TRIO 120 - Financial Literacy and College Costs

Credits: 2
LEC hours per week: 2
Students will gain knowledge about personal financial management, including how to develop a personal financial plan and manage their resources. Topics include identifying beliefs about money, budgeting, strategies for minimizing and reducing debt, managing credit, navigating banking and insurance products, planning and funding major purchases (such as a car or a house), retirement and tax planning, and student loan management. Students will also examine college costs and the value of a college degree obtainment as it relates to local markets and the economy, as they create a plan to fund their education. The importance of submitting the FAFSA (Free Application for Federal Student Aid), how to search for other college funding and options for repayment of federal and private student loans will be presented. Formerly: CE 120.
Course Outcomes:

Develop spending/saving priorities
Create a budget
List college/education funding issues
Examine economic forces that impact financial management and college/education decisions
Explain federal, state and local education funding sources
Develop continuing education funding plan
Identify personal assets
Create a plan for asset development
Estimate retirement financial needs and identify potential retirement income sources
Explain effect of debt on asset development

Course Topics:

Beliefs about money
Spending and saving priorities
Goals to manage spending, reduce debt and build savings
Budget development and living within budget
Planning for major purchases
Cost/benefit analysis of higher education (job markets) including student loan borrowing and repayment options and concerns
Federal, state and local higher education funding sources
Management of credit and credit score
Banking and insurance products
Tax filing requirements and deduction strategies
Long term financial planning (investment and retirement)