
Assessment is always ongoing

12. NEXT STEPS Identify what you want to assess first
Create an assessment plan
Implement!
CASE: Collect. Analyze. Strategize. Execute.

13. QUESTIONS?

14. HIGHER EDUCATION FINANCIAL WELLNESS SUMMIT
2017 Webinar Series
Designing a Successful Student Money Management Center through Assessment and Evaluation
Kayleen Chen
Peer Mentor
UU Personal Money Management Center
Paul F Goebel
Director
UNT Student Money Management Center

15. Resources
ent.pdf
m_based.pdf
literacy_b_ html
intraweb.stockton.edu/eyos/scefl/content/docs/Financial%20Literacy %20Assessment%20page% pdf

16. moneymanagement.unt.edu personal-money-management.utah.edu
Financial success starts here.
moneymanagement.unt.edu