Money talks
by Rebecca Gill
Although
Australia is considered the lucky country in many respects, including
access to tertiary education, the reality is that being a student is
often a time of economic strain. For uni students, the biggest
uncertainty is often not their studies, but their finances. What
government allowances can I get? What kind of loan should I apply for?
And most importantly, where do I go for information?
Now three UniSA students Leila Seith, Shivvaan Sathasilvam and Tim Martin have teamed up to form the Students In Free Enterprise (SIFE) Financial Literacy program, to tackle these problems in a dynamic and open environment.
Sathasilvam, the program coordinator, says that the program operates under a simple premise. "If students are given the appropriate financial skills and shown all available resources, we believe that the cost of living can be appropriately managed by people from all socioeconomic backgrounds.
"Although information is not hidden from students, it sometimes isn't very accessible, or there are problems with understanding all the corporate terminology. So we have designed a type of 'one-stop-shop' for students wanting financial assistance," he said.
The team has enlisted the help of industry partners BankSA, HSBC, National Australia Bank, Centrelink and UniSA Career Services. A panel seminar has been planned so that professionals from these organisations can field questions and provide expert advice. Some topics on the agenda include banking services, government allowances and employment opportunities.
President of 2006 UniSA SIFE Team, Leila Seith, says that the Financial Literacy project is about financially empowering students.
"Students can also look forward to a financial assistance website, which will contain more information, links, and also a chatroom where students' questions will be answered by a relevant professional," she said.
The program is part of a broader SIFE network. Last year the UniSA Robotic Peer Mentoring team took out top prize at the SIFE National Awards, and represented Australia at the 2005 SIFE World Cup in Toronto. This year's awards, to be held in Brisbane from July 6 to 8, will no doubt see a fresh line-up of UniSA student entrepreneurs rock the competition.
Students should look out for the free financial assistance seminar in semester two. An email providing more information will be sent to student accounts closer to the date.