{"id":50009,"date":"2019-10-14T14:38:00","date_gmt":"2019-10-14T19:38:00","guid":{"rendered":"https:\/\/sites.austincc.edu\/newsroom\/?p=50009"},"modified":"2024-11-12T14:41:30","modified_gmt":"2024-11-12T19:41:30","slug":"students-contributed-over-44000-to-fund-their-own-financial-emergencies","status":"publish","type":"post","link":"https:\/\/sites.austincc.edu\/newsroom\/2019\/10\/14\/students-contributed-over-44000-to-fund-their-own-financial-emergencies\/","title":{"rendered":"Students contributed over $44,000 to fund their own financial emergencies"},"content":{"rendered":"

A Message From Student Money Management Office Director Karen Serna:<\/strong><\/p>\n

In 2018, a financial wellness survey conducted of ACC students found that 56% of students would have trouble getting $500 to meet an unexpected need in the next month. A car repair, a visit to the dentist, or broken water heater can result in a student dropping classes to address their financial crisis. And, most financial emergencies our students experience can be addressed with $500 or less.<\/p>\n

Last year, ACC’s Student Money Management Office started giving students the opportunity to earn up to $100 in cash deposits to encourage setting aside money for the inevitable financial emergency. And wow, how our students saved! Students claimed $4,850 of incentives, and on the last day of the program had a collective balance of $44,016.<\/p>\n

Lisa Medina, a social work student at ACC, was among the first of last year’s 91 students who opened up a Rainy Day Savings account. She started initially “just to get the extra cash” and set up direct deposit from her paycheck. For setting up direct deposit, Lisa earned a $25 cash incentive.<\/p>\n

She started contributing $30 every pay period. “Before I knew it, I had saved over $700 and received all of the incentives from the program, $100 in total. Unfortunately, I ended up having a dental emergency that I could not financially cover. Fortunately, I was able to use the money that I saved through the Rainy Day Savings Program to get much needed dental work done. The Student Money Management Office’s Rainy Day Savings program helped me when I was in a crunch for extra cash. I have started to save again and will continue to utilize this account for any Rainy Day that may come.”<\/p>\n

The Student Money Management Office is enrolling the next cohort of students in the Rainy Day Savings Program and will open 150 accounts. The accounts are available on a first-come-first-served basis and they anticipate all spots being filled as early as November 15.<\/p>\n

To be eligible, students must be at least 18 years old, degree or certificate seeking, enrolled in at least 6 credit hours this semester, and intend to enroll in at least 6 credit hours at ACC in spring 2020.<\/p>\n

Learn more and apply on the Student Money Management Office’s website<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

A Message From Student Money Management Office Director Karen Serna: In 2018, a financial wellness survey conducted of ACC students found that 56% of students would have trouble getting $500 to meet an unexpected need in the … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":3930,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,15,17],"tags":[1898,1912,3739,2455,1100,1999],"class_list":["post-50009","post","type-post","status-publish","format-standard","hentry","category-current-students","category-facstaff-news","category-news-and-announcements","tag-emergency-assistance","tag-financial-wellness","tag-rainy-day-savings-program","tag-student-emergency","tag-student-money-management-office","tag-student-support"],"acf":[],"_links":{"self":[{"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/posts\/50009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/users\/3930"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/comments?post=50009"}],"version-history":[{"count":0,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/posts\/50009\/revisions"}],"wp:attachment":[{"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/media?parent=50009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/categories?post=50009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/tags?post=50009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}