SUNY Fredonia's Enactus is tackling the issue of college debt and financial success through the development of Fred Financials.
The mission of this project is to educate young individuals about personal finances, choices and financial planning in an innovative and effective fashion.
The financial literacy team has surveyed students on campus, asking a variety of questions to see how much SUNY Fredonia students know about personal financing.
Taking what they learned from their research, members of the group realized it is important to create a workshop where students can learn the proper ways to handle their finances and manage their debt.
The team has met with SUNY Fredonia's Provost Terry Brown, Robert Deemer from the general education department and Dan Tramuta from financial aid to research the different ways they can incorporate educating young adults about finances within SUNY Fredonia's curriculum. Each administrator was supportive, demonstrating an interest in working with students to plan and manage debt. Provost Brown is actively working on college affordability.
Fred Financials is in the process of developing a board game, Mad Bills. This would be an easy and understandable way for students to get a realistic point of view of what it would be like to manage college loans, credit card debt and other expenses. The game would use hypothetical situations and teach students how spending or saving money can affect their futures.
For more information about Enactus's financial literacy team, contact Dr. Susan McNamara at email@example.com.