The CNM Foundation has received a grant of $148,000 from United Way World Wide and the Financial Industry Regulatory Authority to promote financial literacy, said Executive Director of CNM Connect Ann Lynn Hall, who will be administering the grant through her office.
The grant will be used to fund high-quality education programs and services to help students reach their financial goals, said Hall.
“For this grant, we’re targeting students who are taking the FIN 1010, a financial literacy course. We will help them find proper benefits, financial coaching, legal advice and free tax preparation in the spring to increase their income,” said Hall.
Connect will provide a targeted “wrap-around,” comprehensive service to students taking the financial literacy course and look at what the students achieve when Connect focuses the best services to a specific group, said Hall.
Hall recommends the class to every student and faculty member because financial struggles are often the reason why people drop out of school, she said.
“We’re helping individuals in being very proactive when planning out how to fund their education, and how to pay for living expenses,” said Hall.
Individuals and families working with Connect services to achieve their goals and taking the class at the same time is a strong way for them to get their finances in order, said Hall.
“We assume that students are the experts about their lives and they’re going to be the ones to decide the best way to solve whatever is going on,” said Hall.
The literacy class starts by asking the students to analyze their career and what sort of financial impact it will have on future goals. It then teaches students about credit, debt and how to budget, she said.
“CNM Connect also offers financial coaching. The class provides the education to learn about the topics and coaching is learning how to change behaviors to achieve financial goals,” said Hall.
CNM Connect’s philosophy encompasses three things: a location where people can come for any kind of support, support through achievement coaches and student success team leaders and a “no wrong door” approach, which means that if students go to the Connect location looking to work with a Connect person, they are going to be helped with whatever they need, or at least pointed in the right direction, said Hall.
For more information about financial and other services provided by Connect go to cnm.edu/connect.