PNC Provides Franklin College With Grant To Assist Students With Personal Finance Management

Release date: June 1, 2010

Franklin College was recently awarded a $3,500 grant from PNC Bank to begin a financial literacy program for its students. The program will be led by Shaun Mahoney, director of student financial services at Franklin College.

The PNC Financial Literacy on Campus Initiative 2010, along with Indiana Independent Colleges, granted a total of $10,000 to three Indiana colleges, each with creative proposals for programs addressing the need for college students to understand basic economics, personal finances and responsible use of credit. Franklin College submitted a proposal for a program called "FC Financial Choices."

"The college feels it is not only responsible for educating its students for successful and meaningful careers, but also teaching them sound financial planning they can use both during and after their time at Franklin College," said Jay Moseley, Franklin College president. "Students need to understand that a successful financial plan needs to be implemented when they begin college. Four years of college without a financial plan in place can create unnecessary debt and stress. We are grateful to PNC Bank for providing the resources needed to help implement this unique program."

"PNC is working with Franklin College to advance financial literacy among its students," said Steve Stitle, PNC's regional president for Indiana. "Developing a solid understanding of managing personal finances and building a strong credit history is essential to young people who aspire to one day own a home, get access to credit to purchase a car or start a business."

New students and their parents will meet with student financial services staff at the college to make a personal finance plan for the four year span they attend college. New students in LA 100, the New Student Leadership course, will also be a part of a financial literacy program which will include a financial fitness quiz. Franklin staffers will also present five workshops at central Indiana high schools that will be free and open to the public on the topic of financing a college education.

At the end of the program in June 2011, Franklin College plans to share its curriculum resources with other independent colleges in Indiana so they can replicate the workshops.

The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services. Follow @PNCNews on Twitter for breaking news, updates and announcements from PNC.

Founded 175 years ago in 1834, Franklin College is a residential four-year undergraduate liberal arts institution with a scenic, wooded campus located 20 minutes south of downtown Indianapolis. The college prepares men and women for significant careers through the liberal arts, offering its 1,047 students 36 majors, including biology, business, education and journalism. In 1842, the college began admitting women, becoming the first coeducational institution in Indiana and the seventh in the nation. Franklin College maintains a voluntary association with the American Baptist Churches USA.