NSLP Announces Winners of Financial Education Scholarship Contest

Schools participated in financial education courses; averaged significant improvement

LINCOLN, Neb., March 5, 2012 /PRNewswire-USNewswire/ -- NSLP awarded two scholarships to students who successfully completed Financial Avenue, an online financial education program for postsecondary students. Sara B. from St. Charles Community College in Cottleville, Missouri, and Jason L. from Hebrew Union College-Jewish Institute of Religion in Cincinnati, Ohio, each will receive a $500 scholarship.

The drawing was open to students from postsecondary schools that participated in the special program. Participants completed interactive financial education courses and mini-modules that cover budgeting, credit cards, paying for college, credit history, identity theft and contracts. On average, participants' test scores improved significantly between the pre- and post-test.

"The mini-module on banking basics was user-friendly and included up-to-date terminology and scenarios that were very informative," Sara said. "I have cut my checking account short before, and it was costly. I didn't always understand the banking fees; now I do."

Jason L. enrolled in the Financial Avenue program seeking advice on how to better control his finances and to become more financially prepared to finish graduate school. "Now I am more aware of how to structure my budget and prepare for the unexpected," Jason said. "The program provides need-to-know information for anyone who has the burden of insuring their financial future while studying in school."

The Financial Avenue program meets all of the Treasury Department's Financial Literacy and Education Commission's Financial Literacy Core Competencies Requirements, designed to help students establish a solid foundation for navigating financial matters through college and beyond. 

The decision to enroll her school in Financial Avenue's test drive promotion came about when Abigail Vernon, financial assistance counselor at St. Charles Community College, researched financial literacy in an effort to develop a default-prevention program on campus.

"I am hoping the learning modules will encourage students to make wise decisions about their finances, especially the successful repayment of student loans," Vernon said. "Student loans taken out in college can affect an individual's future financial health, and it is important for them to develop this awareness at an early stage."

At Hebrew Union College-Jewish Institute of Religion, Director of Financial Aid Roseanne Ackerley decided to participate because her school currently has a very limited financial literacy program.

"It was great to get our students involved in budgeting," Ackerley said.

The winners of the $500 scholarships were determined by a random drawing that included all students who completed the test drive program. For more information about developing results-based financial education programs, visit www.financialavenue.org.

ABOUT NSLP
Headquartered in Lincoln, Nebraska, NSLP is a private, not-for-profit company with a 25-year legacy in the higher education marketplace. A former Top-10 student loan guarantor, NSLP continues to be a passionate leader and advocate for student success; providing colleges and universities nationwide with financial education, delinquency prevention, default aversion, financial aid related support, and Title IV training and compliance programs. NSLP collaborates with schools to develop programs that will ultimately help our future generations thrive financially.

SOURCE NSLP