Classification: Two-year college or university; Hispanic-Serving Institution.

Modules Used:

• Module 1: Get a Grip on Your Finances: Smart Spending for Students.
• Module 2: Seek out Financial Aid: Funding Resources and Financial Obligations.
• Module 3: Work Hard but Smart: How to Be Successful in School and Graduate on Time.
• Module 4: Take Control of Your Future: Finishing School and Repaying Your Loans.
• Module 5: Now That You Are About to Graduate: Taking Control of Your Life.

How Used:

• New-student orientation.
• Human-development classes.
• Loan-management sessions.
• High-school outreach.

Program Description: Default prevention is the guiding principle that underpins the financial-literacy initiative at El Camino College. Students who show up with money problems and rack up debt are at risk of dropping out and subsequently defaulting on their student loans. The financial-aid staff and the faculty use USA Funds^® Life Skills^® in orientation sessions, human-development classes and loan-management sessions to help students become more intentional in their approach to both academics and finances.

Information from Module 1: Get a Grip on Your Finances: Smart Spending for Students is incorporated in the new-student orientation sessions offered twice weekly throughout the year to between 20 and 30 students per session. Conducted jointly by the director of financial aid and an academic counselor, these required sessions focus on academic and financial expectations of students.

Module 1 also is used extensively in the three-unit human-development classes offered as an elective for freshmen. As many as six classes of 30 students each are scheduled each term. The class is a continuation of the orientation session in that it focuses on planning for academic and financial success, especially during the first year. The faculty members who teach these courses find the information from USA Funds Life Skills is extremely helpful and enjoyable for students.

In December, prior to receiving their second loan disbursement, students are required to attend a group loan-management session with 20-30 other students. During each of the eight to 10 sessions offered, the financial-aid adviser reviews academic progress requirements and financial obligations. Information from Module 5: Now That You Are About to Graduate: Taking Control of Your Life, especially the discussion about "living beyond one's means," is provided during these sessions.

The implementation of USA Funds Life Skills has helped El Camino College achieve a lower cohort-default rate. Additional planning with students each semester means there are fewer students living on the financial "edge." Student feedback on Module 1 evaluations and faculty responses to the program have been overwhelmingly positive.

In addition, El Camino College uses select portions of Modules 1, 2, 3 and 4 as part of the Extended Opportunity Programs and Services. EOPS helps economically and academically disadvantaged students access the support services they need to be successful in college. Outreach to these students extends from middle school and high school through college.

As part of this initiative, USA Funds Life Skills materials are used in 45-minute workshops for high-school students and their parents, as well as a summer outreach program offered on the campus. The sessions focus on exploring careers, money management, budgeting and the costs of going to college.

Staffing Requirements: Members of the faculty, the director of financial aid and an academic counselor deliver Module 1. The financial-aid adviser delivers Module 5. In addition, a student-services technician delivers the information from Modules 1-4 to high-school students and their parents.

Recommendations: Education is a far better option than threats in helping students get on track with their finances. Therefore, the program should be shared with the education leaders of the campus, the faculty. El Camino College recommends "selling" the program to the faculty first. Faculty members can see firsthand how students' money problems can overshadow their academic experiences. Inviting the faculty to "find a place" for the program can produce very creative implementation strategies. The college also found that the services of USA Funds consultants in training faculty and staff were very helpful in implementing USA Funds Life Skills.

According to the EOPS staff member, targeting specific populations for the information is important when using USA Funds Life Skills for outreach to high-school students. This targeting is especially key when the group includes low-income, first-generation students and their families. The EOPS staff member emphasizes the importance of careful preparation and familiarity with the material. In addition, the facilitator must allow for different learning styles if students are to engage meaningfully in the sessions.

Campus Contacts:
Kim Legier, Financial Aid Counselor
Phone: (310) 660-6400
E-mail: klegier@elcamino.edu

Cece Fuentes, Student Services Technician (EOPS/CalWorks)
Phone: (310) 660-6195
E-mail: cfuentes@elcamino.edu