Next to the fear of public speaking, the fear of a financial discussion is one of the most common phobias. That’s especially true for today’s college students.
The good news is that Novo Collegians have Ceci Linton—New College’s first financial literacy specialist—on their side. A brief chat with her is the perfect cure for the financial fear factor. And she’s always ready to talk.
Counseling students on the mysteries of money is her passionate mission.
Before coming to New College in November, Linton worked in the financial industry. Before that, she received her master’s degree in counseling, which makes her perfect for this work.
Linton admits that counseling adults about financial literacy wasn’t always easy. After a certain age, bad habits are written in stone. Seeing a lifetime of bad money choices left her sad for those who didn’t acquire the financial knowledge and skills to make solid decisions regarding their finances. Yet, with younger people, smart counseling can have a lifetime impact on their financial capability.
Linton now provides that counseling, and also connects students to lucid financial training workshops on cashcourse.org—a free online financial education resource designed specifically for college students.
She is also training a dream team of peer mentors, including resident advisers. Her hope is to enable them to walk a fellow student through to a place of strong financial capability.
Linton’s position in the Office of Outreach and Inclusive Excellence (OOIE) is thanks to a new initiative made possible by a generous grant from Charles and Margery Barancik Foundation. The Access Leadership Program empowers promising local high school seniors and eliminates financial barriers that might prevent them from attending New College. Linton works closely with these Barancik Scholars who are part of this initiative. As she sees it, her work is vital to their future success.
“A student’s money problems can create a domino effect that damages their housing security, financial aid, scholarship and academic career,” Linton said. “A student in an academic counseling session will often mention money problems. Now, that department can refer them to me so I can address the financial issues. If a student is failing a course or a contract, they could lose their financial aid. Everyone on this dynamic campus impacts each other, and we needed a central hub to communicate that.”
It takes hard work and a lot of one-on-one meetings to reach out to everyone. But to Linton, it’s worth it.
“Students have their whole lives ahead of them,” Linton said. “If they start making the right financial choices now, the possibilities are limitless. There’s a direct correlation between a student’s financial and academic success. And it works the other way around, too. A student who lies awake at night worrying about money can’t study for their next exam.”
So what does a financial literacy specialist do, exactly? Linton defines herself as a financial outfitter.
“I was a wilderness guide for eight years,” she said. “If you’re going on a backpacking trip, you need to stock your backpack with the right gear and supplies: a water bottle, provisions, sleeping bag and anything else you might need. The lifetime journey of personal finance works the same way.”
She adds that it doesn’t work the same for everyone; every person’s financial situation and needs are unique.
“I ask each student about their hopes and dreams for the future,” she said. “Once we know that, we can identify the essentials each student should put in their metaphorical backpack.”
Linton’s counseling sessions and the CashCourse modules offer practical advice on short-term budgeting, long-term retirement planning, the logic of credit cards, and the wisdom of regular savings.
“Financially capable students can look forward to a hopeful future,” she said. “They’ll have control over their day-to-day and month-to-month finances, and can absorb unexpected bills, stay on track, meet their goals, and have the financial freedom to enjoy their lives.”
She adds that this lifetime freedom starts with small choices.
“The math of compound interest is either your friend or enemy,” Linton said. “A janitor who saves three percent of their income every month since the age of 18 can retire comfortably. But a student who doesn’t pay off their credit cards each month can be crushed by a mountain of debt.”
Does she also have any stock tips? Investment secrets?
“There are tons of get-rich-quick books,” Linton said. “But this is about behavior change. That’s where I come in. My role is to help those students who don’t have the information. If they’re thirsty for knowledge, I’m here to help.”
To reach out to Linton, call her at 941-487-4143 or email her at [email protected].
Su Byron is the communications specialist for the New College Foundation.