College Students Challenged to Revamp Their Budgets, Improve Their Financial Literacy
Higher One Announces Launch of New "Money Makeover" Contest
NEW HAVEN, Conn., Aug. 19 /PRNewswire-FirstCall/ -- College students are being challenged, beginning today, to improve their financial behavior and money management skills, with the launch of Higher One's first "Money Makeover" online competition. Students will have the opportunity to engage with their peers, receive expert advice and compete for rewards being offered to those who can become the most financially fit.
"Our 'Money Makeover' contest is not only a fun and interactive way to bring financial literacy to our students, but will teach them lifelong skills of financial management that will span beyond the competition, and even beyond college," said Mary Johnson, Financial Literacy and Consumer Advocacy Program Manager for Higher One, a financial services provider that works with colleges and universities. "The contest reinforces the importance of setting and actively working toward financial goals—both short and long term—and teaches students the essential skills of budgeting and managing their money along the way."
Students who enter the contest will be asked to submit short video entries that demonstrate why they need a financial makeover and identify the specific goals that they would like to achieve. Up to five Featured Bloggers will be selected to share their challenges and progress toward their goal. Peers will be able to follow the Featured Bloggers on their journeys and vote for the individual who they believe has shown the most improvement. Four Featured Bloggers will get a cash prize of $500 to put toward their goal, and one grand prize winner will receive $2000.
Higher One, in partnership with NYSE Money Sense, the online financial resource of NYSE Euronext, will offer expert information and tips to help students control their debt, create and follow a budget and effectively manage their money.
"We are excited to be a part of the Higher One 'Money Makeover' contest and to team up with a company that has made financial literacy a priority," said David Cautin, Chief Digital Officer of NYSE Euronext. "Money management skills are essential for the financial future of our students, our economy and our nation. Higher One's contest will bring awareness to campuses across the country and teach financial literacy to our next generation of leaders."
OneAccount customers can enter the contest beginning today, with submissions accepted through September 17, 2010. The Featured Bloggers will be announced on October 11, 2010 and the blogging and voting period will begin. The grand prize winner will be announced on November 19, 2010 after the peer votes are tallied.
"You don't have to be a Featured Blogger to undergo a 'money makeover,'" said Johnson. "Whether a contestant, participant or observer, everyone will have the opportunity to learn invaluable skills about money management and pave the path to a successful financial future."
The contest is open to all students currently attending a college or university that uses Higher One's services in addition to all existing Higher One OneAccount holders. Visit www.higherone.com/gametime for details and official rules.
About NYSE Money Sense
NYSE Euronext launched NYSE Money Sense, a credible resource for basic financial education to help people better understand and manage their personal finances, in April 2010. The interactive site includes: A five-lesson Course replete with Certification Test, answers to basic Financial FAQs, a guide to other financial resources throughout the web and a first-person blog by a young New Yorker trying to get her finances in order. A committee of six of the country's leading financial education experts helped develop the site. NYSE Money Sense helps to underscore NYSE Euronext's commitment to transparency, and the rebuilding of consumer confidence by helping consumers to become better informed on financial matters.
About Higher One
Founded in 2000, Higher One (NYSE: ONE) is a leading company focused on helping college business offices manage operations and provide enhanced service to students. Through a full array of services from refunds, payments, electronic billing, payment plans and more, Higher One works closely with colleges and universities to ensure students receive Financial Aid refunds quickly, can pay tuition and bills online, make on-campus and community purchases, and learn the basics of financial management.
Higher One provides its services to more than 4.8 million students at distinguished public and private higher education institutions nationwide. More information about Higher One can be found at HigherOne.com.
Media Contacts: |
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Elissa D'Orazio |
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Edelman |
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212.642.7787 |
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Richard Adamonis |
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NYSE Euronext |
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212.656.2140 |
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SOURCE Higher One Holdings, Inc.
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