A-State to Begin Student Financial Literacy Program
JONESBORO – Beginning in May, Arkansas State University will start the SCARLET to Black program that will focus on improving the financial literacy and actions of students at A-State. The program will consist of two related series – “A Howling Start to Your Future,” focusing entirely on incoming first-year students and their families, and SCARLET (Smart College And Real Life Educational Training) to Black, that will host events open to any student, faculty or staff member at A-State.
Dr. Philip Tew, associate professor of finance in the Neil Griffin College of Business and director of the A-State Center for Economic Education and Financial Literacy, will direct the program.
“Financial reasons are the leading cause for students not completing college,” said Tew. “We are working at A-State to provide the education, tools and resources needed by our students to do away with this problem. We want our students to pursue their dreams and passions in the future while not being held back by poor financial decisions made when they were young college students.”
During new student orientation, “A Howling Start to Your Future” will include informational sessions that concentrate on the A-State semester billing statement, the financial aid package, clarify the student responsibilities within the federal student loan program, how to find the terms and conditions for scholarships, importance of completing the FAFSA, and an overview of what to expect the first year from the Howling Start Program.
During the academic year, all first-year students will attend the “Money Matter$ in the Fir$t Year” workshop presented by Tew. Additionally, the series will host “Real World: A-State,” a financial fair where students will work on real world budgeting scenarios based on estimated salaries after college.
In the spring semester, the series will host a “Financial Fitne$$ Fair” where financial institutions and local non-profit organizations will be on campus to discuss programs they offer that can improve the financial fitness of the first-year student.
“Helping young people better understand how personal finances work is something at Dr. Tew has devoted considerable time and research toward during his career,” Chancellor Kelly Damphousse said. “Increasing our students’ financial literacy is an important goal as we seek to improve A-State student success. It is my hope that the lessons they learn through this program will remain with our students long after they graduate.”
The SCARLET series will host numerous lunch and learn events throughout the year. These hour-long workshops will include internet safety, credit card usage, budgeting basics, scholarship applications and requirements, income tax basics, the FAFSA, salary negotiations, buying a car on a budget, getting married on a budget, and budgeting for your first home. These workshops will be recorded and shared via social media and the video-sharing channel, Vimeo.
A-State students interested in furthering their financial literacy knowledge and helping other students improve their financial literacy may intern with the A-State Center for Economic Education and Financial Literacy upon successful completion of FIN 2013 – “Personal Asset Management.”
For further information regarding the SCARLET to Black Program or the internship opportunities, contact Tew (ptew@AState.edu) at 870-972-3742.