Sometimes, it becomes necessary to set up a financial counseling department in college. If the students in the college keep on getting into major financial difficulties, there may be no other option, but to set up a financial counseling department to help them. So the department is set up with the objective of offering financial counseling services to the college students, to help them manage their finances better.
It is worth remembering that students who receive financial counseling while in college are likely to enjoy lifelong benefits. So the counsel they receive serves them well even after they leave college. For instance, a student who is a freshman in college today may be working for an agency like, say, the United States Postal Service in 5 years. This means that he would be receiving his paychecks through the USPS staff portal, at www.liteblue.usps.gov. But if the student had poor financial habits, and failed to receive proper financial counseling, he may have difficulties managing the funds he is to get through the liteblue extranet. So it is really critical to ensure that college students acquire at least some basic financial literacy. Those who have deep-seated financial problem should then be referred for financial counseling, to ensure that the issues are resolved in good time.
In practical terms, while setting up a financial counseling department in college, you need to:
- Acquire the room(s) where the financial counselors are to be based.
- Hire the financial counselors.
- Give the financial counselors some sort of orientation. The goal here is to get them to understand the challenges they are likely to encounter, and how to handle them.
- Make the students aware of the existence of the financial counseling department. Then make them feel comfortable seeking financial counseling. Remember, there are students who may be inclined to shy away from seeking financial counseling (and any other sorts of counseling services for that matter). So you have to reassure them, and make them aware of the fact that seeking financial counseling is a sign of strength, not weakness.