JMG students practicing "preventative financial care"

FORT KENT - Susan Dubay, a teacher in the Jobs for Maine's Graduates program at Fort Kent Community High School, began a pilot program on Wednesay, Nov. 30 to bring real world financial and scholarship assistance every two weeks to students who elect to participate in the class.

EDUCATION FINANCE ALLIANCE - JMG Instructor Susan Dubay, NorState Marketing Director Denise Cote and Loan Officer Keela Gagnon joined forces to help students make wise financial decisions. - Daigle image

Two NorState Federal Credit Union employees, Marketing Director Denise Cote, and Loan Officer and educator Keela Gagnon, spent an afternoon with JMG students to help them learn how to practice what could be called "preventative financial care."  The two NorState employees provided an electronic exercise in which students were able to calculate the monthly cost, including peripherals such as gas and insurance, associated with the purchase of their choice of vehicle.

Cote said, "I hope you have an appreciation now of maybe what your parents are going through."

The presenters encouraged students to "do their homework" and discouraged them from "buying on emotion."

Although the presentation focused specifically on the financial responsibilities associated with buying a car or truck, Cote and Gagnon spoke to the students about examining the long-term consequences of all of their purchasing decisions, building a good credit history, and building relationships with vendors and dealers they can trust.

Cote advised students, "If it [seems] too good to be true, it is too good to be true."

Dubay encouraged students to refrain from rushing into the responsibilities of loans: "As soon as you walk outside of these doors [after you graduate], you'll have a lot of financial obligations... You have the rest of your life to pay for your toys."

Dubay said the NorState employees would also be assisting JMG students with getting prepared to go to a career development conference this coming April.  At the conference, juniors and seniors will be competing in a variety of real-world skills, including interview skills, resume writing, listening skills, and a marketplace competition in which different JMG units design a cubicle that best provides information about JMG and demonstrates the four program goals:  leadership, career development, community service, and social awareness.

Gagnon said, "Being able to [get this information across to students] at the high school level is important."  She emphasized that the high school students of today will be the financial support for all of us in the future.

Both presenters said getting financial literacy into school curriculums was difficult.  Gagnon suggested that part of the reason was that personal financial information is still considered "taboo" as a discussion topic.

Cote said, "People will talk about their bunions over coffee but won't tell me they can't balance their checkbook."

Cote said the Aroostook Chapter of Credit Unions will be holding a Financial Fitness Fair on the Loring Job Corps campus in the spring in which attendees will have the opportunity to participate in real-world exercises using the financial skills which are required to successfully navigate a day in the life of a responsible adult.  Every high school junior in Aroostook County is invited to participate; last year, there were almost 500 juniors in attendance, she said.

The president of the Aroostook Chapter of Credit Unions, Dan Bagley, is anticipated to be available to assist students at the Financial Fitness Fair with a credit counseling exercise based on a certification course to become a financial counselor in which he and Gagnon are currently enrolled.