Chippewa Valley Technical College’s Financial Literacy Education Program: A Study Examining Participant Financial Attitudes, Characteristics, and Changes on Student Financial Standing (SAP)

Abstract

This paper evaluates the possible impact a post-secondary financial literacy education program at Chippewa Valley Technical College (CVTC) had on participants’ financial standing. The borrowing characteristics of participants in the financial literacy education program were also examined in comparison to the post-secondary institutions' entire student body. Financial attitudinal perceptions after program participation compared to pre-participation financial attitudinal perceptions of all students were also examined. This mixed-method research found evidence through a student survey that a post-secondary financial literacy education program could impact a student’s financial attitudes. The research examined 147 CVTC students who participated in a financial literacy program. Differences in the type of program participant, self-selected or those participating through a classroom presentation, were also noted. Of the 147 program participants, 73 were classroom presentation participants, and 74 self-selected to participate in either a workshop, financial aid advising appointment, or financial coaching appointment. Results indicated minimal differences in students who participated in the Money Matters financial literacy education program and the overall CVTC student body. Data demonstrated that self-select Money Matters program participants improved their Satisfactory Academic Progress (SAP) standing and worsened their SAP standing at higher percentages than their classroom presentation counterparts. Differences in Money Matters program participants’ financial attitudes/perceptions after participation were also identified as existing compared to the institutional perceptions expressed before programming occurred.