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U.S. Treasury deputy secretary to talk about student debt with students, IU officials

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FOR IMMEDIATE RELEASE

INDIANAPOLIS — U.S. Treasury Deputy Secretary Sarah Bloom Raskin will visit Indiana University-Purdue University Indianapolis Monday, Sept. 28, to talk with university officials and students about student debt.
 
Raskin will meet with 10 students at University Hall for about an hour, beginning at 12:45 p.m. The student-debt discussion is closed to media.
 
In addition to the broad range of substantive and organizational issues she oversees and directs at the Treasury department, Raskin focuses on the macroeconomic impact of student loan borrowing and cybersecurity as well as drivers that bolster and sustain U.S. and global economic growth and recovery.
 
Raskin, who is delivering a speech in Indianapolis on Monday, heard how Indiana University is proactively tackling the student-debt issue. She wants to learn more about IU’s programs and talk to students directly to hear their voice on the issue.
 
Among steps IU has taken to address student debt are:

  • Mandatory financial-literacy programming required pre- and post-Freshman Orientation
  • Kelley School of Business personal finance course for credit
  • Peer-to-peer financial advising
  • Standardized student aid letter
  • Annual debt letter
  • Dedicated personal-finance website: moneysmarts.iu.edu
  • Default aversion software
  • Staff professional development on personal finance.

These proactiave initiatives toward helping students better manage their student debt have garnered nationwide attention through a myriad of financial literacy awards and acknowledgements from organizations including Fox Business, Kiplinger, Marketwatch, USA Today College, Yahoo Finance and The Chronicle of Higher Education. IU’s financial-literacy initiatives have helped reduce student borrowing across the university by more than 16 percent over three years, resulting in approximately $82.5 million in debt savings.

Indiana University is committed to addressing student affordability and is continually assessing programs for impact.  Student personal financial literacy and the optimization of student debt will continue to be part of the fabric of these conversations.

Mary Frances McCourt, senior vice president, CFO and treasurer of Indiana University, and Jim Kennedy, associate vice president, will attend the meeting with Raskin and will be available to meet with reporters at University Hall following the meeting.