Weaving in money management concepts into various times of the life-cycle of a student can enhance students’ understanding of the concepts at critical junctures.
Here are 7 suggestions for reaching out to students with financial literacy concepts:
1. Include a budgeting tip into each electronic funds transfer (EFT) notice for Direct Loans.
2. In November, send holiday budgeting ideas and promote giving gifts of service to others.
3. In January or February, encourage students to get their credit reports for free and discuss how good credit is a plus for employment opportunities and future financing needs.
4. From February through April 15th, send along tax tips, especially reminders of the Lifetime Learning Credit.
5. Before spring break, send ideas for free events or more affordable ways to travel along with a budget tip.
6. Before summer, send tips on saving money towards a goal.
7. Before graduation, send tips on how to get the most out of Employee Benefits.