Madonna University Students in Bridging Lost Gaps Program Receive Money Management Tips from CVF
What are the most common money mistakes that college students make as they strike out on their own for the first time? Many adults can probably guess from their own experience that include spending every penny instead of saving, living beyond your means, letting bills slide and not paying on time, not keeping tracking of account balances and transactions and not checking for the best deals.
“Starting college is a big deal in itself. That’s why Madonna University wants to help students avoid these money pitfalls,” said Brett Jordan, director of The Bridging Lost Gaps Program (BLG), which provides experiences that prepare young African-American males from Detroit for college and life after graduation. “Many of the students in our program are the first in their families to attend college and have never received any official financial education.”
Earlier this month, Jordan invited Emma Teller, vice president of marketing and business development at Catholic Vantage Financial (CVF), to present a College Financial Prep workshop to a group of 35 BLG students. CVF is a provider of credit union services to Madonna students, faculty and staff.
Teller, who is also a mom of three children including one currently in college, brought a cart full of helpful handouts and surprises for students who attended the workshop.
“It’s important to get their attention while covering the basics of budgeting, how to establish credit and avoid identity theft,” said Teller, who quickly captured the students’ interest by asking questions and then rewarding correct answers. “They really asked some good questions, and stayed late on a Friday afternoon after a long week of classes.”
Teller was also impressed with the variety of studies the students were undertaking, including business, criminal justice, graphic design, social work, early childhood education, film and sports management.
“I gave them a lot of information to digest, but you can tell they’re eager for more,” added Teller. “When asked about other possible workshop topics, some wanted to learn about investments.”
According to Jordan, there are 82 students in the BLG program which was in introduced in 2012 with five freshman. This year’s freshman class has grown to include 24 students from Metro Detroit.
“Tackling the subject of finances early in the school year will definitely help these young men,” said Jordan. “We are grateful to Emma and Catholic Vantage Financial for providing good money management tips and resources.”
In addition to workshops, BLG students receive mentoring, career development opportunities, and a community support network. For more information about the program, visit here.
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