Financial Education for College Access and Success

1. Financial Education for College Access and Success Advisory Council Meeting December 17, 2013 Year 4 Quarter 1 The agenda was developed under a grant from the U.S. Department of Education. However, the content does not necessarily represent the policy of the U.S. Department of Education and there should be no assumption of endorsement by the Federal Government.

2. Agenda • Call to Order/Welcome • Roll Call • U.S. Department of Education • Nancy Brooks • Tennessee Department of Education • Susan Cowden • Middle Tennessee State University • Robert B. Blair • Maria L. Edlin • Courtney Starr Davis • Action Research & Associates, Inc. • Kris Juffer • Advisory Council • Sharon Anderson, Putnam County Schools • James Armistead, Tennessee Department of the Treasury • Jeannette Bennett, Federal Reserve Bank of St. Louis-Memphis Branch • Ann Berry, University of Tennessee Extension Service

3. Agenda • Advisory Council (continued) • Donald Fell, Foundation for Teaching Economics • Angie Hamsted, Project Grad Knoxville • Gary Hughes, J. T. Moore Middle School • Carla Jarrell, Pinnacle Financial Partners, Inc. • Renee Lopez, Center for Independent Living of Middle Tennessee • Foster Montgomery, Franklin High School • Jackie Morgan, Federal Reserve Bank of Atlanta-Nashville Branch • Bob Obrohta, Tennessee College Access Network • Robert Reinke, Foundation for Teaching Economics • Shari Scott, Tennessee School for the Blind • Jason Seay, Tennessee Student Assistance Corporation • Penny Shelton, Tennessee Higher Education Commission • Ann Stewart, Stewarts Creek High School • Stephen Stone, Army community Service Financial Readiness • Elaine Tilley, Educational Talent Search-Federal TRIO Grant • Ruth Woodall, Tennessee Chamber of Commerce and Industry

4. AGENDA • Minutes • Comments • U.S. Department of Education • Tennessee Department of Education • Reports • Evaluator • Middle Tennessee State University • Dissemination and Promotion • Project Branding (name and logo) • Website • Social Media • Teacher Trainings • Curriculum Development • Action Plan • New Business • Adjournment

5. Minutes • Are there any corrections to the minutes from the October 15, 2013 TNFECAS Advisory Council meeting?

6. Comments • Nancy Brooks • U.S. Department of Education • Susan Cowden • Tennessee Department of Education

7. Evaluator REPORT • Kris Juffer • Action Research and Associates, Inc.

8. MTSU Report • Dissemination and Promotion • Project Branding (name and logo) • Website • Social Media • Teacher Trainings • Curriculum Development • Action Plan

9. PROJECT Branding

10. Name and Logo • College GP$ - Goals, Problems, $olutions

11. Website http://collegegps.org

17. Social Media Facebook® and Twitter®

18. Facebook www.facebook.com/CollegeGPS

19. Twittertwitter.com/College_GPS

20. teacher trainings

21. Middle school workshops • Middle School Workshop Agenda • Connecting to the Tennessee Standards • Human Capital Exercise • College4tn.gov – Account Set Up, Interest Inventory, and Potential Careers • Career Exploration and Outlook • Goal Setting Strategies • Online Resources – Everfi • Additional Resources – GenI Revolution, Financial Football, etc. • Personal Finance Concepts and Additional Resources • Scheduled Workshops • Middle Tennessee • Wednesday, February 26, 2014 at Middle Tennessee State University in Murfreesboro, Tennessee • East Tennessee • Thursday, March 6, 2014 at the Park Vista Hotel in Gatlinburg, Tennessee • West Tennessee • TBD

22. Curriculum DEVELOPMENT

23. Curriculum Plan • Divided into four Learning Segments (Units)—Tentative • Considering My Future • My Financial Plan for Education • I’m in College! • All Grown Up-No More Spring Breaks! • Personal Financial Literacy Standards • Encompasses all 15 Tennessee Personal Financial Literacy Standards • Encompasses all of the National Jump$tart Standards • Eliminates the problem of “fitting in” the College Access and Success component as a separate learning segment/unit.

24. Considering My Future 1. Dreaming (TN 1 & 2) • What does retirement look like and why does planning for your future matter? 2. Things that Fire Me Up! (TN 3) • Interest inventory 3. When I Grow Up, I Want to Be…. (TN 3) • Possible careers/education needed for your career 4. Navigating the Roadblocks and Detours To Your Dream (TN 2 & 3) • Impediments/overcoming impediments–include economic conditions 5. Public, Private, or Vocational College? Where to Go? (TN 3) • Types of post-secondary institutions

25. My Financial Planfor Education 1. A New “Word” with Big Benefits (TN 4) • Free Application for Federal Student Aid (FAFSA) • Why, when, what, and how to complete application • Website • Student Checklist 2. Money, Money, Money (TN 4) • Grants (Pell and other), scholarships (academic, athletic, program-related, lottery, work study, etc.), 529 Plan (or other savings plan) 3. When Does Debt Make Sense? (TN 4) • Student loans 4. Hey Kid, Have I Got a Deal for You! (TN 7) • Avoiding scams–sites that want you to pay for access to scholarship information–consumer protection

26. I’m In College! 1. $10 in My Coat Pocket! (TN 13 & TN 14) • College Budget • Better Money Habits (BoA and Kahn Academy video that might be a good link) – where to live, renter’s insurance, utilities, transportation, meal plans, etc. 2. I’m FREE! Or Am I? (TN 5 & 6) • Post-college budget • What will your post-college budget look like if you amass a high level of unnecessary student loan debt? (in both college and post-college budgets consider the concepts of gross and net income) 3. Who’s Going To Take Care of My Money? (TN 8) • Now that you will be away from your hometown bank, what type of banking institution makes the most sensefor your needs? 4. I’m Worth What?? (TN 6) • Net worth • Start with scenario which provides details of things they own and debt – (Dallas Fed has video to link to under Building Wealth that is about net worth.) 5. What Do You Mean I Have 10 Credit Cards and a Home Mortgage?(TN 7) • Identity theft–(lesson would be on student designing plan to protect themselves 6. Finishing Strong • (May move this to a “Tips” page rather than making it a lesson) • know criteria for maintaining financial aid (SAP) • be successful academically • getting involved in activities on campus that will help you succeed in school • building relationships with your instructors • meeting with your advisor

27. All Grown Up–No More Spring Breaks! 1. Out of College and Raising my Score! (TN 10) • Now that you are out of college– continuing to establish credit • Pull credit report/score – what factors influence (positively and negatively) your credit score 2. Retiring My Student Loan Before I Retire(TN 4 & 10 & 12) • (May move this to a “Tips” page online and in student notebook rather than making it a lesson) • immediately contact all agencies to whom you owe money • gather all documents • understand the pros and cons of consolidating your loans • take advantage of student loan repayment programs • know when you have to start repaying your loans 3. I Need a Ride to Work!(TN 11) • Auto loans (transportation to work) 4.Making the Dream a Reality – Getting Serious About Growing Your Retirement Fund (TN 15) • 401K, 403B, stocks, bonds, mutual funds, etc…. ways to grow your money

28. Action plan Year 4 Quarter 2

29. Action plan • Website Launch-January 31, 2014 • Middle School Workshop Recruitment • Summer Graduate Course • Syllabus • Materials/Media • Recruitment • Evaluation Data Y1-3 • Curriculum Development • Advisory Council Meetings • Y4Q2-March 2014 • Y4Q3-June 2014 • Y4Q4-September 2014

30. Questions

31. Thank you! • Your support and critical feedback is sincerely appreciated! • Please let us know if you have questions or feedback to enhance the project outcomes.