I recently attended the National Summit on Collegiate Financial Wellness on the campus of Indiana University in Bloomington. This is the second year of this conference developed by Ohio State and Indiana University. It is packed with student wellness professionals dedicated to improving college financial wellness for today's college students.
Here are some highlights I gleaned this year:
The Benefits of Debt Letters:
I came away scratching my head as to why all institutions do not send out debt letters. I think they should be mandatory upon borrowing for the betterment of college financial wellness across the country.
The very cool thing is that these professionals are open and share best-practices in an effort to make student outcomes better, not only on their respective campus, but for students across America
Finally, there were over 200 in attendance from 129 intuitions in 39 states. With 4,706 degree granting institutions and student debt exceeding $1.2 trillion, where were the other 4,577? College students are asked to make massive financial decisions that can be career long with little instruction and understanding regarding personal finance. We can and we must do better and teach better college financial wellness.