Media Alert
SPELMAN STUDENT EDUCATES PEERS TO BE MORE ‘CREDIT-WISE’
ATLANTA (Sept.19, 2008) Students at Spelman College are beginning another semester of academics and preparing for everything that follows graduation, but this year one student will help her peers add one more subject to their studies: financial literacy.
Michelle Jenkins, a junior at Spelman, will lead a semester-long campaign this fall to teach students how to responsibly manage their finances and their credit cards. Jenkins was selected by MasterCard Worldwide to be a student intern for “Are You Credit Wise?” a national financial literacy program celebrating its 10th anniversary this year which utilizes a peer-to-peer teaching model to educate college students on important money management skills. The “Are You Credit Wise?” peer-to-peer method increases the program’s effectiveness, as college students are more inclined to listen and act upon information coming from their peers.
Jenkins is one of 12 college students selected by MasterCard to lead financial literacy programs this semester. In August, MasterCard provided the interns with a two-day training workshop on key program techniques, including event planning and partnership development skills to increase the reach and effectiveness of each student’s efforts.
“MasterCard is confident Michelle’s talent, energy and passion for financial literacy will be an asset to her peers at Spelman by strengthening their budgeting and credit management know-how,” said Patrick Dwyer, vice president for global public policy at MasterCard Worldwide. “MasterCard has a long commitment to increasing financial literacy rates among college students and is proud of the progress “Are You Credit Wise?” has made to bring financial management information to young people.”
“Participating in the “Are You Credit Wise?” internship was such a rewarding experience because the tips and information the program provides empowered my peers to take control of their personal finances,” said Sarah Billiter, former “Are You Credit Wise” intern who was also a featured as a guest speaker at the U.S. Department of Treasury Financial Literacy and Education Summit. “They were able to understand for the first time how their credit histories dictate their financial futures, and how to take steps to practice smart money management.”
Throughout the fall semester, Jenkins will lead a variety of on-campus activities including conducting interactive presentations, distributing educational materials and working with campus organizations and administrators to increase financial literacy among Spelman’s student body.
“I am thrilled to have the opportunity to raise financial literacy awareness by bringing the “Are You Credit Wise?” program to my peers this fall,” said Jenkins. “Managing personal finances is an important life skill that we will carry throughout our academic and professional careers.”
The program has been executed on nearly 70 campuses in the United States and Canada, reaching an estimated 425,000 students. Campuses represented in this year’s class include: Boston University, Bowling Green State University, Eastern Connecticut State University, Florida A&M, Johnson and Wales University, Johnson C. Smith University, Marquette University, Michigan State University, Penn State University, Purdue University, Spelman College, St. Cloud State University, and the University of Florida.
All information distributed by the 12 interns will be exclusively educational and devoid of any marketing material. Among the financial literacy tips that students will share with their peers are:
• Create a budget so you know what you can afford.
• Pay your bills on time, every month.
• If you can’t afford it, don’t purchase it with a credit card.
• Pay more than the minimum balance on your credit card, or pay it off completely each month.
• Avoid interest charges as often as possible.
•Check your credit report and correct any inaccuracies annually.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 16 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
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Spelman College:
Founded in 1881, Spelman College is the only historically Black college in
the nation to be included on the U.S. News and World Report's list of top
75 "Best Liberal Arts Colleges — Undergraduate," 2005. Located in Atlanta,
Ga., this private, historically Black women's college boasts outstanding
alumnae, including Children's Defense Fund Founder Marian Wright Edelman;
U.S. Foreign Service Director General Ruth Davis; authors Tina McElroy Ansa and
Pearl Cleage and actress LaTanya Richardson. More than 83 percent of the
full-time faculty members have Ph.D.s or other terminal degrees and the
student-faculty ratio is 12:1. Annually, nearly one-third of Spelman
students receive degrees in the sciences. The students number more than
2,186 and represent 43 states and 34 foreign countries. For more
information regarding Spelman College, visit: www.spelman.edu.
