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IU to roll out student financial literacy program

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Indiana University says it's rolling out a financial literacy program to give students the tools to complete college without excessive debt.

IU Treasurer MaryFrances McCourt says the program is designed for students at all IU campuses and will include a website with information and tools on financing college, workshops and peer-to-peer advising. She explained it Thursday at an IU Trustees meeting in Gary.

IU says most of its students borrow money to help pay for college, but the percentage who borrow and the amount they borrow vary by campus. Nearly half of students on the Bloomington campus have acquired debt.

McCourt says the program will be targeted especially to students who need the most help. That includes students with excessive debt and those who are not making satisfactory academic progress.

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  • what's the contradiction?
    It seems to me two separate issues are being addressed. One program is responding to a serious practical problem for students that aims to help them through a present difficult circumstance, possibly increase their life skills for the future, and reduce the problem for future students. The other endeavor is to formalize study in an area that is historically and uniquely American and bring it into the modern world by connecting it to information science, business and finance, ethics and law, entrepreneurship, social science, and other areas. The only thing they have in common is that they deal with money in some fashion.
  • Student financial literacy
    Student debt is one of the most serious problems facing graduates. How can IU not see the contridiction teaching financial literacy and also spending and soliciting millions for IUPUI to start a degree program in philanthropy. Use the millions to develop courses that have the same basic theme: students must spend less than they make to be financially successful.

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    1. to mention the rest of Molly's experience- she served as Communications Director for the Indianapolis Department of Public Works and also did communications for the state. She's incredibly qualified for this role and has a real love for Indianapolis and Indiana. Best of luck to her!

    2. Shall we not demand the same scrutiny for law schools, med schools, heaven forbid, business schools, etc.? How many law school grads are servers? How many business start ups fail and how many business grads get low paying jobs because there are so few high paying positions available? Why does our legislature continue to demean public schools and give taxpayer dollars to charters and private schools, ($171 million last year), rather than investing in our community schools? We are on a course of disaster regarding our public school attitudes unless we change our thinking in a short time.

    3. I agree with the other reader's comment about the chunky tomato soup. I found myself wanting a breadstick to dip into it. It tasted more like a marinara sauce; I couldn't eat it as a soup. In general, I liked the place... but doubt that I'll frequent it once the novelty wears off.

    4. The Indiana toll road used to have some of the cleanest bathrooms you could find on the road. After the lease they went downhill quickly. While not the grossest you'll see, they hover a bit below average. Am not sure if this is indicative of the entire deal or merely a portion of it. But the goals of anyone taking over the lease will always be at odds. The fewer repairs they make, the more money they earn since they have a virtual monopoly on travel from Cleveland to Chicago. So they only comply to satisfy the rules. It's hard to hand public works over to private enterprise. The incentives are misaligned. In true competition, you'd have multiple roads, each build by different companies motivated to make theirs more attractive. Working to attract customers is very different than working to maximize profit on people who have no choice but to choose your road. Of course, we all know two roads would be even more ridiculous.

    5. The State is in a perfect position. The consortium overpaid for leasing the toll road. Good for the State. The money they paid is being used across the State to upgrade roads and bridges and employ people at at time most of the country is scrambling to fund basic repairs. Good for the State. Indiana taxpayers are no longer subsidizing the toll roads to the tune of millions a year as we had for the last 20 years because the legislature did not have the guts to raise tolls. Good for the State. If the consortium fails, they either find another operator, acceptable to the State, to buy them out or the road gets turned back over to the State and we keep the Billions. Good for the State. Pat Bauer is no longer the Majority or Minority Leader of the House. Good for the State. Anyway you look at this, the State received billions of dollars for an assett the taxpayers were subsidizing, the State does not have to pay to maintain the road for 70 years. I am having trouble seeing the downside.

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