Colleges Increase Retention, Decrease Student Debt via Goodmoneyhabits.com

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As student debt rises and college retention rates drop, some colleges are helping students learn to manage their money.

PRWEB, March 17, 2009-- The economic crisis is affecting higher education. With fewer college students qualifying for student loans, and those with loans carrying large balances, more students are withdrawing from college for financial reasons.

Some private and public colleges and universities are taking a new approach by teaching personal financial management skills using an online personal finance program, Goodmoneyhabits.com. Missouri Southern State University, Benedictine University, and Jamestown Business College have added money management classes with Goodmoneyhabits.com to their curricula.

Goodmoneyhabits.com was created by The EDSA Group, an independent financial education company. Susan Windham, chief executive officer of The EDSA Group, says students who learn how to manage their money are more likely to stay in school and graduate, earning more money over their careers.

"It's important to teach college students good financial habits before they get deep into debt. College is the first time that most students handle money. They frequently get credit cards or take out student loans without realizing the cost," Windham says.

Goodmoneyhabits.com offers practical money management skills through online, interactive financial planning exercises and real life scenarios. Students learn to set goals, create a budget, and plan for short and long-term goals, including retirement. The program includes taxes, 401(k) plans, and investing, as well as the cost of credit and the necessity of budgeting.

"Students give the program rave reviews. Colleges are providing valuable skills their students can use now to stay in school--and take into the real world after graduation," Windham says.

ABOUT THE EDSA GROUP AND GOODMONEYHABITS.COM
The EDSA Group headquartered in Baton Rouge, Louisiana, is a national leader in financial education. It offers live workshops, one-on-one educational meetings, and an online financial education program, Goodmoneyhabits.com for individuals who want to make informed decisions about their personal finances.

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Kelly Rogers
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