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Clarkson University Joins Program to Incentivize Financial Savvy in Students & Recent Alumni
Clarkson University has teamed up with SALT, a groundbreaking educational program designed to incentivize financial savvy in college students and recent alumni.
SALT is a dynamic, multichannel educational program that spans financing higher education and successful management of student loans, through the many financial decisions which students face after they leave school. SALT educates, empowers and engages college students and young adults to truly own their finances, by making it immediately rewarding, easy and fun to make smarter student loan and financial decisions.
“Clarkson University is excited to join the SALT movement because we believe in the program’s principles of education and empowerment to position students for financial success,” said Clarkson Director of Financial Aid Pamela Nichols. “We are committed to playing our role in ensuring that students and alumni have access to critical education debt management and financial education services.”
SALT uses a variety of channels to meaningfully engage student and alumni members and positively influence behavior. Members receive proactive communication about student loan repayment options; one-on-one repayment counseling with student loan experts; a personalized online dashboard to track all their federal and private student loans in one place and compare payment options; a highly interactive Web financial education curriculum and other educational content; multiple “self-serve” Web tools and calculators to assist with budgeting; in-person group financial education training at their higher education institution; advocacy and assistance with resolving complex student loan related problems; and meaningful benefits and incentives relevant to either the higher education experience or to the financial needs they face after completing college, such as assistance with job/internship and scholarship searches.
SALT was created by American Student Assistance (ASA), a 56-year-old nonprofit that empowers college students and alumni to successfully manage and repay their student loan debt.
Clarkson joins a growing number of higher education institutions nationwide that have already signed on to the SALT movement. SALT schools’ students and alumni automatically become SALT members and gain full access to the program’s services. Multiple administrative offices on campus, from financial aid and the bursar to student affairs, alumni and development, will actively partner with ASA on a year-long “Get on the Money” campaign to drive SALT awareness and engagement among on-campus students and alumni.
Clarkson's activities include incorporating SALT’s financial literacy program, My Money 101, into the first-year student seminar class. ASA trained peer mentors will work directly with new students demonstrating how to utilize SALT and the range of services SALT offers. Information to students and alumni will be provided at the fall career fair, and reunion and homecoming weekends.
Consistent with its public purpose mission, ASA is committed to offering SALT services free of charge to student and alumni members whose higher education institutions participate in the program. In order to do so, ASA has established a contribution-based model whereby ASA seeks to engage multiple stakeholders interested in student success, including federal or state government entities, colleges and universities, foundations or other non-profit organizations and corporate sponsors, to contribute to the overall cost of delivering service.
American Student Assistance is a Boston-based nonprofit with a public purpose mission that’s never been more needed: Help college students and alumni successfully manage the debt that comes with higher education today. In support of our mission, they are sparking a movement to incent financial savvy in young adults -- and creating a more financially literate citizenry along the way. ASA was established in 1956 and is based in Boston, Mass. Visit www.asa.org for more information.
Clarkson University launches leaders into the global economy. One in five alumni already leads as a CEO, VP or equivalent senior executive of a company. Located just outside the Adirondack Park in Potsdam, N.Y., Clarkson is a nationally recognized research university for undergraduates with select graduate programs in signature areas of academic excellence directed toward the world’s pressing issues. Through 50 rigorous programs of study in engineering, business, arts, sciences and health sciences, the entire learning-living community spans boundaries across disciplines, nations and cultures to build powers of observation, challenge the status quo, and connect discovery and engineering innovation with enterprise.
[A photograph for media use is available at http://www.clarkson.edu/news/photos/salt-logo.jpg .]