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October 4, 2005

 

USA Funds Update

  

USA Funds Adds $1.3 Million to Hurricane-Relief Fund for College Students

  

USA Funds to Accept Applications Beginning Jan. 2 for 2006 Scholarship Programs

 

Washington Report

  

Legislation Reallocates Unspent Campus-Based Aid to Hurricane-Affected Schools

  

President Signs Extension of Higher Education Act, HEROES Act

 

Tech Talk

  

OpenNet Enhancements Offer School-Customers Details About Loans in Process

  

OpenNet to Offer Lenders Claim, Pre-Claim Data for USA Funds Guarantee

 

Debt-Management Perspectives

  

Central Arizona College Orientation Sessions Go Beyond Basics, With USA Funds Life Skills

 

Operations Bulletin

  

September-2005 Integrated Common Manual Available

  

FFELP Community Advised to Continue Use of Current MPN, Deferment Forms

  

Department Issues New Guidance on Late-Late Disbursements and Default-Management Plans

 

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Central Arizona College Orientation Sessions Go Beyond Basics, With USA Funds Life Skills

Central Arizona CollegeOver the summer, first-year and transfer students at Central Arizona College’s main campus in Signal Peak, Ariz., learned more than the basic information often presented at mandatory orientation sessions. Campus staff also equipped the students with information that the students need to make good decisions about money management, budgeting and credit —thanks to USA Funds® Life Skills®.

USA Funds Life Skills is a financial-literacy program that teaches students how to manage their time and money wisely while they are on campus and after graduation.

Jennifer McLaurin, assistant director of financial aid, explained that students were particularly interested in credit-card information from USA Funds Life Skills. She used information and exercises from Module 1, “Get a Grip on Your Finances — Smart Spending for Students.”

Students enjoyed a “needs-versus-wants” exercise that helped them clarify which items on their lists were actual needs and which simply were those they want. The sessions also covered paying for school, including the pros and cons of borrowing versus working through school, and what to do with financial-aid refunds.

McLaurin said that, on their evaluation forms, students gave positive feedback about what they learned. Some students suggested that more sessions be offered. Staff and faculty also are pleased about the campus’ use of USA Funds Life Skills.

“A lot of times students don’t learn about these things at home, either because parents think their children already know it or they don’t have the financial skills to pass on to their children,” says McLaurin. “Students need the type of information covered in USA Funds Life Skills.”

McLaurin learned about USA Funds Life Skills after attending a Train-the-Trainer session that USA Funds offered to local community colleges. She plans to incorporate USA Funds Life Skills in a workshop or class designed for Central Arizona College’s nontraditional students in the spring. She will look for ways to incorporate information from other USA Funds Life Skills modules that cover issues of particular interest to nontraditional students.

She also plans to offer USA Funds Life Skills in next year’s summer-orientation sessions. McLaurin will expand the amount of information covered in the sessions and will offer it at all three of Central Arizona College’s campuses.

USA Funds Life Skills materials are available at no cost to postsecondary institutions that use USA Funds as their primary guarantor and to all minority-serving institutions. In addition USA Funds offers modules 1-5 of USA Funds Life Skills to all schools located in states where USA Funds is the designated guarantor (Arizona, Hawaii, Indiana, Kansas, Maryland, Mississippi, Nevada and Wyoming).

You may order USA Funds Life Skills materials online. For more information about USA Funds Life Skills, contact your debt-management consultant.