FINANCIAL MANAGEMENT TOOLS |
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(NAPSI)-As college education costs continue to rise, colleges and universities, along with financial services companies, are stepping up to help students develop sound financial management skills. According to a new survey by Higher One, which provides higher education institutions and their students with efficient, convenient and easy-to-use solutions to handle financial disbursements, more than 70 percent of college students learn about money management from their parents, but as handling personal finances becomes more of a challenge, most are seeking additional sources of financial information, including school presentations, books and online resources. In order to meet the needs of students who are looking to augment their financial management knowledge, financial services companies are increasingly creating new programs aimed at providing fuller levels of financial understanding. Higher One works with colleges and universities to speed up refund distributions by providing students with online debit accounts. It helps universities develop Web sites for each of its partner schools that help students understand many of the financial processes they will encounter in school. Each student with an account, as well as any interested parents or non-account holders, also receives a quarterly newsletter filled with resources and tips on money management. “Students are always looking for more ways to learn more about managing their money,” said Miles Lasater, chief operating officer at Higher One. “As a result, it is important for financial services companies working with students to partner with institutions of higher education to continue to provide new ways for students to obtain this information.” Schools are also getting in on the act. “Dowling College is building a freshman workshop to help make our students more aware of the good and bad of credit,” said Patti Noren, director of student financial services and bursar at Dowling, which is in New York. The efforts are paying off as students realize how important sound financial management practices are. The survey shows that more than 97 percent of students said developing good financial management is an important skill, and more than 70 percent of students check their account balance online at least once a week. Dominique Burrell, a student at Northampton Community College in Pennsylvania, understands the importance of online and academic resources. “I have alerts sent to my e-mail showing my available balance and any other miscellaneous transactions,” Burrell said. “It helps me maintain financial responsibility.” To check out the college finance Web sites, visit www.LearnAboutOne.com. To learn more about the survey, visit www.HigherOne.com/media. Financial services companies are providing services that let students check bank balances through mobile messaging. |
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