WHO IS MSFCP®?
Our Funder
Our Fiscal Sponsor
Our Purpose
Funded by JPMorganChase, MSFCP.org is a nonprofit organization focused on improving student financial wellness and developing financially capable students. Students who complete the program learn strategies to change their behavior to adopt healthy financial habits while in college to last into the future. The program is grounded in research showing that financial coaching can produce meaningful gains for low- and moderate-income individuals, including stronger money management practices, improved financial health, and greater financial well-being. Thus, through a combination of financial literacy coursework and personalized financial coaching, the Money Smart Financial Coaching Program® equips students to make informed financial decisions, manage money effectively, and navigate financial challenges. By focusing on changing financial behavior, MSFCP® bolsters student retention and completion through improved financial decision-making.
WHY WE DO WHAT WE DO
Concern about finances can dominate a student’s thoughts while in college, as substantiated by financial surveys of college students. Results of the 2024 Student Financial Wellness Survey of over 53,000 two- and four-year college students by the Trellis Company found that a large percentage of students suffer economic stress – 61% worry about having enough money to pay for college, 56% said they would have trouble getting $500 in an emergency situation, and 28% said they had run out of money 6 or more times in the past year. A study of Collegiate Financial Wellness conducted by The Ohio State University (2023) found that 72.5% of students experience high levels of financial stress leading to negative academic outcomes, increased time to graduation, and lower academic performance.
The good news is that MSFCP® has demonstrated that supporting student financial health and wellness leads to increased college persistence, retention and student success.
STUDENT VOICES
MSFCP® PRACTICES
A foundational goal of the MSFCP® is the combination of a financial literacy course, where students gain knowledge, combined with one-on-one, financial coaching, where students practice their knowledge and learn to change their behavior.
- Hallmark feature is one-on-one financial coaching
- Individualized coaching instills behavior change leading to life-long financial health
- Coaching methodologies help learners meet their individual goals
The MSFCP® has demonstrated that financial coaching supports persistence and retention for all types of learners.
- Data-driven methods to measure student outcomes across key metrics
- MSFCP® practices improve student success in terms of persistence and retention
- Learners engaged in workforce education programs achieve a higher rate of credential completion
MSFCP® helps colleges build capacity to deliver financial health education, now and in the future.
- Course-based model creates a more sustainable model for delivery
- Faculty teach a credit or noncredit course and are compensated by the employing college
- Course is supported through student tuition or fees making the model less reliant on grant funding and more likely to be adopted into the college’s culture
COLLEGE PARTNERS
