October 2004
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Using Technology to Provide Financial EducationMark Oleson IntroductionFinancial problems permeate the lives of many of the families that Extension employees work with. The role of a Family Resource Management Extension Specialist is to disseminate financial information to families. Iowa State University Extension, along with the Iowa State University Financial Counseling Clinic, discovered an effective, educational way to utilize technology in accomplishing this mission. Financial Tip of the WeekPerhaps the easiest way to disseminate the greatest amount of information, in the quickest amount of time, reaching the largest audience, is through technology. The Internet, e-mail, and distance education have opened windows of learning opportunities that several years ago seemed unimaginable. The Internet is a tremendous opportunity to offer select information to individuals who can absorb the information in a non-threatening environment at their own pace. One creative example of using technology to spread financial literacy is the weekly financial tips provided by the Iowa State University Financial Counseling Clinic (Clinic). Three years ago, with the permission of the Registrars Office, the Clinic broadcast an e-mail to newly admitted ISU students outlining the specific financial services and resources available at the Clinic. The message also contained instructions for interested students to subscribe to receive weekly financial tips. Over those three years, the list has grown to over 40,000 recipients. The three largest recipient groups are:
E-mail has proven to be a cost-effective way to provide useful financial advice (financial topics such as credit, credit cards, setting goals, managing student loans, beginning investing, etc.), information about financial services (including other campus and community resources), workshops, and other available educational/learning opportunities. This has created many unique opportunities for collaboration and closer working relationships with other campus organizations and Extension educators. Interested individuals can subscribe to the weekly financial tip several ways:
Sampling of Feedback on from Students
Sampling of Feedback from Non-Students
Sampling of Feedback from Extension Educators
ConclusionEducation is the most basic and essential component of the Extension mission. Iowa State University Extension has uncovered one way of using technology to bring financial education to the homes of individuals and families in an easy, economical, non-threatening way. Initial feedback from the program suggests the information is used not only for personal gain, but also by Extension educators in various programs and efforts. ReferencesBlair, A. D. (1997, November/December). A high wire act: Balancing student loan and credit card debt. Credit World, 86(2), 15-17. Manning R. D. (2000). Credit card nation: The consequences of America's addiction to credit. New York: Basic Books. O'Malley, M. (2000). Educating undergraduates on using credit cards. Retrieved from: http://www.nelliemae.com/library/cc_use.html Oleson, M. (2002). Student credit card debt in the 21st century: Options for financial aid administrators. Journal of Student Financial Aid, 31(3), 35-44. This article is online at http://www.joe.org/joe/2004august/tt5.shtml. Copyright © by Extension Journal, Inc. ISSN 1077-5315. Articles appearing in the Journal become the property of the Journal. Single copies of articles may be reproduced in electronic or print form for use in educational or training activities. Inclusion of articles in other publications, electronic sources, or systematic large-scale distribution may be done only with prior electronic or written permission of the Journal Editorial Office, joe-ed@joe.org. If you have difficulties viewing or printing this page, please contact JOE Technical Support. |