2008 Woodie Awards
SIFE Helps Students Ease Financial Woes
Bryanna Lindblom: Muleskinner
Issue date: 3/20/08 Section: News
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Devan Dignan, president of SIFE, said this program has been established to make students aware of the economy and how to thrive in a changing economy.
"People are spending money they just do not have," Dignan said. "They are spending $1.22 for every dollar they earn."
The SIFE financial counseling service advises students in tax preparation, developing a spending plan, debt counseling, credit card reduction counseling and giving information on savings accounts.
Chelsea Miller, vice president of project management within SIFE, said there are five trained counselors in the office who can "council people on a one-on-one basis."
Each of the five student counselors are volunteers who went through a two-day training program with a representative from Waddell and Reed, a financial advising firm located in Independence, Mo. Miller said the representative fully trained the students on counseling and also provided a software program used to help students reduce debt.
Miller also said she thinks students counseling other students will have an impact on getting many on the right financial track.
Sophomore vocational agricultural education major Cheyenne Hoenshell said she would prefer this service compared to the advice of her parents.
"It's been so long since my parents have gone to college, they don't know as much on these topics," Hoenshell said.
Sophomore music technology major Thomas Wren said, although he has not heard about this program, it could prove to be a beneficial service.
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