Financial Literacy
Upon grant award, the Financial Literacy component included in-person workshops that would educate students on the importance of budgeting and managing debt, not only as a student but beyond their academic journey. Because of the COVID-19 pandemic, the services for this component were altered whereby an online money management tool would be used to provide these essential skills for First Time in College Students (FTIC) as well as all students.
Through the STC-DHSI grant, the college is also centralizing its financial literacy services, as prior to the grant’s award, these services were provided from different departments within the college. Strategies are now focused on the establishment of a Financial Wellness Center at the college’s Pecan, Mid-Valley and Starr campuses. The Centers offer financial wellness materials, as well as training and professional development for faculty and staff to provide financial literacy services and individualized financial consultations with students as requested. Additionally, through a partnership with iGrad, the online money management tool, students have access to courses related to money management, financial aid education resources and other personal finance resources. Again, due to the pandemic and the internal strategies needed to implement the online platform, the Financial Literacy objectives were not achieved. There were steps taken however, to ensure the grant required FTIC demographic was informed on some level of the financial literacy practices that were made available for students.
DHSI Goal 4
Increase students’ ability to effectively manage debt and stay on a path leading to program completion and employment.
Objective 4.1
Serve at least 2,000 Hispanic FTIC students in year 1 with an increase of an additional 250 each year in years 2-5 with Financial Literacy services.
Year 1
Note: 3,685 students were sent a Financial Literacy postcard through USPS and electronic mail.
Result: Objective 4.1 was not met.
Objective 4.2
Increase student’s perception of knowledge gained in financial and economic literacy among 75% of Hispanic FTIC students served per year with Financial Literacy services.
Year 1
Note: Student perception and level of knowledge gained was measured through the iGrad platform.
Result: Objective 4.2 was not met.
