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Strengthening Student Retention: Financial Literacy Initiatives at University of Hawai'i

This initiative focuses on enhancing students' financial literacy skills at the University of Hawai'i at Manoa to improve retention rates. Through workshops, curriculum integration, and peer education, students gain knowledge in personal financial management and budgeting. Key findings indicate increased awareness and understanding of money management practices. The program also includes events like UH Saves Day and emphasizes the importance of FAFSA and applying for scholarships.

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Strengthening Student Retention: Financial Literacy Initiatives at University of Hawai'i

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  1. University of Hawai'i at Manoa Strengthening Retention through Financial Literacy

  2. University of Hawai'i Tuition Table Source: http://www.hawaii.edu/academics/tuition.html; www.hawaii.edu/admissions/tuition.html

  3. A Needs Assessment Students indicated: Kinds of financial topics they would be interested in learning about. Preferred methods of delivery. Staff/Faculty were asked: • What kinds of financial topics did they think students needed to learn about? • What were the student preferred methods of delivery?

  4. Results Kinds of Financial Information

  5. Receiving Financial Information

  6. Financial Literacy Curriculum • Review & Select suitable curriculum • Pilot • Evaluate • Revise & Adapt • Organize a campus committee • Train peer educators as delivery vehicle • Evaluate • Revise & Adapt

  7. Results of Workshop Participation [N = 500 students in 20 sessions] • Gained new knowledge and understanding of basic personal financial management. • Increased their awareness of money management practices • Demonstrated greater awareness on 13 of 20 indicators; significant differences on 5

  8. Program Expansion • Shidler College of Business faculty incorporated the materials in Finance courses • Peer educators recruited from Shidler • Access to College Excellence (ACE) peer mentors incorporated materials in freshmen learning communities

  9. ACE – First Year Program • Fall 2009: 350 freshmen; 38 mentors • Kept track of expenses • Class lesson • On-line lessons • Reflection • Pre/Post Surveys: 12/20 significant • Final semester reflection

  10. Qualitative Information • ACE • Financial literacy was the most important session • Time and money management lessons had the most impact

  11. Program Events • New Student Orientation • UH Saves Day – Annually in February • Departmental Requests: i.e., SSS, COP, Residential Life

  12. Building the Financial Capacity of Students • Show Reality • Importance of FAFSA • Encourage applying for scholarships • Learn about budgeting and finances

  13. Ideas for Financial Literacy on Your Campus

  14. Mahalo & Aloha

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