Purdue University peer counselors present USA Funds Life Skills
Purdue University upperclassmen this fall taught incoming freshmen the ins and outs of financial literacy by presenting a customized version of USA Funds® Life SkillsSM.
During this year's "Boiler Goldrush," 12 junior and senior leaders presented two 45-minute programs based on USA Funds' financial-literacy course. Boiler Goldrush was a weeklong event for approximately 5,000 of this fall's 7,000 incoming freshmen. The student presenters participate in a peer-counseling program on campus.
After three hours of training with Michele Colson, a USA Funds debt-management consultant, the peer counselors put together the presentation themselves — making the program material seem more realistic for the freshmen.
Feedback from the student attendees was positive. They liked the focus on credit cards and budgeting from USA Funds Life Skills Module 1 ("Get a Grip on Your Finances"). The freshmen also were happy to receive free personal-finance software, which is packaged with Module 1. The peer counselors were particularly pleased with the discussion and interaction among the groups.
Marvin Smith, associate financial-aid director at Purdue, said the students-teaching-students aspect of the approach was important. "I don't think the typical 18-year-old wants to hear a 40-something talk about money management," he said. "But maybe they will listen to a fellow 20-year-old!"
"We like the idea of using student employees. These students are testimonials themselves. They're eligible for the work-study program, which means they have moderate incomes and need to manage their money well. The student employees seem to enjoy the opportunity to talk to fellow students about money management," said Smith.
Smith said that a goal for future presentations is for the upperclassmen to incorporate more of their own life experiences. Thresa Gay, assistant director for client services and supervisor of Purdue's Peer Counselor Program, added that presenters also will work to encourage even more active participation from all those in attendance.
The next step will be to offer sessions this fall to freshmen and sophomores who live in residence halls. Peer counselors will make hour-long presentations in the evening to what Smith and Gay hope will be larger student audiences. Smith said they plan to market the sessions, offering free refreshments and touting the free personal-finance software to encourage participation.
"You really must tailor the sessions to students," Gay advises other postsecondary institutions interested in offering USA Funds Life Skills. "They look at the information in a different light when the financial-aid office presents it. Students can relate to the peer counselors because they talk about their own financial experiences. I think that's key."