Connect * Empower * Impact


2019 AFCPE® Research and Training Symposium


AFCPE Pre-Symposium: Sunday, November 17 - Tuesday, November 19
AFCPE Symposium: Tuesday, November 19 - Thursday, November 21
Schedule Subject to Change

Wednesday, November 14th, 2018
Impact of Cooperative Extension on Enhancing Financial Capability of the Students
Skegee Money $mart (SM$), Financial Literacy and Education Program (FLEP) is a new activity offered to the collegiate youths (CY) on campus by the Tuskegee University Cooperative Extension (TUCE) since summer, 2015. We received very positive feedback, interest, and willingness from the participants to arrange more such educative offers to them. Consequently, we developed a curriculum for collegiate youths blending information from various sources (NEFE, SAM, JumpStart, FDIC, and programs from other universities). Considering an acute need for a similar program for high school students and socially disadvantaged limited resource families (LRF), we customized the curriculum and reached out to the interested adults of the LRFs as well as three high schools in Black Belt Counties (BBC). The initiative at TUCE was based on the recommendations and findings by UNCFSP (2012) that highlighted a huge gap in financial literacy among high school and college students at historically black colleges and universities (HBCUs). The study reveals that 31% of HBCU students do not follow a financial plan, 45.4% indicated that they spend more than their income, and 55.6% always, usually or sometimes buy things even when they could not afford to. Black students are the least financially literate among all ethnic groups and have lower financial literacy scores than their white peers (Chen and Volpe,1998). Similarly, Karki (2016) stated that 58% of high school students in the BBC of Alabama do not have a bank account. Likewise, the case with the families in the BBC is even more troubling. According to America Saves Week (2015), 50% of Americans live paycheck to paycheck. To deal with the problems outlined above regarding financial knowledge, skills, and capability, TUCE launched the SM$-FLEP to educate the following target groups in its outreach area. Target Audiences 1. Collegiate youths (CY) 2. Limited resources families/adults (LRF) 3. School students (SS): Middle, Junior high, and high