Page 45 - Payne Research Center ~ Money Matters

P A Y N E C E N T E R . OR G
First-generation students and historically marginalized students who grow up with economic challenges may require tailored support and additional resources to navigate the complexities of the financial landscape. This research yielded several insights to enhance the Financial Well-Being initiative and support HBCU students in achieving their financial goals. A few ideas that surfaced for consideration include:
● Guide students to align their financial practices with their long-term aspirations
● Cultivate students’ goal-oriented mindset in financial planning
● Promote real-world savings habits by leveraging the Savings Collaborative app
● Emphasize 21st-century skills, such as asking good questions and advocating for oneself
● Incorporate strategies to involve families
● Add new activities and real-world scenarios to the curriculum
● Develop a module on student loans
● Offer personalized financial coaching from certified coaches
The joint initiative between the Dr. N. Joyce Payne Research Center and the Savings Collaborative uniquely positions HBCU students for financial success. By incorporating the insights derived from the Financial Well-Being survey and the 2024 “DevCon” course implementation, we can further strengthen our collaborative efforts to educate students about how the financial choices they make today can create a broader range of personal and career opportunities in their future.
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