MCC Launches Campuswide Financial Wellness Program

Middlesex Community College has launched a campuswide Financial Wellness Program to provide students instruction in personal financial literacy, knowledge of higher-education financing and repayment, and other skills aimed at building personal financial understanding and responsibility.

MCC’s new Financial Wellness Program is made possible by a one-year, $150,000 supplemental award to the college’s existing $2.2 million Title III grant, awarded in 2016 by the U.S. Department of Education.

“This grant allows us to focus on financial education as a critical part of the student experience,” said MCC President James C. Mabry. “We want to provide financial-literacy resources, instruction and counseling to support students in understanding college costs, financing options, and how to create their own plan to pay for college.”

“Finances are one of the top stressors for college students,” said Maritza Martinez, Associate Director, MCC Student Accounts Office. “As soon as they know their finances are stable, they can concentrate on their classes.” And many students don’t have a good grasp of financial issues, she added.

“We’re finding it’s a very uneven playing field. Some students are well aware of financial issues and know what steps to take, while others are not – especially first-generation and minority students,” said Martinez.

“With our new Financial Wellness Program, all students will have access to coaching, instruction and other extra supports to help them grow their personal financial understanding and responsibility.”

MCC’s Financial Wellness Program will include several components, including:

• iGrad – an online module that provides students with 24/7 money-management and financial-aid education, resources and tools.
• Financial Wellness Specialists – two part-time specialists, one on each campus, to provide face-to-face instruction and advising for students.
• Financial Wellness Peer Mentors –four peer mentors, two on each campus, will also be available, in case students are more comfortable working with advisors their own age.

In May, Middlesex will host a Financial Wellness Day in Bedford and Lowell, said Martinez. These special events will feature representatives from nearby banks, community organizations and other local resources to enlighten students about outside community resources.

For more information about MCC’s Financial Wellness Program, contact Maritza Martinez, Associate Director, Student Accounts Office, at Martinezm@middlesex.mass.edu or 978-656-3272.

Discover your path at Middlesex Community College. As one of the largest, most comprehensive community colleges in Massachusetts, we educate, engage and empower a diverse community of learners. MCC offers more than 80 degree and certificate programs – plus hundreds of noncredit courses – on our campuses in Bedford and Lowell, and online. Middlesex Community College: Student success starts here!