As the end to fall semester nears and students prepare to head off-campus for a well-earned break, reflections and conversations often shift toward future plans—career choices, financial goals, and the growing responsibilities that accompany adulthood. College offers a rare window to explore these questions, yet many students (both domestic and international) navigate this period with limited financial guidance.
In an effort to bridge this gap, UVM has partnered with Vermont Federal Credit Union (VFCU)—an official sponsor of UVM Basketball—to launch a Student Financial Resource Center. This online hub demystifies financial planning, arming students with the knowledge needed to become more financially competent before embarking on their career. The website offers an assortment of resources; from simple banking basics to personalized budgeting and saving worksheets, and tips on how to break the “paycheck to paycheck” cycle. Students will also find resources for negotiating starting salaries, retirement planning, and up-to-date information on federal student loans.
“Every career decision necessitates some consideration of finances (e.g., is the compensation package enough?)," said Career Center Director Sarah Heath. "But knowing what's enough can be tricky without thoughtful financial planning. Enough to pay the bills here, for instance, might not be enough there, or enough to build a cushion for the unexpected, or to save for the future. That's why we teamed up with experts at the credit union to host this Resource Center aimed at helping students know feel more informed as they're making career decisions which are, of course, financial decisions.”
Financial literacy is not a typical part of a college curriculum, but the need is clear: a Corporate Insight 2024 financial literacy survey claims that 59% of college students demonstrate “lower levels of financial literacy.” As students juggle academics, cost of living, and major life decisions in just a few short years, the ability to make informed financial choices is critical. The Financial Resource Center was developed by VFCU in collaboration with UVM's Career Center, Graduate College, Office of International Education, and Student Financial Services.
“Partnering with UVM gives us the opportunity to help students get started early before financial decisions feel overwhelming." said Maribeth Spellman, Chief People Officer and General Counsel at Vermont Federal Credit Union "Together, we’re creating space for students to ask questions, build confidence, and learn practical skills that will support them long after graduation. Our goal is to meet students where they are and empower them to build a healthy financial future, one step at a time.”
"We were thrilled when Brandon, a UVM Alum and Senior Marketing Strategist at VFCU, offered to build this resource center with us,” added Director Heath. “As a mission driven organization, VFCU saw this as a great opportunity to support the community in building financial literacy. They’ve been delightful to work with and are also offering in-person workshops on campus every semester. Of course, we hope students will see VFCU as a great option for their own banking, but the site is truly a resource for all students – regardless of where they bank.”
The Student Financial Resource Center is now available at https://www.vermontfederal.org/uvm.
For more information on Vermont Federal Credit Union, please see their website: https://www.vermontfederal.org
For more information on Student Financial Services at UVM, please see their website: https://www.uvm.edu/studentfinancialservices