2019 CashCourse Financial Educator of the Year Honorable Mention: Kathy Czech
Kathy Czech currently serves as
the assistant director of financial literacy and student employment at
St.
Catherine University
in Saint Paul, Minnesota. Czech has held this position for
six years, and in this time period she has helped students find ways to earn
and manage their money. She oversees a Peer Money Mentorship program that
includes the training of student mentors and financial counseling of students.
The program also hosts speaker series on personal finance topics relevant to
the college student audience, and Czech has presented to over 700 students in
the last year alone. Read on to learn more about her work.
CC: Tell us about yourself.
KC: I have worked
at St. Catherine University in Saint Paul, Minnesota, for 11 years. I started
in the Career Development Office, then moved to the Financial Literacy Office.
I have been the assistant director of financial literacy and student employment
for the last six years, and have enjoyed every minute of it! My role combines
helping students find ways to earn money, then guiding them on how to manage
it. I hold a bachelor’s degree in English from Western Michigan University and
am a certified financial educator through the University of Minnesota.
CC: Why do you think financial education is important for college
students?
KC: We all know
that collegiate costs are very high and today’s students are graduating with
burdensome student loan debt. Additionally, students are inundated with other
expenses and temptations to spend that didn’t exist 15 years ago. It wasn’t the
norm to have a personal cell phone, as is the expectation today. Campus
computer labs are increasingly difficult to find as students are told they need
their own laptops or pads. Entertainment extras also tempt students - Spotify,
Netflix - and video gaming, for instance. Uber and Lyft are becoming expensive
replacements for public transit. It’s so difficult for young people to juggle
college costs, the technology expenses, the desire for entertainment and
transportation. More than ever before, students need guidance evaluating needs
against wants, and determining what is necessary to successfully complete
college and to go on to live financially fruitful lives.
CC: Can you share a story about the impact of financial education on
your school’s campus?
KC: Ever since
St. Kate’s adopted a financial literacy program in 2008, our average default
rate has steadily decreased. Our institution’s three-year cohort Fiscal Year
2015
default rate was a low 3.1%,
compared to the national average of 10.8%. By doing a fantastic job with
student loan repayment, our students are maintaining their good credit and
buying power – I’m so happy and proud of them! The Money Management Office,
Financial Aid, Admissions, and Multicultural Office work together to ensure our
students understand their student loans and repayment. Together we promote
financial education and we have positively impacted our students’ ability to stay
out of default, which feels amazing!