IN.gov - Skip Navigation

Note: This message is displayed if (1) your browser is not standards-compliant or (2) you have you disabled CSS. Read our Policies for more information.

Secretary of State

SOS > Media Center >  Press Releases > 2006 Press Releases > For Immediate Release: March 8, 2006 Rokita Unveils Pilot Financial Literacy Program for Indiana College Seniors

Contact: AJ Freeney-Ruiz
317-233-8655
Media@sos.in.gov

Indianapolis, IN - Today, Indiana Secretary of State Todd Rokita's Investor Education program will conduct its first of four sessions on financial literacy aimed at college seniors. The pilot program will be conducted at DePauw University in Greencastle from now until May 4 of this year. The "Living on Your Own: A Crash Course in Cash" college series is part of Rokita's new Indiana Investment Watch campaign and is aimed at helping students make good money decisions in the real world.

A major statewide survey of more than 1000 Hoosier families conducted for Rokita's office showed that nearly two-thirds of Indiana adults who own financial investments have little or no knowledge about potential fraud schemes or the security of such investments. In an effort to combat this lack of investment education among Hoosiers, Rokita has assembled an industrious plan, including a $1.8 million awareness campaign, to raise understanding and thwart scam artists and perpetuators of fraudulent sales pitches to investors.

"Our office is dedicated to helping Hoosiers learn more about money, finances and investments as well as arming themselves against fraud," said Rokita. "The 'Living on Your Own' series for college students is extremely important for younger individuals to learn how to manage their own money. By being better educated today, students will be better protected from con artists and financial pitfalls in the future."

The first workshop, "What Happens to Your Paycheck in the Real World," will address how to create a budget, pay off student loans, choose a credit card and understand taxes - skills college seniors will need to succeed in the real world.

"Nobody hands you a guidebook for life when you graduate from college," said Rokita. "Sometimes the real world can be quite intimidating."

Future workshops include: "Real World 101" on March 21," How to Retire Rich" on April 6, and Rokita will present the final workshop on avoiding investment scams called "Grow Me the Money" on May 4. Rokita is piloting this program at DePauw University with hopes to expand it to the rest of the state next fall.

The Indiana Secretary of State's investor education program, known as "Indiana Investment Watch," operates within the Secretary of State's Securities Division. The main goals of the program range from preventing fraud and encouraging reports of fraudulent activity, to encouraging children to learn about money early in life through both family and school activities and raising awareness on the available resources at the Secretary of State's office.

Recognizing that financial education is a powerful weapon in the fight against investment fraud, the Secretary of State's office provides tips on how to detect con artists and avoid becoming a victim on its website at http://www.in.gov/sos/.