NMSU Career Services educates students on financial literacy

April 16, 2013 by Dana Beasley, NMSU News Center

With April recognized as Financial Literacy Month, New Mexico State University Career Services is participating in a national initiative to increase personal finance knowledge and raise awareness about the importance of that topic.

This issue is especially important for students taking out student loans or those accumulating credit card debts, as they are often not properly educated on the consequences and fiscal responsibility that go along with managing their finances.

“When you’re young, the thought of tomorrow is: ‘I’ve got plenty of time.’ But if you aren’t paying attention to how much money you’re borrowing, you become trapped by some choices you made at a very young age that may impact you for the rest of your life,” said Roseanne Bensley, associate director of Career Services and Financial Literacy Fair event coordinator.

In order to educate students of the significance of being financially literate, NMSU’s Red to Green Money Management Program will host a Financial Literacy Fair, sponsored in part by Wells Fargo. The Financial Literacy Fair will take place from 10 a.m. to 3 p.m. April 17 on the first floor of Corbett Center Student Union.

“Wells Fargo is proud and honored to partner with NMSU on this important life skill ¬– financial literacy. There is no better time than right now to get financially fit,” said Berna Holzman, vice president and community banking district manager in Las Cruces.

Multiple businesses involved in finances – banks, credit unions, investment firms and debt management companies – will be in attendance at the fair. These organizations will provide resources related to financial literacy such as information about identity theft, credit score and reports, responsible use of credit cards, student financial aid and investments.

“What we’re trying to educate students is that your FICO score is just as important as your academic GPA,” Bensley said. “Understanding all of this now will only help students make wiser choices; this is going to have a major impact on their future.”

For students who are unable to attend the Financial Literacy Fair, or those who would like to further their financial literacy education, NMSU Career Services has partnered with Inceptia to offer a free, self-paced tool called Financial Avenue that can be accessed through careerservices.nmsu.edu.

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