Financial Education Literacy

A large percentage of the Bowie State students receive financial aid. Of those students receiving financial aid, an overwhelming majority are using federal student loans to pay for their college education. BSU realized this fact, as well as the national college trend of increasing student debt. Many of these students are using student loans for more than just their education or living expenses while in college. Students often use their student loan refund money to go on trips, shopping sprees, purchase new cars, electronics, and other items beyond their means. In addition, students were opening and using multiple credit cards.

While we are still determining a more comprehensive approach to educate students more about these long lasting decisions, we’ve implemented an approach to better educate students about financial literacy.Our goal is to improve the financial well-being of our students by providing tools to achieve financial independence. The learning objectives are as listed below:

  1. Help student develop a realistic understanding of their financial situation; 
  2. Develop an appropriate budget and spending plan to meet their needs;
  3. Learn how to understand, establish, and maintain good credit (i.e. credit score); 
  4. Plan for life and financial obligations while in college and beyond; and 

Through a collaborative campus wide partnership the University provide the following efforts to raise awareness:

The Division of Student Affairs 

  • To increase awareness periodically invites individuals to campus provide workshops for students on Financial Education/Literacy.

Bowie State University offers FINANCE 222 (Personal Finance), a 3 credit course, each spring Semester:

  • This course focuses on the development and management of family income and the critical analysis of the potential benefits and associated cost of a particular financial decision. This course also emphasizes both short- and long-term financial goals. Issues to be examined include, but are not limited to, the development of a personal budget, efficient use of financial institutions and credits, strategy for financing both consumer expenditures and consumer durables, and, finally, building a financial future in terms of an efficient financial investment portfolio.

The Department of Career Services partners with employers to offer one- on- one sessions on Financial Education/Literacy. 

Financial Education/Literacy Information packages are provided at New Student Orientation Sessions as well as during Parent Orientation Sessions 

Financial Education/Literacy is introduced to all students during the Freshman Year Experience Course