In a Kansas State climate survey, one-third of students who participated reported they have considered dropping out of K-State due to financial issues. To help relieve students’ stress over finances, Kansas State University Foundation held a day of giving.
In just 24 hours, the Kansas State University Foundation raised $1,051,199 on March 22 for its All In for K-State giving day to improve the financial futures of K-State students, according to the Foundation’s website.
“I was hopeful that it would be a great day,” Kathleen Hatch, Morrison family associate vice president for student well-being, said. “It certainly exceeded expectations, but it was really fun to check in with different people to see how stunned they were that K-State could … receive such generous gifts.”
Jodi Kaus, director of Powercat Financial, said the money from this day will go towards programing, educational resources and staffing to help teach students how to manage their finances.
“Having over a million towards this effort is really going to help us start to make sure that we have a bigger reach and that we have more students impacted by these kinds of support services,” Kaus said.
Kaus said she is already seeing an impact, as Powercat Financial hired 20 peer counselors who are ready to help students in the fall.
“We have shown from our research that the earlier we can get in front of students with this guidance and information, the more success we can have,” Kaus said.
Hatch said finances are a general stress for many students and impact their well-being.
“[Finances] are identified in our National Collegiate Health Association as the third highest stressor students are facing that impedes on their academic progress,” Hatch said.
Hatch said there are many economic stresses due to loss of jobs and COVID-19 that can impact a household’s finances.
“Financial well-being is just one aspect of greater well-being, and it bleeds over into other areas of both emotional or physical or mental well-being,” Hatch said.
Hatch said the money raised at All In for K-State is going to change students’ lives and equip them for life with new financial skills.
“I would say that your gift is not only gonna make an impact on our current students and soon to be K-State students, but also throughout their entire lifetime,” Kaus said. “These are life skills, career readiness skills, skills to help them achieve their future goals.”
Annie Schorgl, senior in mass communications, said she is happy for students to have access to these helpful resources.
“I think that these resources would be really helpful just because I’m going into the adult world soon and I honestly don’t know that much about managing my money,” Schorgl said.
The university has more plans to help students with their finances, Kaus said.
“When a student is meeting each semester with their academic advisor and creating that academic plan they can have in tandem with that, this comprehensive financial plan that they update every semester,” Kaus said.
There are many on-campus financial resources available such as Powercat Financial, the Office of Financial Assistance, and free canvas courses to help students learn how to manage their money, Kaus said.
To receive help and learn more about managing finances, you can request scheduling for an appointment on navigate or email Powercat financial at firstname.lastname@example.org.