Insight Newsletter
April 1, 2021
Inceptia Releases Findings of Student Finance, Pandemic Effects Survey

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.


Chart a New Course with Financial Avenue

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:

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.


Connecting the FAFSA Dots

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 to Impact Decision Making

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.


It’s National Financial Literacy Month!

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

2021 Edition of “Great Advice for Grads” Focuses on Resiliency, Adapting

Great Advice for Grads” is our annual free e-guide developed collaboratively with the personal finance site NerdWallet to provide timely information to help graduating students navigate financial and career choices.

While these topics have been central to previous editions of the e-guide, this year’s publication is sensitive to the unique questions and struggles students may currently face.

The 2021 “Great Advice for Grads” focuses on adapting and strategy, covering topics such as:

  • Strengthen Your Financial Resilience With These 3 Insights
  • How to Handle College Loan Debt as an Unemployed Recent Grad
  • 4 Expert Tips to Get Hired From Home
  • 6 Great Recession Money Lessons That Still Apply Today

As part of our non-profit philanthropic mission, Inceptia makes “Great Advice” available as a free download for students, families, educators and all others who advocate for student financial education.

Upcoming Webinars
Wednesday, April 14 · 12:00 p.m. CT
Explore proven strategies for promoting FAFSA completion, and the free, turnkey resources available to build a comprehensive communication plan. We’ll also hear a case study from the State University of New York System regarding best practices for FAFSA outreach and what works (and doesn't!) when hosting events.
Join us for a TweetChat
Thursday, April 22 · 11:00 a.m. CT
Alongside NerdWallet, we share our best advice for college graduates! We'll cover everything you need to know about student loan repayment, loan forgiveness, refinancing, grad school, and more! Join us by using #GradChat21 or follow along with @Inceptia.
Wednesday, April 21 · 11:00 a.m. CT
For students preparing to graduate, don’t plan to return to school, or will drop below half-time enrollment, we encourage you to invite them to this student-centered session. We will cover the basics of student loan repayment, share exit counseling concepts and leave time for questions that will be answered by an expert.
The More You Knowl Site
We’ve taken the best of our videos, calculators, tutorials and more to create a one-stop-shop for jumpstarting the personal finance journey

We'll "See" You There

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.


*Dates subject to change at the discretion of the conference.

We're looking for your opinion!
With the passage of the recent COVID stimulus package, do you need help contacting your students about the importance of utilizing potential HEERF funds if they have outstanding balances/noting implications due to leaving college with money owed? If yes, we’d like to hear from you. Click here to have a team member get in touch with you.

 

NEWS & EVENTS

Webinar: Getting Ready for Student Loan Repayment (replay)

September 22, 2021

End date: October 6, 2021