MUNCIE, Ind.—More than 3,500 students at Ball State University have agreed to take the “America Saves Pledge” and have chosen a savings goal and created a plan to achieve that goal.
If everyone of those students does so, it will add up to more than $7.8 million in savings.
The Pledge is offered by America Saves, a program of the Consumer Federation of America, and has been led at Ball State by Professor Daniel H. Boylan, who reported that 3,571 students have signed on so far.
“Recognizing the vast number of college students facing loan debt Boylan and America Saves have teamed up to train students how to save successfully in order better manage their finances,” the CFA said in a statement. “By taking the America Saves Pledge, these students commit to create a financial habit of saving preparing them for the realities they will encounter when they graduate, have to pay off their student loans and are fully employed.”
The America Saves program was incorporated into Ball State personal finance classes beginning in December 2013 to connect what students learn in the classroom to the outside world. The student-run Finance $ociety also engaged other student clubs on campus and set up a table with computers for students to take the America Saves pledge to save.
To date, 3,571 Ball State students have pledged to save $7,884,653. Top goals include saving for Education (24%), Vacation (19%), Special Event (10%), Emergency Fund (9%), and Debt Repayment (7%).