Financial Literacy Workshop Implementing Your Program

1. Financial Literacy WorkshopImplementing Your Program Module 4 of 4 DRAFT

2. Workshop Objectives • Discuss steps and identify needs for program implementation • Examine and establish mechanisms for successful roll-out • Customize and finalize your action plan

3. Steps for Program Implementation • Review and refine the program • Cascade your action plan • Put mechanisms in place to implement the plan • Fund the program • Track performance, fine-tune,and expand

4. Review and Refine the Program • Finalize goals of your program • Strengths you plan to utilize • Type of program you will implement • Materials and resources

5. “Cascade” Your Action Plan • Obtain resources and materials • Staffing needs • Training needs • Delivery mechanisms • Scheduling • Communication • Measurement

6. Obtain Resources and Materials • Will you develop new materials, or use existing? • Are you using one resource, or multiple? • How will you organize your materials?

7. Staffing • Recruit a program development and rollout team • Identify all the roles that will need coverage • Involve team early for commitment and buy-in • Specify who’s doing what • Establish tasks and accountability • Specify decision-makingauthority

8. Staffing Options - Build Your Team

9. Recruit Existing Staff • Financial aid professionals • Office of student affairs • Career center • Student business services • Residence life • Admissions staff • Enrollment office • Student health services • Academic Deans • Office of the President

10. Get Institutional Buy-in • Academic Deans • Office of the President • Office of student affairs

11. Network and Create Partnerships • Alumni groups • Student organizations • Business schools • Athletic organizations • Local businesses • Financial advisors • Banks • Insurance companies • Non-profit groups • Local and state government agencies

12. Maintain Active Servicer Relationships Partner with Federal Loan Servicers • Servicers have a wealth of products and services they can make available • Can involve them in face-to-face meetings on campuses • Early and frequent servicer communication is key to default prevention

13. Assemble Volunteers and Interns • Peer-to-peer coaching has proven very successful • Individual volunteers from the community • Interns need experience

14. Benefits of Staffing With Volunteers • People relate to peers with shared experiences • Positive role models exhibiting practical & worthwhile behaviors encourages the same • Those with positive peer-to-peer counseling experiences often are willing to counsel others • Provides beneficial skill development for counselors • Skills acquired by coach can be applicable to careers: • Social Worker • Certified Financial Planner • Career Planner • Accountant • Teacher

15. Training Your Staff

16. Training Concerns to be Addressed • Identify roles and determine best method(s) of training • Who will train staff • How often will staff be trained • What training method(s) will work best • Where can training take place • Assign authority and accountability

17. Training Methods for Staff • Live training • Lectures • Small group sessions • Interactive sessions • “Brown bag” sessions • Online • Webinar • Self-paced learning maps on website • Videos • Train-the-trainer • Certification

18. Delivery Mechanisms & Requirements • Access and availability of physical location(s) • Content production and distribution • Procedures and channels for managing access and communications • Technical administration and support • Fees, approvals and certifications • Troubleshooting: Identify anything that can go wrong!

19. Scheduling • Identify key scheduling constraints and requirements for program components • Backtrack to identify milestones and dependencies • Correlate the program schedule with your school’s academic calendar • Start small!

20. Communication Planning Review your program’s audiences and key stakeholders. • What messages are needed? When? • What input would be useful? How will you collect it? • What are their primary drivers and concerns? Remember, communication is a two way street.

21. Develop Your Messages Use your target audience profile(s) to develop a message map. • What does each audience think and feel about topics you plan to offer? • What key behaviors do you wish to reinforce? • What messages will be most compelling to each? • When will specific messages resonate the strongest?

22. Funding Options

23. Funding: University Resources • Administrative Budget • This looks different from school to school • Look for cost-effective ways to get out the message • Initial cost in setting up but then low-cost to maintain • Look for local talent willing to volunteer time and services • Fundraising Activities • Community groups • Alumni

24. Funding: Outside Resources • Government • Resources available at state and federal levels • Non-government • Local businesses and community groups • Free resources

25. Cost-Effective Ways to Implement Programs • Use free resources • Take advantage of in-house experience • Online resources center • Social networking to promote services • Peer counseling • Student volunteers • Student-run organizations • Treat financial literacy as necessary part of student and community services • Partner with community

26. Develop Program Measures • Establish metrics • Define objectives that are specific and measurable • Identify outcomes and indicators • Set timeline to track progress • Develop processes to measure performance • Quantitative • Surveys • Pre-tests and post-tests • Follow-ups • Qualitative

27. Implement in a Cycle • Implement program in stages • Assess and acknowledge progress • Celebrate successes! • Document and assess challenges • Reevaluate and refine program goals for sustainability • Update and revise action plan • Make necessary logistical adjustments • Expand and institutionalize

28. What to Expect Next • Put your plan into place • Monitor progress • Evaluate results and adjust

29. Tools for this Module • Action Planning Document for Module 4

30. FSA Resource List for Workshop • FSA Website https://studentaid.ed.gov/ • FSA Financial Aid Toolkit http://financialaidtoolkit.ed.gov/tk/ • FSA PowerPoints: • Financial Literacy PowerPoint • Financing Your Education • Loan Counseling Tools • White House Financial Capability Toolkit