sam houston state university student money management center

Sam Houston State UniversityStudent Money Management

Center

Who Are We?

•The Student Money Management Center (SMMC) at SHSU provides free financial education services for SHSU students.

Our Mission

•To improve the financial well-being of our students by providing the unbiased education, counseling, tools, and solutions students need in order to achieve financial independence.

• Personal consultations

• Workshops, seminars, class presentations, special events

• Kat2Kat peer counselors

• Financial literature (customized handouts)

• Financial newsletter/Tip of the Week

• Online resources (http://www.shsu.edu/~smmc)

• Kat Cents On-Line E-Gaming Financial Literacy Program

Services

We Can….

•Assist students in making the right choices when managing money.

▫Help plan for the future▫Counsel on debt management▫Discuss establishing and maintaining

EXCELLENT credit▫Teach budgeting▫Help plan for life after graduation▫Look at various employee benefit packages▫Discuss financial counseling with couples

We Can NOT…

•We are not a financial institution.

•We do not provide the following:▫Specific investment advice ▫Loans▫Selection of a financial institution

(bank, credit union, etc.)▫Selection of financial planning services

Challenges to Implementing a Center

• Support from cabinet and top-level administrators

• Funding

• Campus location/facilities

• Buy-in from faculty and staff on campus

• Educating students on what we do

• Proper education/training for staff

• Networking opportunities

▫Professional development▫Conferences

Support and Implementation

•Research indicated that college students would benefit from, wanted, and needed a financial literacy department on campus▫Academic research, professional journals, on-

campus interviews, and focus groups

•Garnered support from VP Student Affairs, VP Enrollment Management, and President▫Divisional reporting/organizational structure

Vice President Of Student Services

Director-BKO and Student Money Management

Center

Assistant Director-Student Money Management

Center

Graduate Assistant-SMMC

Peer Counselor Peer Counselor

Student Money Management Center Organizational Chart

Funding and Implementation• Proposed and approved by the Texas State University

System Board of Regents in November 2007• Recommended per-semester fee to support ID card

program and financial literacy center• Approval was granted and development began• Funding began in September 2008• However, preliminary work began in 2007 with the

formation of:▫ Policy and procedures▫ Organizational structure▫ Purpose, scope, mission▫ Business and marketing plans▫ Personnel job descriptions and hiring

Campus Location/Facilities

• Initially, office was located in a small conference room in the Student Center

• In May 2009 we moved to our new office suite

• Shared with Bearkat OneCard Services

• Has private counseling offices

• Offers computers for student use

• Conference room for mini-workshops

SMMC entrance

SMMC Check-in desk

Bearkat OneCard Services

Private counseling rooms

Student-use computers

Promotional logo at event

Individualized counseling session

Counseling office

Campus and community support•Work with external agencies and other

campus departments to help maximize student experiences:▫ Financial aid▫ Academic departments▫ Orientation/enrollment management▫ Counseling center▫ Credit counseling▫ Texas workforce▫ Campus career services

Training/Continuing Education•Develop training materials and test

▫Worked Internally and with UNT to develop training manual for peer counselors

▫Had Counseling Center and other campus resources conduct training (e.g., counseling skills, FERPA)

•Gain certification:▫Director and Assistant Director are in the

process of becoming certified by both AFCPE and Institute for Financial Literacy

• Join associations and network

Affiliations: Professional Organizations and Associations•National Endowment for Financial Education

▫CashCourse Web site

•Association for Financial Counseling, Planning, and Education – AFCPE (http://www.afcpe.org/)▫Conference November 18-20▫Counseling Certification program

• Institute for Financial Literacy▫http://www.financiallit.org/▫Conference is October 21-23

Educating Students and Parents on What We Do

•Brochure and customized marketing materials

•New campus video

•Facebook page▫Links from official university page

•Signage around campus/sandwich boards

•Articles/press releases

•Orientation presentations

•Classroom presentations

•Quarterly newsletter (in progress)

Web site

•www.shsu.edu/~smmc/▫Calendar of events▫Services▫Cash Course▫Online resources/Downloadable resources

See handouts▫FAQs▫Financial Literacy Week▫Quicken Online▫Facebook group page

SMMC Cash Course

Advice for Others• Research the need for a financial literacy

program and talk to students on your campus

• Develop a strong business plan▫Specifically, design an efficient marketing plan

and business plan

• Start small, if necessary▫Office brochures, seminars, workshops

• Collaborate, Collaborate, Collaborate

• Join associations and professional organizations

Advice for Others

• Research the need for a financial literacy program on your campus and document your efforts for future publications

• Talk to students on your campus – these are your customers!

• Assess and benchmark

• Develop strong business and marketing plans

• Start small and share the passion

• Collaborate, Collaborate, Collaborate

• Form an advisory committee

Advice for Others• Join associations and professional organizations

• Identify senior administration advocate and “buy-in”

• Playing your strengths

• Flexibility in hours of operation

• Secure dedicated funding

• Engage students

• Stay the course!

QUESTIONS??

Contact Information

Dr. Kristy L. VienneDirector

Bearkat OneCard Services & Student Money Management Center

(936) 294-2274klv002@shsu.edu

www.shsu.edu/~smmc