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College Of New Rochelle Works To Improve Students' Financial Literacy

Developed by Signature Bank in partnership with The College of New Rochelle, the pilot program offers financial education to students at the Brooklyn and Co-op City campuses of the College’s School of New Resources through six one-hour sessions.
Developed by Signature Bank in partnership with The College of New Rochelle, the pilot program offers financial education to students at the Brooklyn and Co-op City campuses of the College’s School of New Resources through six one-hour sessions. Photo Credit: Wikipedia

NEW ROCHELLE, N.Y. -- The College of New Rochelle and Signature Bank have partnered to offer students a new Credit for Credit program for financial literacy.

“The student years are an important time to start learning and implementing life-long best practices for managing finances. This new course helps students learn key strategies and arms them with the necessary tools to help them financially succeed throughout their lives,” explained Michael Schwartz, director of Community Development of Signature Bank.

Developed by Signature Bank in partnership with The College of New Rochelle, the pilot program offers financial education to students at the Brooklyn and Co-op City campuses of the College’s School of New Resources through six one-hour sessions. The first session kicked off in March 2016. Students earned one credit for the class, paid for by the College, and in the process, gained access to critical and valuable financial planning information that will benefit them over the long-term.

“We hope this pilot course in Economic Literacy, sponsored by Signature Bank, will empower students to make better financial choices for themselves and their families and have greater control over their financial resources throughout their lives,” said Louis DeSalle, associate dean of Curriculum and Instruction at The College of New Rochelle School of New Resources.

“The long-term goal of financial literacy is to inform students on best practices for reducing or limiting borrowing now, so it will be easier to repay debt after completing their education. This is especially important if a student plans to further their studies through graduate programs,” explained Carol O’Rourke, the program coordinator and course instructor.

The first four classes covered financial perspectives and provided everyday financial living information.

Later classes built on the terminology, concepts and planning established earlier in the program. The last two topics covered were financial aid and a look ahead to your future.

“Students identify with the program and are directly seeing the relationship finances play with other aspects of life. It’s not a theoretical class that is separate from their everyday lives,” said O’Rourke.

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