College Student Wins Higher One's 'Money Makeover' Contest, Highlights Appetite for Financial Literacy on Campuses Across the U.S.

NEW HAVEN, Conn., Nov. 29, 2010 /PRNewswire/ -- College student Ta-Tanisha Atkins was selected by her peers as the student contestant who made the most improvement in managing her finances over the course of Higher One's "Money Makeover" contest.  As the grand prize winner, Atkins will be awarded $2,000 for reducing her debt by $550 on her way to achieving her goal of paying off her debt and improving her credit score.

A junior at Cameron University in Lawton, Oklahoma, Atkins entered the contest to improve her money management skills needed to pay off her credit card debt and car loans.  By taking small steps, like making extra monthly payments to cut down the life and interest on her loan, and cutting back on her number of shopping outings, Atkins made great progress in achieving financial independence and her success was recognized by college students across the country.

"The 'Money Makeover' contest has given me and the other contestants a chance to tackle some of the biggest challenges we, and college students across the country, are facing and provided real solutions to help lower our debt," said Atkins.  "I'm thankful for the opportunity to learn and practice new skills that will help me to better manage my money, and hope my experience can serve as an example to students everywhere that successful financial management is possible."

Launched in September together with NYSE Money Sense, the goal of the "Money Makeover" contest was to introduce college students to the basics of money management and promote the importance of financial literacy, especially since students typically carry the most debt.  Students submitted videos to appeal for a financial intervention and demonstrate their desire to take control of their debt. Five finalists were selected in October and through weekly blog posts on Higher One's Game Time   site, proved that reducing student debt is possible and reaching financial goals is feasible.  In their own words, contestants shared their experiences, advice and struggles to not only help themselves but also encourage their peers.

"By engaging fellow students and sharing their experiences firsthand throughout the 'Money Makeover' journey, the reward for each of these five finalists reaches well beyond the prizes awarded at the contest's end," said Mary Johnson, financial literacy and consumer advocacy manager for Higher One who posted general tips and advice on ways to budget along the way.  "It is our hope that these past nine weeks have provided invaluable, lifelong lessons for the contestants and their peers -- and what better way for individuals to learn those skills than from students just like themselves."  

Throughout the course of the "Money Makeover" contest, Johnson's tips helped the finalists avoid taking on additional debt and reduce their expenses. Contestants also shared their own suggestions, like cutting out unnecessary costs from eating out by packing lunch, negotiating interest rates with lenders and taking advantage of school programs and facilities to eliminate bills like monthly gym memberships.

"While the finalists each had individual stories, each contestant's journey is representative of a greater trend," said David Cautin, Chief Digital Officer of NYSE Euronext, whose online personal finance resource NYSE Money Sense is Higher One's co-sponsor  on the "Money Makeover" contest and provides tips to help students effectively manage their money. "Students are willing to do what it takes to take control of their finances and combat their debt head on. We commend Ta-Tanisha and the other 'Money Makeover' finalists for their commitment to improve their money management skills and taking the steps necessary to help themselves and students across the country."  

The finalists included David Finch, a student at Kansas Community College, Kansas; Steven Hayes, a student at the University of Houston's Graduate College of Social Work; Vickie Houston, a recent graduate of Baker College in Michigan, who received her master's degree in human resource management; and Anita Stoudmire, a graduate student pursuing an advanced degree in counseling at Liberty University in Virginia.  The four runners-up will each receive $500 to put toward their goals.  

For more information on the "Money Makeover" contest and to follow the contestants' journey to financial independence, visit www.higherone.com/gametime.

About NYSE Money Sense

In April 2010, NYSE Euronext launched NYSE Money Sense, an authoritative resource for basic financial education to help people better understand and manage their personal finances. The interactive site includes: A five-lesson Course replete with Certification Test, answers to basic Financial FAQs, a guide to other financial resources throughout the web and a first-person blog by a young New Yorker trying to get her finances in order. A committee of six of the country's leading financial education experts helped develop the site. NYSE Money Sense helps underscore NYSE Euronext's commitment to transparency, and the rebuilding of consumer confidence by helping people become more informed about financial matters.

About Higher One

Founded in 2000, Higher One (NYSE: ONE) is a leading company focused on helping college business offices manage operations and provide enhanced service to students. Through a full array of services from refunds, payments, electronic billing, payment plans and more, Higher One works closely with colleges and universities to ensure students receive Financial Aid refunds quickly, can pay tuition and bills online, make on-campus and community purchases, and learn the basics of financial management.

Higher One provides its services to more than 4.8 million students at distinguished public and private higher education institutions nationwide. More information about Higher One can be found at HigherOne.com.

SOURCE Higher One