Understanding USI's new Student Financial Success Center

As USI continues efforts to improve student success and retention, the University has established a new, free resource for students who need help navigating finances: the Student Financial Success Center (SFSC).

The creation of the Student Financial Success Center and the launch of USI's Financial Care Team are part of a comprehensive strategy to help students meet their financial commitments to the University, alleviate unpaid balances on student accounts and become empowered to gain life-long financial literacy skills.

"Just as USI provides the Recreation, Fitness and Wellness Center, nature trails, the University Health Center and other activities to promote physical wellness, and the Counseling Center to encourage mental and emotional health, the Student Financial Success Center helps students achieve financial wellness, which is closely tied to overall health," says Jeff Sickman '93 M'00, controller and assistant treasurer.

USI faculty and staff can play an important role in helping students achieve financial wellness and academic success by understanding the resources available through the Student Financial Success Center and referring students to it.

What is the Student Financial Success Center?

• The Student Financial Success Center provides peer mentoring and support services to advance financial literacy and wellness among students, their families and community members to promote student retention and success.

Where is the Student Financial Success Center located and when is it open?

• The SFSC is located in the lower level of the Orr Center, Room 0095. It is open from 8:45 a.m. to 4 p.m. Monday through Thursday and 8:45 a.m. to 2 p.m. on Fridays. Walk ins are welcome, but students may also fill out a client intake form and schedule an appointment.

Why was the Student Financial Success Center created?

• While the Financial Care Team will focus on students' short-term financial needs, the Student Financial Success Center will focus on long-term solutions. It provides educational resources and ongoing support to change financial patterns and outcomes among students so they may achieve financial wellness, both during and after their time at the University. The SFSC wants to help students meet their financial obligations to the University so they remain enrolled and achieve their educational goals, while equipping students with a life skill that will serve them in the future.

Who works in the Student Financial Success Center?

• The Student Financial Success Center is led by Dr. Shawn Robey, student financial success specialist. Currently, the SFSC employs three peer mentors and plans to add a fourth mentor for the fall 2020 semester.

How does the Student Financial Success Center work?

• Students submit a "Become a Client" form located on the SFSC website, USI.edu/financial-success, or visit the office in the lower level of the Orr Center to schedule an initial meeting.
  
  
• Students can choose to meet with Robey or a peer mentor during the three-phase mentoring process, which includes an initial meeting, plan implementation and follow-up.
  
  
• In addition to one-on-one ongoing support, students gain access to online supplemental resources, which will help them gain a deeper understanding of the SFSC's goals.
  
  
• The online materials allow the SFSC to see if the client is doing their part and identify potential areas of further educational need. This information is then used to tailor follow-up meetings based upon the client's specific needs.
  
  
• The SFSC serves as a financial advocate for students. For example, students working with the SFSC in order to meet their financial obligations to the University might qualify for special payment arrangements with the Bursar's Office. The SFSC can help students communicate with the Bursar's Office and connect students with other offices on campus for additional financial and non-financial resources. 
  
  
• The SFSC website offers financial wellness resources, including money-saving tips, developed by students, for students.
  
  
• Thirty-minute presentation requests are also available via the "Request a Presentation" link. The SFSC offers standard presentations and customized presentations on topics related to financial literacy and wellness.
  
  
• In its first year, the SFSC is focusing on student outreach. In the future, services may be expanded to the parents of incoming students and the local community to give students and families the skills they need before they enter college. In addition, the center plans to offer limited mentoring services to employees to promote a culture of financial literacy and wellness on campus. This will help employees and will help student mentors gain more experience, which will improve the services rendered to students.