Students get tips, tutoring on money management

BOWLING GREEN, O.—Bowling Green State University is joining a growing list of colleges and universities that are helping students gain better money-management skills. The payoff? Students who are able to make sound financial decisions and ward off unnecessary debt during their college years.

BGSU has created Student Money Management Services which work with students one on one and provide educational programs and materials. The idea is to teach students how to analyze their financial situations as well as develop and manage a budget so they have better control over their financial lives. Administrators believe that BGSU is the first university in Ohio to have a comprehensive program of this type.

According to Student Money Management Services Director Dr. Duane Whitmire, the same critical thinking skills taught in academic classes can be applied to financial management. Being able to assess credit card offers or loan programs, for example, is important not only in college but afterward as well, he said.

The new service resulted from concerns raised by a group of BGSU students, faculty and staff. A committee was formed to research ways to help students with money-related matters and investigate exemplary programs elsewhere.

Student Money Management Services, which will include a Web site with helpful tips and links to a variety of other information resources, expands the financial training already offered in a number of BGSU campus classes and programs. It also augments BGSU's long-standing policy prohibiting credit card companies from soliciting on campus, according to Dean of Students Jill Carr.

When fully implemented, Student Money Management Services will employ two financial services educators who will offer students and parents one-on sessions where they will discuss financial education objectives, including the development of a specific budget for the student's upcoming year at the University.

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(Posted November 07, 2007)