The Role of Colleges and Universities in Students’ Financial Well-Being

Abstract

Due to the responsibility of individuals for their own financial security and the impact of uniformed consumers on the economy, colleges and universities are in the unique position of having a captive audience. There are many resources, often free, available to colleges and universities. As institutions strive to increase student retention and graduation rates, offering financial education programs may bolster their public image and mission. The goal of this paper is to motivate faculty to become involved in their local community and on their college campuses to do our part in addressing the nationwide problem of financial illiteracy.