Classification: Private career school.

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.

How Used:

• Student orientation.
• Entrance counseling.

Program Description: After attending a train-the-trainer workshop, the president, the financial-aid administrator and the financial-aid officer devoted two weeks to planning the implementation of USA Funds^® Life Skills^® at the Hawaii Institute of Hair Design. As a first step, they reviewed all materials and completed all modules themselves to pinpoint more precisely the information that reflected their goals for both financial literacy and default management.

The school's leadership decided that instructors would deliver Module 3: Work Hard but Smart: How to Be Successful in School and Graduate on Time to all entering students during the first week of classes. School staff believes that it's important to focus on student success by helping students understand "how to go to school and be a good student." Students are given the corresponding student skills book, which they must complete and return by the end of the first week. After the books are reviewed and the evaluations retrieved, the skills books are returned to the students for future reference.

During the second week, the financial-aid staff delivers Module 1: Get a Grip on Your Finances: Smart Spending for Students and Module 2: Seek out Financial Aid: Funding Resources and Financial Obligations to students who have applied for loans. These modules are used to introduce the concepts of budgeting and financial management. The students are required to complete the student skills books for the two modules. The financial-aid administrator stresses the importance of determining how much money each student "really needs" before signing loan documents. When students submit their completed books, the financial-aid administrator or the financial-aid officer reviews their budgets with students individually. The skills books are returned to the student after this session. A lender representative is invited to come in at the end of the second week to explain the loan process and answer any questions students have after completing USA Funds Life Skills.

Ninety-five percent of the students who completed evaluations gave high ratings to the information they received from the three USA Funds Life Skills modules. In addition, the financial-aid staff reports that students are better informed after completing the USA Funds Life Skills and are more likely to ask questions about their finances and their student loans.

Staffing Requirements: The financial-aid administrator delivers Modules 1 and 2 to students applying for loans. An instructor delivers Module 3 to all entering students during student orientation.

Recommendations: The financial-aid staff suggests that reviewing the USA Funds Life Skills materials and completing the student skills books is an important first step in establishing the framework for the program. Identifying a module that is appropriate for the entire entering class, not just borrowers, is important for advancing the institution's commitment to financial literacy for all students. Having specific sessions for students participating in the loan program works well for both students and the financial-aid staff. The staff finds that discussing the information that students enter in their skills books makes a tremendous difference in their understanding of the modules. The financial-aid staff also recommends inviting a lender representative to explain the loan process after students complete USA Funds Life Skills.

Campus Contact:
Chimes Kamia, Financial Aid Officer
Phone: (808) 533-6596
E-mail: hihd@cchono.com