Horatio Alger Financial Literacy
Horatio Alger Scholars often cite personal finance as an area for which they desired additional resources before heading off to college. In an attempt to meet this demand, the Association has identified high-quality information about the following financial literacy topics:
- Spending and Saving
- Payment Methods
- Credit and Debt
- Financial Aid Principles
All 2018 Scholars are required to complete a brief assessment on these financial literacy topics prior to submitting a disbursement request. The assessment will be located within your Scholar Account under Disbursement Request, and it will be available to complete on May 1. (You will receive your Scholar Account login information prior to May 1.)
Below you will find links to suggested videos and documents for each category. The Association highly recommends accessing the videos and documents prior to completing the assessment. Please note – while the assessment is required, you are not obligated to receive a particular score before submitting a disbursement request. However, should you score below the Association’s benchmark for proficiency, a representative from the Association will be in touch in the coming weeks.
Spending and Saving (total time to completion: approximately 13 minutes)
Objective: Apply strategies to monitor income and expenses, plan for spending and save for future goals.
- Options for tracking and managing your spending – by Better Money Habits (4 minutes and 29 seconds)
- Easy tips to save money every day – by Better Money Habits (3 minutes and 50 seconds)
- Ways to save money on your monthly bills – by Better Money Habits (4 minutes and 42 seconds)
PAYMENT METHODS (total time to completion: approximately 7 minutes)
Objective: Describe how to use different payment methods.
- What is a Debit Card? – MSU Federal Credit Union (3 minutes and 15 seconds)
- What is a Credit Card? – MSU Federal Credit Union (3 minutes and 5 seconds)
MANAGING CREDIT AND DEBT (total time to completion: approximately 10 minutes)
Objective: Develop strategies to control and manage credit and debt.
- Building credit and keeping yours health – Better Money Habits (4 minutes and 44 seconds)
- Intro to student loan repayment options – Better Money Habits (4 minutes and 38 seconds)
- Understanding credit card rates – Better Money Habits
- Your guide to key credit terms – Better Money Habits
Financial Aid Principles (total time to completion: approximately 30 minutes)
Objective: Develop a comprehensive understanding of financial aid principles, resources, and regulations.
- Types of grants and scholarships – Khan Academy (4 minutes and 32 seconds)
- Types of college loans – Khan Academy (6 minutes and 43 seconds)
- Financial aid package components: part I – Khan Academy (5 minutes and 11 seconds)
- Financial aid package components: part II – Khan Academy (6 minutes and 12 seconds)
- Financial aid package components: part III – Khan Academy (6 minutes and 49 seconds)