American Student Assistance, ASA, SALT, and corresponding logos are trademarks or registered trademarks of American Student Assistance.©2016 American Student Assistance. All rights reserved.

David Snow

Partnering for Student Financial Success By Utilizing Salt

Agenda

• Financial Literacy and Student Success

• Partnering to expand resources

• Utilizing Salt for Your Financial Literacy Initiatives1. Counseling sessions2. Workshops 3. Optimizing

Communication Channels

Financial Literacy and Student Success

Student Success

Academic

Social

Financial

Physical

The Best Part? Students Are Open To Learning

From ASA’s 2015 Life Delayed Study

How valuable would you say that the following types of information/resources are to offer to an undergrad?(% represents somewhat or very valuable)

75%

77%

79%

79%

80%

82%

83%

Counseling on how loan debt may impact my careerchoices

Counseling on how loan debt may impact my future lifechoices

General training on how to maintain a budget*

Training how to incorporate loan repayment as part of mypost-graduation living expenses

Strategies on how to get the education I desire at themost reasonable cost*

Different repayment options potentially available for me

Options on how to reduce student loan debt, e.g.,scholarships, grants, etc.

Partnering to Expand ResourcesPresentation Title 6

Key Elements That Promote Partnerships

• Perceived need/purpose

• Goals and objectives

• Audience

• Partners and resources

Goals And Objectives

• Students making better informed decisions around college choice

• Get students to attend – and pay attention

• Lower borrowing levels

• Collaborate with other programs

Partners And Resources

• College campus partnerso Find some champions: staff, faculty, students

• Community resourceso Local credit unions, banks, insurance professionals, etc.

• State and national resourceso Not-for-profit agencies

• Blogs and websiteso Saltmoney.org/osac

Saltmoney.org/osac

Saltmoney.org/osac

Utilizing Salt for Your Financial Education Initiatives

Considerations For Your Programs

13

• Do you provide individual counseling sessions?

• Do you offer workshops?• What are your most effective

communication channels?

Counseling Sessions:Use Salt calculators and tools to introduce students to resources and drive important messages home

Using SALT

15 SALT CREATED BY AMERICAN STUDENT ASSISTANCE

Scholarship Search

College Cost Planner

16

17 SALT CREATED BY AMERICAN STUDENT ASSISTANCE

Loan Repayment Calculator

Using SALT Workshops (1):Suggest students complete Educational Planning course prior to Financial Aid/FAFSA Night

Partnering idea: work with financial aid office at local college to deliver presentation and discuss their processes

Salt Courses

20 SALT CREATED BY AMERICAN STUDENT ASSISTANCE

Salt Course: Educational Planning

Workshops (2):Incorporate Salt content into presentations and workshops

Partnering idea: work with credit union or local organization to provide giveaways and/or raffle items to encourage participation

Using SALT

5 Best Practices for Program Design

Keep Them Coming Back 22

1. Make it Relevant and Meaningful “Teachable Moments”

2. Make it Active and Experiential

3. Make it Stand Out (when advertising session)

4. Make it a Regular Occurrence

5. Make it Quick!

** Several elements adopted from Financial Education in TRiO Programs, Institutional Policy Brief, The Pell Institute, September 2009

Workshop Formats

• Traditional Workshop• Flipped Classroom/Workshop

Lecture

Homework

Incorporating Salt Courses

Money Management Course

Money Management Course

Traditional Workshop Activity Example

Gettingauthentic discussions started15-30 min.

Help students understand their relationship with money.

Workshop Read the questions, and then ask the students to record their answers.

Which financial aspects or concepts do you think people struggle with the most and why?

What is the purpose of money?

• Depending on class size, this can be done in small groups.

• Students can share individual answers, or you can break students into smaller groups, and ask them to share two three answers.

• Discuss realizations as a class. (Create a top 10 list)

Follow up Assign Salt Money Management Module as a homework assignment.

Flipped Workshop Activity Example

Prior to workshopactivity

Assign Salt Money Management Module as a homework assignment. Ask students to email you the certificate of completion

Workshop FINANCIAL INSTITUTIONS: Break students into pairs or groups depending on size. Hand out the Comparing Financial Institutions worksheet. Have students go online to find the information for three financial institutions. (Consider having them select a standard bank, a credit union, and an online-only bank.)

1. Have students discuss their findings in the group.2. Optional: Give them different student scenarios to make recommendations for different situations. For example, what recommendation might they make for a person who’s a residential student, living on campus, prone to bouncing checks vs. a commuter student who needs convenience?2. Have each group report their finding to the larger group.

Follow up Have students review their personal financial institution(s). In particular, have students focus on the available account reconciliation options, fees, etc. and have them commit to a regular review of their financial accounts (weekly or monthly, depending on the amount of financial activity).

Use Existing Communication Channels:Share timely, relevant tips through email, social media and newsletters

Using SALT

Attend Your Dream College EBook

29

Paying For College EBook

30

Reviewing Financial Aid Awards – Articles and Infographics

Presentation Title 31

Follow Us For New Resources and Content Ideas

@SALT_Money

facebook.com/saltmoney

Questions?