VSCPA Educational Foundation Sponsors Student Financial Education Program

Research shows that average student credit card debt is $4,088 and average student loan debt is $20,000. Although college students are graduating with vital career expertise and job skills, they may be missing out on other important skills essential to their future success — budgeting, financing homes and cars, choosing adequate insurance options, learning when to seek help from financial and legal professionals, creating life goals and more.

To address this need, the Virginia Society of Certified Public Accountants (VSCPA) partnered with James Madison University (JMU) to launch LifeSkills — a seven-week program that trains college juniors and seniors on financial and career skills needed for real life. With a generous sponsorship from the VSCPA Educational Foundation, the VSCPA and JMU developed an online toolkit to assist other colleges and universities in launching their own student financial education program.

Part of the VSCPA’s award-winning Financial Fitness campaign, the LifeSkills program satisfies Virginia college and universities’ legislative requirements for offering financial literacy education (HB 2513). The program also teaches college students important life skills, including goal, career and financial planning.  

The LifeSkills Toolkit is a free online guide that walks institutions through the process of implementing the program, step by step. The Toolkit includes a complete timeline of tasks, sample budget, topic ideas, frequently asked questions, program marketing materials and more! Available on the VSCPA consumer Web site, www.FinancialFitness.org, these materials are just some of the many pro bono resources offered by the VSCPA to improve the financial health of all Virginians.

"Recent statistics reveal that young Americans, including Virginia’s students, know little about savings, debt, credit, retirement and other money management basics,” said Elsie L. Rose, CPA, chair of the VSCPA Educational Foundation Board of Directors. “The VSCPA Educational Foundation is pleased to sponsor the LifeSkills program and assist Virginia colleges and universities in ensuring graduates are prepared for all facets of life after college."

Free financial resources can be downloaded online at www.FinancialFitness.org. For more information on LifeSkills or to request a CPA instructor, please contact VSCPA Media & Public Relations Specialist Shawnte Reynolds at sreynolds@vscpa.com or (800) 733-8272.

The Virginia Society of Certified Public Accountants (VSCPA) Educational Foundation is the premier nonprofit organization dedicated to promoting business and accounting education, rewarding academic excellence and encouraging students to pursue promising careers. For more information on the VSCPA Educational Foundation, its scholarship and award programs, or to make a tax-deductible donation, visit www.vscpafoundation.com, e-mail info@vscpafoundation.com or call (800) 733-8272.

The Virginia Society of Certified Public Accountants (VSCPA) is the leading professional association dedicated to enhancing the success of CPAs. Founded in 1909, the VSCPA has approximately 8,300 members who work in public accounting, industry, government and education. For more information, please visit the Press Room on the VSCPA Web site at www.vscpa.com, e-mail vscpa@vscpa.com or call (800) 733-8272. To search for a CPA in your geographic region, visit www.financialfitness.org and click on “Find a CPA.”