OSFA Information Memorandum No. FY08-09
Distributed via Campus Announcements and Financial Aid Web Page
Memorandum
TO:
University Students, Faculty, and Staff
FROM:
Carlos Clark, Ph.D.
Assistant Provost for Student Financial Aid
DATE:
March 14, 2008
RE:
Mandatory Financial Literacy Counseling
Introduction
Beginning fall 2008, before financial aid (i.e. scholarships, state aid, waivers, and federal aid) is awarded; financial aid recipients at Prairie View A&M University ARE REQUIRED to complete the web-based USA Funds “Life Skills” financial literacy modules each year.
Purposes
The purposes for this policy are as follows:
Improve student knowledge of the importance of good personal finance habits (i.e., How to develop a personal budget?);
Improve student awareness of identity theft and how to prevent it;
Explain the importance of maintaining a good credit score and assist students with understanding how to read their credit report;
Reduce the University’s Federal Student Loan Cohort Default Rate (currently 11.4%).
Instructions
Go to www.pvamu.edu/faid;
Go to the “Financial Literacy Program” section;
Click on your classification for fall 2008. For example, if you are scheduled to be a junior beginning fall 2008 then you would click on “Undergraduates”
Below the LOGIN button, click on “New User? Please Register”
Provide necessary demographic information;
Select appropriate classification (your classification for the fall 2008 semester);
Please remember, before the AWARD HOLD is removed, you MUST COMPLETE ALL of the modules associated with your classification!
