Payment history makes up 35% of an individual’s FICO score.  FICO scores are connected to car insurance.  Information from bureaus known as Equifax, Experian and TransUnion put together an individual’s FICO score.   FICO scores can follow you your whole life.   Many college students may not know that this fancy sounding “FICO” score is simply the most commonly used credit score.

This year students in both the Students in Free Enterprise (SIFE) Club and Money Matters club have put together informational presentations to be taught to their fellow students enrolled in two business courses: PPD (Personal Professional Development) 301 and PPD 302.  These students teach fellow students about practical personal finance topics in one class each semester.

This fall, a team of students from both clubs had a one-class presentation to PPD 301 students about credit.  This presentation will also be opened to Wilkes students not enrolled in PPD 301 next semester, senior business administration major and president of SIFE Raina Connor said.

Jared Sabol, a senior accounting major and president of the Money Matters club, as well as Connor, were instrumental in putting the presentation together for the class as leadership of their respective clubs.

The Money Matters club has much more going on than students may realize.  Community service is a part of the club just as much as on campus financial awareness

The club teaches first-generation college students in the Upward Bound program about federal loans and other money matters associated with getting through college.  The club has been involved in activities at Kid’s Café, a place where they taught children about currency, how to be healthy, and basic leadership skills.  Now they continue these activities at the McGlynn Center in Wilkes Barre.

Money Matters also runs a program called Wilkes University Entrepreneurial Experience (WUEE) for high school students.

The information that the SIFE and Money Matters club make available is vital to college students, especially those approaching the end of their education and the beginning of their career in the real world.  The economic context that Americans are faced with today makes this all the more important.

“In a time where we’re in such an economic downturn, any little bit (of basic financial knowledge) helps,” Sabol said.