On Tuesday, new students walked in groups at the University of North Texas for orientation. Some of their most important lessons won't come in the classroom. That's why the UNT Financial Wellness Program exists.
"The formula for college success today is two factors; grades and money," UNT Student Money Management Center Director Paul Goebel said. "I think it's facing new financial responsibilities and expectations that sometimes can trip up students on their path to college completion."
The UNT Financial Wellness Program helps bridge the financial education gap, helping teach students everything from managing student loans to setting budgets.
"Pursuing a college education is expensive and they need to understand, how they develop the skills to identify and secure the funding," Goebel said. "More importantly, to manage those funds so they have a long-term strategy that will take them from the first semester to the graduation stage."
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Goebel started the program at UNT years ago when it was one of the first of its kind. He's since helped more than 200 schools open similar centers for their students.
"It's important because we're only going to be in these tin walls here at UNT for so long," UNT '23 graduate Elandra Collins said. "There's life after college!"
Collins used the services at UNT's Student Money Management Center. She was also a student peer counselor at the center, helping other students navigate financial issues.
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'Being able to pay bills. Being able to build your credit. Being able to pay back your student loans, which a large majority of students have," Collins pointed out. "That's something that we really, really try to help our students have the knowledge for."
According to the Texas Higher Education Coordinating Board, 40% of UNT students today graduate with no debt. About 75% of UNT students receive financial aid and scholarships.
"That's a sense of empowerment," Goebel said. "We want all students to experience that sense of empowerment, not only when they're with us, but also more importantly when they leave us."
