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Inceptia continues to examine student financial behaviors with the newly released “State of Student Finances 2021: Multiyear Comparisons and Pandemic Effects.”

Expanding on our original research from 2018, this new data is based on over 65,000 student surveys from across the country over an almost three-year period. Not only does this snapshot allow for a year-over-year comparison, but the data also reveals the real-time effects of the pandemic on behavioral shifts:

• A 10% increase in those with fully-funded emergency savings
• A 12% jump in obtaining credit reports
• A six percent increase in calculating retirement needs

For more findings and recommendations on how to interpret the research, click here for the research brief. You may also watch our webinar recording.

Students are responding to the pandemic’s financial uncertainty by seeking out information – meet their needs with Financial Avenue, Inceptia’s online financial education program. With courses like Foundations of Money, Credit and Protecting Your Money, and Spending and Borrowing (and more!), we are a one-stop resource for student financial empowerment. Request more information here.

NEFE recently announced that their financial literacy program, CashCourse, will be retired at the end of the current academic year. For the colleges and universities relying on this program to fulfill their financial education goals, Inceptia invites you to explore our program, Financial Avenue, as your new financial education curriculum.

Learn more about Financial Avenue:

• Review our Learning Objectives
• Request a demo account
• Register for our virtual demo on Tuesday, June 8 @ 12:00 p.m. CT
• Hear what students and staff at the University of at Nebraska Kearney enjoy most about using Financial Avenue

Special pricing will be available to those who purchase Financial Avenue by July 31, so please contact us today to make the switch. We look forward to working with you in finding a new solution to meet your financial education needs.

We know summer melt is a reality – that time between high school graduation and the fall semester, or the spring and fall semesters when students who have otherwise completed most major hurdles to get or return to college mysteriously fall off the radar. It could be just one incomplete task that throws a student off course.

According to NCAN research, the first roadblock is that many of these students may not even know that the FAFSA is an option, usually because they:

• Are first-gen college-goers and/or may go to a school that lacks resources to provide this information.
• Have the misconception they are not eligible for aid because of their credit.
• Think aid only consists of loans and they are averse to taking on debt.
• Think the FAFSA is too complicated.

What it really comes down to for most of the 45% of non-filers is that they are lacking FAFSA education. For the 2021 high school class, FAFSA completion is still down 8.2% from last year.

Promoting the benefits of early FAFSA completion is a purposeful connection to make with your students so they know it’s an option. Completion then leads to awarding financial aid, answering more in-depth questions, allowing time for school decisions and planning, and verification if they should be chosen. Learn more about FAFSA Completion Outreach.

Connecting with students during critical decision-making times can be the difference between if, when, and how they take their next steps in their educational career. Proactive outreach solutions can help you reduce melt and student anxiety while promoting school connections and enrollment. To give you a head start, we’ve developed targeted outreach plans to help you deliver specific messages to your students and prospective students depending on where they are in their college career.

• New & Returning Students – Communicate reminders of important next steps and deadlines.
• Withdrawn Students – Encourage return, determine intent and gather data.
• Verification Completion – Emphasize the importance of verification completion and answer questions.
• Summer School Attendance – Promote benefits of summer school attendance.
• FAFSA Completion – Nudge for earlier completion, answer questions and provide tools.

Help your students make smart money moves with these free resources.

Though some conferences* have moved to in-person this season, many remain virtual and despite the setting, we want to talk with you! Check out the shows our Business Development Team will be by clicking their name for show dates, details, and resources.