JP Morgan Funds Financial Literacy at State University of New York
by FinancialCorps, 16 July 2015
The Center for Financial and Economic Education (CFEE) at the State University of New York announced that a grant from the JPMorgan Chase Foundation will create the Center’s first-ever Money Smart Forum, which is designed to empower students to make better informed financial decisions and move forward with effective management of their personal financial affairs.
The Money Smart Forum takes a multifaceted approach to financial education and includes not only regularly scheduled workshops on personal finance topics, but also one-on-one sessions with a personal financial coach. As part of the program, the customized guidance provided to the students enables them to develop both short-term and long-term financial plans, as well as a strategy for execution as the students progress through college and approach the beginning of their post-college professional careers.
While a number of financial education programs for college students exist, relatively few combine both the classroom-style workshops and one-on-one sessions with a financial coach. The rationale for this approach, as well as the success seen historically in this structure, is based on the premise that the personalized coaching addresses each participant’s different personal finance circumstances and objectives.
Students who complete the activities of the Money Smart Forum will receive a certification of completion and also then qualify for a drawing for a cash award. Given the importance of financial education on college campuses, combined with the support of the JPMorgan Chase Foundation, the State University of New York will continue to move ahead aggressively with its financial literacy efforts in the months ahead.