Wilson, an IU senior, balances her studies while taking care of her daughter. Although she said she has a solid grasp on her personal finances, events like the MoneySmarts WinterFest can provide good opportunities for her future.
“My daughter’s biological father lives so far away,” Wilson said. “It can get hard to make sure there’s enough for all the bills after paying for travel and other necessities.”
Wilson, who studies at the School of Public Health, heard about the WinterFest and decided to come to the resource fair Monday at the Indiana Memorial Union. She wanted to see what it had to offer including information on payment plan services to semester-based job opportunities.
She comes from a military family, and said she bounced around frequently in the past, but now she said she wants to settle down with her daughter and find a job in Colorado, preferably in hospitality, tourism and event management.
“In the process of finding a job, it’s always good to see what I can do to make paying off school easier,” Wilson said.
Wilson, along with other students of several disciplines and financial backgrounds, attended the WinterFest.
The program included a Resource Expo and a talk headed by financial planning expert Peter “Pete the Planner” Dunn.
Dunn was joined over Skype by Scott Wise, CEO of Scotty’s Brewhouse, a successful Indianapolis-based restaurant and sports bar chain.
Throughout the event, students had several opportunities to enter free giveaways and play games to win prizes, including several scholarships.
They also talked to job recruiters and financial service representatives about ways they can make and save money while receiving an education.
“Money is not a very exciting topic to talk about,” Morgan McMillan, assistant director of financial literacy at IU, said. “We wanted students and attendees to engage in a more fun environment by incorporating games, prizes and more.”
The event was organized by the Office of Financial Literacy and the MoneySmarts team, which is made up of a group of IU students who serve as financial educators for the IU student body.
Graduate student Terry Batemon said his two years on the team have allowed him to not only help countless students gain fiscal literacy, but also achieve financial growth for himself.
During his time as an undergraduate student at IU, he was a pole vaulter for the track and field team. He said he experienced some personal financial struggles, but he managed them after learning how to live like a student.
“As a student athlete, I acted as a liaison between the athletics department and academics,” Batemon said. “A lot of athletes have trouble with money after they go professional, and I want to fix that before it becomes a problem.”
Batemon gives presentations with his team on topics ranging from employment to student loans.
He also facilitates one-on-one appointments with students who express a particular need for assistance.
“People from all backgrounds can benefit from the work that we do,” Batemon said. “I know what it’s like to be in situations that aren’t the best, but we can help you understand the financial problems and get through them.”
Financial aid options
Grants Grants are need-based awards that do not have to be repaid unless the student withdraws before finishing an enrollment period. They are available through the federal government, state government, institutions or organizations and students must complete the FAFSA to be eligible.
Scholarships Scholarships are merit-based awards that do not have to be repaid. They are available through the federal government, state government, institutions or organizations and typically require an application.
Federal Work-Study These include part-time jobs for enrolled students with financial need that allow them to earn money to pay for educational expenses. They are encouraged to be community service or work related to students’ field of study and are arranged through a school’s financial aid office.
Federal Student Loans Loans include money borrowed from the federal government. The institution calculates the loan amount and offers the student the loan option in his or her financial package.
