On October 23rd, 2014, we updated our
By continuing to use LinkedIn’s SlideShare service, you agree to the revised terms, so please take a few minutes to review them.
Financial Planning Made Simple - TutorialPresentation Transcript
Financial Planning Made Simple (FPMS)Created by the Imagine America Foundation Tutorial
About FPMS Financial Planning Made Simple (FPMS) is an online-based tool to help your career college students make responsible financial decisions. Your students will view an 18-minute animated, interactive video tutorial where they will have the choice of two avatars to walk them through the budgeting, borrowing, and repayment process.
Implementation into Scholarship and Award Programs Since March 2011, all Imagine America applicants are required to complete the FPMS video tutorial in order to be eligible for the scholarship or award.
Imagine America Applicants After the applicant has applied they will be notified that they must complete the FPMS video tutorial. Applicants can also go to www.imagine-america.org/fpmsto complete the simulation. Additionally reminder emails are sent out to applicants bi-weekly.
Imagine America Applicants Applicants must log in using their application id. They must watch the video to the end, click on the “Simulation Complete” button and wait for their confirmation page. If applicants do not wait for the confirmation page it will not be marked as completed.
Imagine America Applicants Check Application Status: if applicants have not completed the FPMS video tutorial a message with a link to the simulation will come up when they check their application status
Start FPMS Video Students will choose from two avatars.
Completing FPMS Video Imagine America applicants must watch the simulation to the end and click on the “Simulation Complete,” and wait for the confirmation page in order to be eligible for the scholarship or award.
Downloadable Student Financial Planning Tool Students can customize their own budgets by filling in their financial information to quickly see how their budget and expenses coordinate.
Downloadable Student Financial Planning Tool In the next tab, students can experiment with the different loan repayment options, which will help them see the long term impact of borrowing. To print the information out, right click on the tool and click print.
Participating Colleges Participating colleges will be able to log in to the “Application Management,” page to see the student’s applications and view if they have completed the FPMS simulation. If the Imagine America applicant does not complete the FPMS simulation they will not be able to request their award letter and certificate, even if the college approves the student’s application.
FPMS Survey Results How knowledgeable were you (applicant) about financial aid? 32% of respondents said their knowledge of financial aid was barely acceptable demonstrating the need for additional financial literacy tools.
FPMS Survey Results How students found out about financial aid? 58% of respondents selected a college representative. Using the FPMS video tutorial is another way colleges can help students make responsible financial decision.
FPMS Survey Results Will FPMS help you (applicant) make responsible financial decisions? 80% of respondents said that FPMS would definitely or very probably help them make better financial decisions.
Suggested ways to use FPMS Have incoming students view the FPMS before the initial financial aid meeting. This way they will come to the meeting with questions. Use the FPMS in conjunction with financial information already being used at your school. Mid-way through program have students review the FPMS simulation as a refresher. Have students go through FPMS at exit interviews.
Contact Andrea Spisak P: 314-378-2958 E: firstname.lastname@example.org Cheri Rudd P: 314-304-1179 E: email@example.com