Financial Literacy Resources
Financial Literacy Resources
Successfully managing default rates requires providing financial literacy resources.
Sadly, with students today, the data shows that we must assume the majority are financially illiterate. For those of us working with students, it is not surprising that students now entering college or a vocational training program:
1. Will require some assistance with student loans to complete their education
2. Did not receive adequate financial literacy education at home or in high school
3. Cannot comprehend the impact student loan repayments will have on their post-education budget
4. Do not understand how compound interest inflates their loan balances
5. Have difficulty choosing a repayment plan that fits their long-term situation and minimizes the amount owed
What Can We Do to Help Students?
At Champion, we know that providing students with financial literacy tools helps students and keeps the default rates low for schools. We offer several resources to achieve this goal:
Successfully managing default rates requires providing financial literacy resources.
Sadly, with students today, the data shows that we must assume the majority are financially illiterate. For those of us working with students, it is not surprising that students now entering college or a vocational training program:
1. Will require some assistance with student loans to complete their education
2. Did not receive adequate financial literacy education at home or in high school
3. Cannot comprehend the impact student loan repayments will have on their post-education budget
4. Do not understand how compound interest inflates their loan balances
5. Have difficulty choosing a repayment plan that fits their long-term situation and minimizes the amount owed
What Can We Do to Help Students?
At Champion, we know that providing students with financial literacy tools helps students and keeps the default rates low for schools.
We offer several resources to achieve this goal:
Our preventative approach to default prevention is to reach out to students by text, phone, email, or mail at critical points to educate them about their rights, responsibilities, and options during the repayment cycle.
In partnership with Champion Empowerment, we offer subscription-based access to articles, courses, videos, ebooks that quickly teach basic to advanced level financial topics.
Our Default Is Lame resources include helpful printed borrower education handouts and memorable default awareness posters.
Through Champion for Success, we support a growing outreach that teaches basic financial literacy skills at high schools.
Make a Wise Choice!
Choose Champion default prevention programs and our financial literacy resources. Contact us today to learn more about how we can help your school achieve its goals.
Make a Wise Choice!
Choose Champion default prevention programs and our financial literacy resources. Contact us today to learn more about how we can help your school achieve its goals.
