Research
"I have already changed my current post-graduation plans due to this program. A lot of kids know about these expenses but actually seeing the numbers add up and learning different methods of saving is vitally important to our financial success after college." — senior year participant
Transition
According to Schlossberg’s Transition Theory, when students are facing a meaningful transition it is important to provide them support through honest feedback. Leaving the university setting and learning how to manage finances can be a significant transition in one’s life (Evans et.al, 2010).
Education
Gardner, Van der Veer and Associates (1998) stress the importance of educating students specifically with regards to financial and retirement planning, benefit plans, housing, transportation and other monthly expenses.
Statistics
Examination of the current financial landscape shows that support and education with regards to financial literacy is imperative now more than ever as recent statistics published by projectonstudentdebt.org indicate that “seven in 10 seniors (69%) who graduated from public and nonprofit colleges in 2013 had student loan debt, with an average of $28,400 per borrower.”
Outcomes
Fittingly, the Council for the Advancement of Standards in Higher Education (CAS) has created learning and development outcomes that emphasize the importance of helping students to “exhibit self-reliant behaviors” and “develop strategies for managing finances” (2009).