Today's Update: Thursday, November 17, 2022
November 17, 2022
Dear Student Life team,
One of the things that stresses out college students the most is money.
Research shows 40% of Ohio State students, and nearly 50% of students nationwide, report having problems or challenges with finances over the past 12 months. And among those students, three out of four report those issues cause them moderate or high distress.
That’s not a recipe for wellness.
It’s why I was pleased to be part of a presentation yesterday to the university Board of Trustees Academic Affairs and Student Life committee, explaining how our Scarlet and Gray Financial (SGF) program is helping our students become more financially literate.
The presentation was made by Ben Raines, the Financial Wellness Coordinator in the Student Wellness Center, and Alex Thomas, Learning Community Specialist for Scarlet and Gray Advantage. Ben explained that SGF is a nationally recognized program that uses peer-to-peer coaching, an established best practice. Ben walked the board through the three components of SGF: financial coaching, group financial coaching workshops and the iGrad financial wellness online service. He told them the most common topics include financial goal setting, credit and credit cards, debt repayment strategies, budgeting and investing.
SGF is also an integral part of Scarlet and Gray Advantage, President Johnson’s innovative plan now in the pilot phase to empower eligible Ohio State students to earn their bachelor’s degree debt free.
Alex talked to board members about how, when the curriculum for the learning community was designed last spring, one of the first learning outcomes identified was to increase students’ financial capability, and how SGF plays a key role in that education.
The full Board of Trustees meeting was earlier today, and I want to take a moment to congratulate our new graduate student trustee, Taylor Schwein. She is a Doctor of Nursing Practice student in Ohio State’s College of Nursing and is currently serving as a student lead for the Commission on Mental Health Work Group. She was also very active in BuckeyeThon, and I’m excited to be able to continue working with her as a board member. I’m especially thrilled that she is on the Academic Affairs and Student Life committee. Taylor joins undergraduate student trustee Tanner Hunt, whose term continues until May of next year.
At Ohio State, student trustees are voting members of the board, showcasing our university’s true and active commitment to a shared governance system. Throughout my time here, it has been a true joy to watch the student trustees contribute in meaningful and significant ways.
The next Board of Trustees meeting will be in February. I encourage you to watch their sessions, either live or recorded, to continue gaining a greater understanding of current and future activities here at Ohio State. The website is trustees.osu.edu.
Scarlet and Gray Financial, Scarlet and Gray Advantage; both are Scarlet and Great for our students.
Melissa S. Shivers, PhD
Senior Vice President for Student Life
The Ohio State University