Alumnus realizes dream to 'poverty-proof' Georgia State University students
at the Andrew Young School of Policy Studies

Students can learn to better manage their personal finances and get a handle on debt courtesy of a new course and workshop offered by AYSPS. Both are the dream of Alumnus Ralph Moor (B.C.S. '37), whose major gift to the school made them possible. "My concern is in keeping students from becoming bankrupt, homeless or 'among the least of these' by learning how to budget their money," said Moor in an earlier interview for The Briefing (Winter 2002).

The course is Economics: The Way We Live. "It's a new approach to introductory microeconomics," says instructor Janet Johnson, "a way to show our students practical economics at work." She says the curriculum was written to appeal to students from all backgrounds. It teaches basic economic principles using real world experiences that engage students in interesting issues early on. "We make the course relevant to what is going on in their lives now," she says.

Moor told students their class was either on the cutting edge or even ahead of the curve when he visited Johnson’s class in November. "Every book, radio, television, newspaper story, etcetera, seems to concentrate on how to create debt most advantageously, how to manage debt, or how to get out of debt," he said. "I want our course to teach people how to stay out of debt and to live debt free. Everyone has money to spend, but how you spend it makes a difference.

"It's a sign of maturity when you get old enough that your wants don't hurt you. My objective is that anyone taking this course will be 'poverty proofed' for life."

Johnson reports that informal feedback on the new course is quite good. In fact, word of the innovative curriculum is expected to generate more interest among students in choosing economics to meet their core requirements, or to consider economics as a major.

Professor Paula Stephan has led eight Credit Card Craze workshops, which were so well-attended they were nearly standing room only. "Credit cards are easy for students to get," says Stephan. "More than eight out of ten undergraduates have at least one – half have at least four. The median amount of debt students carry on these cards is $1,800. More than a fifth owe between $3,000 and $7,000 in debt. Unfortunately, students do not often know the conditions that come with the cards, like high late fees, increased interest rates, and fees for uses like cash advances."

Stephan's workshops, part of the Freshman Learning Communities at Georgia State University, warn students about the costs of using credit, the consequences of compound interest, and the effect of bad credit on future outcomes. Stephan also provides links to resources that will help with credit card debt and information on credit reports.

"Debt is one of the major reasons that students drop out of college," she says. "Bad debt can create tremendous problems for people for years to come – even after it is cleared up."

More than 500 students have attended the workshops, a number representing roughly one-fifth of all Georgia State University freshmen. Another 40 are enrolled in the course.

Alumnus Moor said he was favorably impressed with Johnson and Stephan's dedication to the new program. "The students are very responsive to this approach," he says. In fact, he is so pleased with the course and workshops that he recently added to his initial bequest to the university. His generous support echoes the slogan he suggested to Johnson's students:

"If you cannot keep up, how in the world can you catch up?"