Who taught you
about financial planning? Powercat Financial Counseling helps students make sense of dollars and cents By Katie Niederee Photos by David Mayes
Let’s face it — the average student’s knowledge about finances and financial planning is somewhat limited. Many college students are racking up debt they don’t know how to manage, and they don’t know where to turn for advice. That’s why K-State students came up with an innovative way to enhance their campus and help their fellow students, funded by generous alumni who saw an opportunity to improve their alma mater — Powercat Financial Counseling.
14 Good for K-State | Spring 2010
The idea When Matt Wagner and Lydia Peele ran for student body president and vice president in 2007, one of their platforms was to create a financial planning center on campus. After being elected, they wanted to make sure that students truly felt the need for the center at K-State, as well as speak with professionals in the industry to get opinions about the financial planning education gap for college students across the nation. “There’s a need for students to be able to seek advice and get help from their university,” Wagner said. “It may not be academic advice, it may not be something that will directly
affect them at K-State, but by implementing that idea, we’ve formed a collaborative effort across campus in creating Powercat Financial Counseling.”
The preparation To get the feedback they needed, K-State’s Student Governing Association, under Wagner and Peele’s leadership, surveyed students during the 2007–2008 academic year to gauge students’ financial awareness. Overwhelmingly, students responded that their knowledge of financial issues was limited, and that they would be willing to consult with a professional regarding their personal finances.