What is Maroon Money Management?
In the summer of 2013, Mississippi State University was a awarded a grant through the Council of Graduate Schools, a non-profit organization supporting graduate education, and TIAA-CREF, a financial services provider, to develop a financial literacy program on our campus. This emphasis was conceived in response to the growing problem of student loan debt, now surpassing $1 trillion nationwide, amassed by undergraduate, graduate, and professional students attempting to fund their education. Maroon Money Management, Mississippi State University’s financial literacy program, was established as a collaboration between the Graduate School, the College of Business, Mitchell Memorial Library, the Department of Student Financial Aid, the Career Center, and the MSU Extension Service. The purpose of Maroon Money Management is to provide opportunities for financial education through face-to-face workshops and lectures, one-on-one counseling, and electronic resources, thereby cultivating a financially-literate student population. Students are faced with many choices as they explore ways to finance their education. Unwise financial decisions can create a debt burden and financial insecurity that follows the individual for decades. The mission of Maroon Money Management is to foster a financially-informed student population which understands the consequences of financial decisions, acts in a financially responsible manner, and prepares for a healthy financial future.
- To equip students with information to allow them to make wise personal financial decisions
- To provide balanced information about student loan opportunities along with the perils of student loan debt
- To counsel students about costs and benefits of career choices
- To provide “train the trainer” opportunities to expand financial education across the campus and community
- To develop financial education resources for dissemination to the broader community