Capital One’s Fiscal U Brings Financial Literacy to College Campuses

National – May 8, 2014 

Fiscal UThrough a partnership with the National Association of Collegiate Directors of Athletics (NACDA), Capital One developed Capital One Fiscal U—a financial literacy program created for student-athletes. Designed to teach student-athletes valuable lessons about their financial futures, over 1,460 participants from 106 different institutions have participated since its launch in September 2013. The Financial Literacy Group, a financial literacy consultancy, was tapped to write content and provide insight into the challenges that face college students and the student-athlete.

NACDA’s Executive Director, Bob Vecchione has welcomed Capital One Fiscal U into NACDA’s portfolio of programs offered to its members to further support and educate student-athletes. “This program has been a great addition to the benefits we are able to offer our member institutions as it provides a critical step forward in providing student-athletes with real life skills to help ensure they can make smart decisions about their financial futures.”

“Financial literacy becomes a critical skill during college, when students are away from home, making decisions with potential long-term impacts on their financial futures,” said Roger Ferguson, Managing Vice President, Sponsorships, Capital One. “As a NCAA Corporate Champion and long-time sponsor of numerous collegiate athletic programs, Capital One is committed to supporting all areas of college sports and contributing resources to help student-athletes reach their goals on the playing field and in the classroom.”

With Capital One Fiscal U, student-athletes are taken through financial scenarios that they’re likely to face when graduating, buying their first car and even preparing for retirement. Scenarios cover the basics of budgeting, credit and debt management, investing, consumer protection and insurance coverage. For every question, they’re presented with a number of options and can move on once they’ve chosen the correct answer. They’re scored on the number of times it takes to select the correct answer and can opt to participate in a national scoreboard to see how they stack up against other student-athletes throughout the country.

For Christopher Uchacz, Associate Athletics Director/Director ASCDU, University of Maryland, the benefits are clear to see. “It encourages student-athletes to think beyond their day-to-day lives and start planning for a wide range of hurdles they may face.”

How would you score?

Try this sample question to see what these student-athletes are learning!

Question: Since I had to get back to campus early for preseason training, I took care of signing the lease for our new off-campus apartment. Then a few weeks after she moves in, my roommate, Kelly, decides to transfer schools. Is she still responsible to pay rent to the landlord?

a) Unfortunately, no. Kelly’s name is not on the lease so you are responsible for the entire rent. Better find a new roommate fast!

b) Talk to the Room and Board Office at your college! They will help you find a way to resolve the issue with your landlord.

c) Of course she is! Since she lived in the apartment for at least a month, she’s still obligated to pay the landlord until the lease is over.

d) Yes! Kelly still has to pay rent until a new roommate is found.

Correct Answer:  A