Online Students
I am reading the posts as it applies to physical financial aid and admissions offices.
Does anyone have suggestions for an online institution?
I think relating financial aid to credit checks done by employers is a great example of making the money students are using "real" to them and hopefully they will take it very seriously.
Matt,
We find that when students understand how student loans can affect their credit and future eligibility to buy a car, rent an aparmtne,t get a low interest rate on a credit card, and even get a job they realize how serious the loan responsibility is. Often online students are working adults who have an even greater understanding of credit, but it never hurts to remind them of how important a good credit report really is!
Diana Mateer
At my current institution they have integrated a fiscal fitness session that a student has to complete before they can log into the class for the first time. The purpose of fiscal fitness activity is to test and educate students on their rights and responsibilities as a student loan borrower, for us this has been proven quite effective when educating students and gaining that much needed awareness.
Kimberly,
I like that this needs to be completed before they can log into class. Are their similar activities throughout the course of enrollment?
Cheryl Kesson
Hi Cheryl I don't believe there are similar activities throughout the course.
This is a good way to guarantee that the student gets at least an introduction to the principles they will need to understand in order to be fiscally sound. It's especially important in the case of online-only students because one-on-one meetings might not be possible, leaving methods like this as one of the only ways to have meaningful contact with them regarding their student loans.
Greg,
Online students can be more of a challenge in regards to financial literacy. Since you are not likely to have the student in your office to counsel it's important that financial literacy be incorporated into the online process in a way that is fun, engaging and likely to be remembered.
Cheryl Kesson
