California University of Pennsylvania students will participate in a hands-on financial management and personal budgeting experience during a Financial Reality Fair on October 23. Sponsored by the state’s largest credit union, PSECU, the free financial education event will be held in the Performance Center on the second floor of the university’s Natali Student Center from 11 a.m. to 1 p.m.
“This will be the seventh Financial Reality Fair that PSECU has coordinated on college campuses throughout the commonwealth, and I’m pleased to announce the enthusiastic reception this fair - and its predecessors – have been given by students and campus communities,” said PSECU President Greg Smith. “We opened our Financial Education Center at California University in 2002 and have found the university to be an excellent and dedicated partner in our efforts to provide high quality, useful financial education, and skill building to students. Today’s event is another example of their continued collaboration and support.”
With the help of volunteers from PSECU and California University, the Financial Reality Fair is designed to be a highly interactive experience for student participants. Students receive a budgeting worksheet with salary information based on intended career and level of education. Students then visit a series of booths to learn about and make choices pertaining to living expenses, from entertainment to insurance. To end the activity with a balanced budget, students are encouraged to revisit each booth as many times as needed.
“I applaud PSECU for bringing its Financial Reality Fair to Cal U,” said California University President Geraldine M. Jones. “Our students look forward to a bright future, and they are most likely to be successful if they have sound strategies in place for meeting their financial goals. PSECU’s interactive program will help our students become more knowledgeable and responsible consumers.”
Last year, PSECU hosted Financial Reality Fairs at Millersville University, Susquehanna University, and HACC’s Harrisburg Campus. Of the participants, 333 students submitted completed surveys about their experience. They were asked questions about skills they acquired, thoroughness and clarity of information provided, and likelihood of event recommendation to peers. The survey results were overwhelmingly positive with each question receiving an average score of at least 4.6 out of a maximum score of 5.
“For students to realize their full potential after graduation, it is important that they have a solid understanding of the financial environment they’ll be entering,” said Mike Verotsky, Director of University Development for PSECU. “We at PSECU are proud to have the opportunity to sponsor the Financial Reality Fair and help impart that education to Pennsylvania’s students.”
When registering for the California University Financial Reality Fair, each student will also be provided with a giveaway toolkit of resources and financial education materials to help them as they continue working toward financial success.