In the 2013-2014 academic year, a passionate MBA student at the University of Wyoming pushed for the creation of the Student Financial Wellness Committee after seeing a need on campus. With the support of Aaron Courtney, assistant manager of financial services, the university was able to recruit a group of about 10 students to plan and lead financial literacy events around campus.
“We really feel students want to learn about finance from another student,” Courtney explains. “We’ve seen a big difference between how students respond to a peer presenting versus an administrator. It matters to students to hear about finances from someone who is going through the same things.”
In addition to student-led presentations, the committee also held tabling events and a very popular activity called Cash Cart, inspired by the show Cash Cab, where riders answer trivia questions in a cab for prizes. The students of the Financial Wellness Committee drove a golf cart around campus giving rides and asking financial literacy questions.
“At first students were a little hesitant to take the golf cart ride, but once they saw a few of their peers do it, they were very enthusiastic. Students loved getting rides across campus,” Courtney says.
Cash Cart engaged students with financial education beyond the traditional format of a workshop or a presentation. Including students in the planning process helped create activities that resonated with the campus.
“Financial wellness is a skill that people should be learning early on, but college does present an opportunity to teach students, because for many it is their first time away from parents,” Courtney explains. “We need to help equip them to be financially responsible and enter the real world ready to go.”
Looking forward, Courtney plans to work with the school’s athletic department to collaborate on a financial wellness program. As a fall 2015 CashCourse Reimbursement Program recipient, the school also plans to continue their Student Financial Wellness Committee.
“Our best recommendation is to use CashCourse for all it’s worth,” says Courtney. “You should not have to reinvent the wheel. CashCourse is user friendly, and it’s a great starting place for schools that want to implement more financial education.”