GRAND RAPIDS, Mich. (9/3/15)--Affinity Plus FCU hosted four 20-minute financial education workshops based on the “Let’s Make a Deal” game show format for new students at Itasca Community College (ICC) in Grand Rapids, Mich.
Eighty-five students attended the Aug. 24 “Smart Money” workshops at the school’s New Student Orientation.In each workshop, three students were asked to be game show contestants. The “host” read different scenarios involving people making financial decisions. The contestants shared why they believed the people made good or bad financial decisions.
“We understand financial management is different for everyone, especially students, and this approach was designed to give students information so they are able to make responsible decisions that work for them during college, and after graduation,” said Stephanie Musgrove, Affinity Plus educator and business development specialist.
The scenarios were inspired by members of ICC’s administration, who said that because students have limited access to financial education resources, they may not know how to properly use a credit card, make payments on their private student loans, or balance their budgets so that they have enough money for essentials like food and rent.
“Almost all of these issues are things students are seeing for the first time in college,” said ICC Director of Enrollment William Marshall. “Most will be getting their first credit card sometime during college, and it’s extremely easy to overuse and underpay with credit cards.
“Student loans are a reality for most college students these days, and they need to understand the importance of their credit score and how their score can be negatively affected by missed payments or defaulted loans,” Marshall added.