Classification: Two-year public college or university;
Historically Black College or University.
Modules Used: Module 1: Get a Grip on Your Finances:
Smart Spending for Students.
How Used: Orientation classes.
Program Description: According to the district director of
financial aid at Hinds Community College, debt management is an important issue
for students at each of the six campuses. After participating as one of the
pilot institutions for USA Funds® Life Skills®, the
director has continued to use the program in his presentations each term to new
students in the required orientation classes. Counselors from the
student-services area are the instructors for these one-credit classes, which
range in size from 20-30 students per class. As an invited speaker, the director
of financial aid uses Module 1: Get a Grip on Your Finances: Smart Spending
for Students to provide valuable information about how to manage finances
and deal with credit cards to 800-1,000 students on the six campuses. Students
also receive copies of the student skills book and the personal-finance software
that is packaged with the module, for future reference.
The institution's cohort-default rate has decreased since USA Funds Life
Skills was implemented. The director of financial aid also reports that students
have a better grasp of the consequences of credit-card debt. To support these
efforts, credit-card companies no are longer permitted to recruit new users on
campus.
Staffing Requirements: The district director of financial
aid, with assistance from designated financial-aid staff, is responsible for
delivering Module 1 to incoming students in the orientation classes.
Recommendations: The district director of financial aid
suggests that campuses considering a debt-management initiative should begin by
contacting a USA Funds representative. As the past president of the consortium
of financial-aid directors representing the 15 Mississippi community colleges,
the director is using his positive experiences with USA Funds Life Skills to
encourage the consortium to consider implementing a money-management requirement
for community-college students.
Campus Contact:
Thurman Mitchell, District Director of
Financial Aid
Phone: (601) 857-3227
E-mail: tmitchell@hindscc.edu