ALL THE MONEYSMARTS YOU NEED RIGHT WHEN YOU NEED THEM

ALL THE MONEYSMARTS YOU NEED RIGHT WHEN YOU NEED THEM

2.0 FINANCIAL LITERACY Clearly, we ve got to change the way we teach financial literacy. Let s meet students where they are Let s entertain them while we re at it MoneySmarts U makes traditional financial literacy education a thing of the Did you know people learn better when they re having fun? It s true. past. It focuses on changing behavior not on memorizing financial terms. Thats why we work as hard as we can to make sure our courses are LET S START BY AGREEING ON TWO THINGS: Instead of burying students under a mountain of information at random entertaining and interactive. Instead of forcing students to slog through times during college, our courses deliver only the information they need, 1. Financial literacy is very important 2. Financial literacy programs are generally boring pages and pages of written material, we incorporate a variety of when they need it. multimedia, including: Since the National Student Financial Wellness Study And teach them what they need to know found that 72 percent of college students report Our program starts with a course for high schoolers thinking about And we never take ourselves too seriously. that financial stress is a big issue with one-third of college, and delivers new content each year of their college career as them considering dropping out because of their debt loads number two presents a big problem. they progress from first-time students to new grads. Videos Charts and graphs Calculators Downloadable guides As a result, students stay engaged, and ultimately retain more of the money smarts they re supposed to be learning. High school students learn how to plan for college expenses. College freshmen learn how to create a budget and minimize the amount they re borrowing. New grads learn about the loan repayment process and how to navigate real-world financial situations. In other words, they learn about the issues that matter to them. The things they re dealing with at that very moment. It makes a lot more sense that way. And isn t that the point?

The nuts and bolts of MoneySmarts U Let s start at the beginning: Moving on up to college: Getting comfortable: MoneySmarts U has courses tailored to students at a number of levels: High schoolers thinking about college College freshmen College sophomores College juniors College seniors Recent college grads Prospective graduate students How am I going to pay for college? This is the foundational question For many, the first year of school is their first experience with managing After settling into school, it s time for students to consider what they want asked by any potential college student. their own finances. to accomplish during their time in college. For many, this could include Students are given access to the content relevant to them at their current stage. the high school course the first year student course Greek life, studying abroad, or going on a spring break trip. Tuition is far from the only college expense high school students will While they may be aided by student loans or helpful parents, many need to fund. Expenses range in price and commitment level from a students will learn the limits of their income and may start relying on parking permit to studying abroad for a semester. credit cards. After students finish their coursework, they calculate their MoneySmarts U Score to grade their current level of moneysmarts. It shows them what they have learned so far and what they need to work on. If necessary, they can go back through that year s lessons to fill in the gaps in their knowledge. They calculate their score each year so they can see how they re progressing. When they finish the program and calculate their final score, it s easy to see how their financial habits evolved as they increased their moneysmarts. All of these require money. Students will learn the value and necessity of planning in advance to save This course will help students start the funding college conversation This course is designed to prevent them from going down that path by with their parents by providing Parent Homework that the students teaching them to budget. can use to guide conversation with their parents. for a desired activity. Another key component in this course is creating a school funding plan in Students will learn how to manage their income so they can enjoy all case federal funds run out. This course covers all the options students can They ll cover Expected Family Contribution, Parent PLUS loans, and the fun things college has to offer, without paying for them over the next consider to help them pay for their degree. 529 Plans so students can get the information they need to make their 10 years. college funding decision. The MoneySmarts U Score the second year student course Money for college doesn t simply fall out of the sky. This course will prepare students for the realities of paying for college, while also giving them the tools necessary to get an affordable degree. Build your first budget tool Guide for what to do with your student loan refund check Calculate your summer income and make a plan for using it wisely Project future expenses tool Project your total income for a given period Guide for what to do if your federal funds run out Calculator that projects your future student loan debt Chart comparing in-state vs. out-of-state and private vs. public schools Tips for cutting the cost of going to college Calculator that evaluates job salaries to help students decide what major makes the most financial sense Downloadable conversation guide for students and parents for

Looking at what s next: the third year student course Facing the future: the fourth year student course As students get closer to graduation, the focus As students near graduation the stresses of necessarily shifts to career preparation. Habits working life begin to creep in. established in college don t magically go away the day they graduate. Affording rent, transportation, a move to a new city, the job transition period, plus the inevitable This course will help students set their budget, student loan monthly payments are just a put a savings plan in place, and get a clear idea of few of the considerations that begin to weigh on where their income should go. students as graduation moves closer. We also introduce the topic of credit scores. Our This course helps students identify their post- unique take on credit scores will help students graduation lifestyle and establish a 90-day keep their focus where it belongs on their post-graduation plan. It also helps them create everyday spending habits. a student loan repayment strategy. One that benefits their long-term interests not the lender s. Rate your financial stress quiz New graduates are rarely prepared for all the Project your future expenses tool expenses of their post-student life. This course will How to set goals for this year and beyond give them the tools to have a successful transition Guide to understanding your credit score from student life to working life. Preparing for the next stage: the pre-graduate student course For students who are either considering graduate school or have already committed to going, there are many financial factors to get straight fast. Will they work full or part time while attending? Will they be supporting a family? Will they live near campus or commute? Will the degree improve their future income? All of these factors will determine when and if graduate school is the It s time for the real world: the recent graduate course Recent graduates or soon-to-be graduates are in an amazing spot. They are Indiana University Phil Schuman is the founder of the award-winning IU The number one issue of post-graduation life that students have to come to at Indiana University. Under his watch, IU has implemented coming to an end, and now it s time to pay it off. a variety of initiatives designed to decrease student debt In this course students are given a plan for paying off student loans, budgeting great financial life. Calculate your income increase with advanced degree Guide to going to graduate school with a family MoneySmarts program and the director of Financial Literacy terms with is student loan repayment. All those years of accumulating debt are Compare your options for funding graduate school Director of Financial Literacy, future hopefully for the better. for daily expenses, and even starting a retirement fund. With just a few smart Phil Schuman facing their lives head on and can make decisions today that will affect their right move. moves at the beginning of their careers, they can set themselves up to have a programs he now oversees on all eight IU campuses. Phil has a Bachelor s in Psychology from DePauw University and an MBA from Indiana University. How to pay off debt chart Dining out challenge Plan for upcoming major expenses Calculate what the long-term cost will be if you delay saving for retirement Peter Dunn Founder of Pete the Planner Financial Wellness Peter Dunn, aka Pete the Planner, is an award-winning comedian and an award-winning financial mind. He's a USA Today columnist and the author of ten books. He is the host Projecting future expenses tool How to create your 90 days post-graduation plan A guide on how to avoid moving into your parents basement A student loan repayment calculator The people behind MoneySmarts U of the popular radio show, The Pete the Planner Show, and the podcast Million Dollar Plan. Pete has appeared regularly MoneySmarts U was created through a partnership between Phil Schuman, director of Indiana University s Office of Financial Literacy, and Peter Dunn, founder of Pete the Planner Financial Wellness and a national personal finance expert and personality. on CNN Headline News, Fox News, Fox Business, and Good Morning America as well as numerous nationally syndicated radio programs. Pete is regularly considered one of the foremost experts on financial wellness in the world.

Make your campus a more moneysmart place To find out how to get the MoneySmarts U platform for your school, contact us by email at info@moneysmartsu.com or by phone at 812-855-6804.