Student Financial Education Center Teaches Students Financial Literacy
Many students complain about how college doesn’t teach them the necessary financial life lessons like how to create a budget, balance a checkbook, write a check, or properly save money. Even things students need to know how to do every year like fill out the FAFSA, file taxes, and apply for scholarships can be nearly impossible for some to navigate. College students are generally portrayed as broke, and that may or may not be true. But what is true is that everybody wants to save as much money as possible when budgeting for food, rent, and other college necessities.
Fortunately, Penn State has financial literacy programs and workshops to help students better understand how to budget properly and perform other financial necessities. The Student Financial Education Center (SFEC), located in the Schreyer Business Library, offers one-on-one programs and group workshops to teach students how to talk money and navigate financial situations.
Started in 2014 by UPUA and the University Libraries, the SFEC’s goal is to properly educate students on financial matters. Penn State is a great institution, but it comes at the literal and figurative cost of potential debt hanging over a student’s head long after graduation. Being buried in debt can have serious implications on your life, and it’s important to know how to handle it. This is just one of the reasons the SFEC was founded. With Pennsylvania being a state with one of the highest amounts of debt after graduation in the country, and Penn State being near the top of the list in Pennsylvania, students have frequently turned to the SFEC for help.
The SFEC doesn’t just help with future financial matters though. Workshops for monthly budgeting, applying for scholarships, and even protecting yourself from identity theft are also available. Additionally, students can make individual appointments with the SFEC to talk about more personal or pressing financial matters. With staff and peer advisers ready to help whenever you need it, a trip to the SFEC can save you from dealing with difficult financial situations alone.
The SFEC is hosting some financial literacy classes in the near future to help you better understand your finances. On November 11, the center is hosting a workshop on mortgages for graduating students who are in the market for a house, and how it can affect their lives. In December, the SFEC is hosting an identity theft workshop. If you are interested in either (or both) of these workshops, you can sign up on the SFEC’s website, or make a personal appointment to talk one-on-one with an adviser.