FBC Workshop

This webpage will contain all of the resources you need to succeed on your business writing assignment. By the end of the third week of class, you will have all of the information you need, including:

The assignment will be due on Friday, October 4th by 11.59pm CT on Blackboard. Please upload your file to Blackboard as a .pdf or as a .doc or .docx file so that our graders can open your file. No late work will be accepted, and files not submitted properly (Google Doc, Pages, screenshots, etc.) will automatically receive a failing grade. We also request that you upload the file rather than posting a OneDrive/Microsoft link. We will not open these links and will also fail these submissions automatically.

 

The Assignment:

Scenario:

You have been hired by leadership from the University of Arkansas’s Student Success office as an external consultant to address a growing concern among its student body regarding financial literacy. Recent feedback and surveys indicate that a significant number of students feel they are graduating without adequate financial literacy, which is impacting their confidence in managing personal finances, student loans, and future investments. This lack of financial preparedness is concerning as it affects student retention, student well-being, and life decisions during and after graduation.  

The leadership from Student Success was surprised at the level of student concern over this issue since the university already provides financial literacy services and assistance that students may use and has many courses on the subject, including “Your money and your credit” (FINN 10003) and “Personal finance management” (FINN 30003). Given the gap between services available and student awareness, you should research the current financial literacy programs and services available at the university. 

Your task is to write two recommendations on what additional resources—whether they be courses, workshops and outside speakers, online trainings, social media posts/videos, or something else entirely—the university might provide to further improve students’ financial literacy.  *Note: you are allowed to have one recommendation focus on improving an existing resource the university has via doing something new or additional to promote that existing resource.

In your analysis, consider the diversity of the student population, including international students and those from varying socio-economic backgrounds, who may have different levels of prior knowledge and access to financial education resources. 

Your brief should provide a detailed examination of the current state of financial literacy education at the University of Arkansas, highlight the specific needs and concerns of the student body, and propose at least two targeted recommendations for improving financial literacy programs. Each recommendation should be well-supported by research and tailored to enhance the financial well-being of current students, ensuring they develop the skills necessary to navigate their financial futures confidently. 

 

Guidelines:

Your brief must be articulate and professionally formatted, adhering to the following specifications: 

  • Margins: 1" 
  • Font: 12-point Times New Roman or Arial 
  • Spacing: Single-spaced 
  • Additional Requirements: Include a references page and 4 in-text citations in APA format 
  • Submission Deadline: Submit by the specified date on Blackboard as .doc, .docx, or .pdf format only. No Pages or Google Docs, nor may you simply drop a OneDrive link. Submit the actual file. 

University Resources to Review:

These university-specific resources as well as tips on research in general may help guide your research.

  1. Research on the impact of financial literacy on college students' future financial stability 
  2. Comparisons of financial literacy programs in peer institutions 
  3. Data on student loan debt and management for college students 
  4. Feedback from University of Arkansas students about their experiences and needs regarding financial education. 
University of Arkansas Resources: 

University of Arkansas Catalog of Studies (n.d.) Finance (FINN) Courses. https://catalog.uark.edu/undergraduatecatalog/collegesandschools/sammwaltoncollegeofbusiness/finance/#courseinventory

University of Arkansas Student Success. (n.d.). 360 Program. https://success.uark.edu/about-us/360-program.php

University of Arkansas Student Success. (n.d.). TRIO. https://success.uark.edu/about-us/trio/

Westeen, K. (2023, October 12). Ayala-Barker Hired into New Student Financial Literacy and Academic Success Advocate Role. UARK News. https://news.uark.edu/articles/66531/ayala-barker-hired-into-new-student-financial-literacy-and-academic-success-advocate-role 

Resources from Other Universities:

Auburn University. (2020, October 13). Finical Learning Center. https://www.auburn.edu/academic/provost/financial-wellness/financial-learning-center.php 

Auburn University. (2022, April 19). Financial Wellness. https://www.auburn.edu/academic/provost/financial-wellness/ 

Clemson University. (n.d.). Financial Wellness. https://www.clemson.edu/financial-aid/how-aid-works/financial-wellness-resources/index.html 

Kansas State University. (2024, August 2). Powercat Financial. https://www.k-state.edu/powercatfinancial/ 

Oklahoma State University. (n.d.) Financial Literacy. https://osuokc.edu/osuokccents 

References:

Briley, Liv. (2024). Personal finance education is lacking in American schools. The Daily Mississippian. https://thedmonline.com/personal-finance-education-is-lacking-in-american-schools/

EDSCOOP Staff. (2023). University support services disjointed, poorly advertised, finds report. EDSCOOP.https://edscoop.com/university-student-support-services/

Ezarick, Melissa. (2022). Where the Weaknesses Are in Student Financial Wellness. Inside Higher Ed.https://www.insidehighered.com/news/2022/02/25/survey-college-students-need-help-financial-literacy

Financial wellness hub helps students prepare for life after ECU. (2021). University Wire.https://www.proquest.com/wire-feeds/financial-wellness-hub-helps-students-prepare/docview/2490833008/se-2

Hirsch, Paddy. (2023). The case for financial literacy education. Planet Money. National Public Radio. https://www.npr.org/sections/money/2023/05/16/1176189034/the-case-for-financial-literacy-education

Jacobsen, C., & Correia, J. (2019). Analysis of Financial Literacy in a College Population. Journal of Higher Education Theory and Practice, 19(4). https://doi.org/10.33423/jhetp.v19i4.2197 

Kafka, Alexander C. (2020). Why More Colleges are Teaching Financial Wellness. The Chronicle of Higher Education. https://www.proquest.com/docview/2639983307?accountid=8361&parentSessionId=JEOffkVHFJKXbOHX42W2bi7iODrC00nOrEth%2FQjBYao%3D&sourcetype=Trade%20Journals 

Kiernan, John S. (2024). Most & Least Financially Literate States (2024). WalletHub. https://wallethub.com/edu/most-and-least-financially-literate-states/3337https://wallethub.com/edu/most-and-least-financially-literate-states/3337

Meineke, Michelle. (2024). Can you answer these 3 questions about your finances? The majority of US adults cannot. World Economic Forum. https://www.weforum.org/agenda/2024/04/financial-literacy-money-education/

Mowreader, Ashley. (2023). Lack of Awareness Causes Students to Fall Through the Cracks. Inside Higher Ed. https://www.insidehighered.com/news/student-success/college-experience/2023/07/20/survey-college-students-dont-know-about-support.

Wells Fargo. (2024). Two-thirds of Americans have decreased spending due to economy. Wells Fargo Money Study Finds. https://newsroom.wf.com/English/news-releases/news-release-details/2024/Two-thirds-of-Americans-have-decreased-spending-due-to-economy-Wells-Fargo-Money-Study-finds/default.aspx

Schwartz, Shelly. (2016). US Schools get failing grade for financial literacy education. CNBC. https://www.cnbc.com/2016/01/28/us-schools-get-failing-grade-for-financial-literacy-education.html

Smith, Mark R. (2020). Are we failing financial literacy? Business Monthly. https://bizmonthly.com/news/business/finance/2020/12/are-we-failing-financial-literacy/

Wood, Sarah. (2022). Financial Literacy: What College Students Need to Know. U.S. News & World Report. https://www.usnews.com/education/best-colleges/paying-for-college/articles/financial-literacy-what-college-students-need-to-know