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April 15, 2019

Financial Wellness Clinic Opens to Chico State Students, Faculty, and Staff

A group photo is taken of participants of the Financial Wellness Clinic.

Financial stress is a common problem among college students, and Emily Huang, director for the Center for Excellence in Finance, aims to change that.

Business administration major Dejané Wilson was one of the first students to utilize its services.

"I feel like I will learn great things from the clinic and will continue to come here to enhance my financial literacy skills,” said Wilson. “The first meeting was very informative, and I've already received some good tips that I can apply to my everyday life."

The College of Business and Center for Excellence in Finance first opened the doors of the Financial Wellness Clinic in February, offering free financial counseling and planning advice in a one-on-one comfortable and confidential setting for California State University, Chico students, faculty, and staff. Areas of financial stress often include budgeting, debt management, credit management, student loan repayment, retirement planning, and many other areas of personal finance.

The Financial Wellness Clinic became a reality just months after the Camp Fire, the deadliest and most destructive wildfire in California history. Many students, faculty, and staff were affected by the tragedy, and the Center for Excellence in Finance began the very early stages of creating the Financial Wellness Clinic to assist victims of the fire through the Wildcats Rise Resource Center.

Through persistence, planning, and an overwhelming need from the campus community, Huang was able to secure a room in Glenn Hall dedicated to the clinic. Currently, the Financial Wellness Clinic is supported by the CSU, Chico Graduation Initiative 2025.

“One of my recent published papers finds that 97 percent of Chico State students had some degree of stress over their finances,” said Huang. “Being financially stressed has negative implications for students’ overall well-being, and thus their academic performance. The Financial Wellness Clinic aims to help our students cope with their financial stress and improve their financial security, and consequently their overall well-being.”

“Nearly half of all families in the United States have no retirement savings at all. For families that face a sudden illness or disability, or for workers who don't want to spend their golden years toiling in low-wage environments when they should be enjoying their contributions and families, this can be devastating,” says College of Business Dean Terence Lau. “I’m so happy about our Financial Wellness Clinic. Through the magic of time value of money, and establishing saving habits early, Dr. Huang and her team will make a significant difference in our community.”

Members of the campus community are encouraged to drop-in or schedule an appointment to talk with resident financial planners or para-planners to discuss options and formulate a financial plan.

The Financial Wellness Clinic is dedicated to the Chico State campus community and open to all students, faculty, and staff for financial planning in areas of budgeting, credit scores, student loan repayment, retirement planning, and many other areas of personal finance. The clinic is located in Glenn Hall, Room 202B. Drop-in hours are Wednesdays from 9–11 a.m. and Thursdays 2–4 p.m., or schedule an appointment by emailing FinancialWellness@csuchico.edu. 

Kelsey Horne
College of Business

Emily Huang
Director, Center for Excellence in Finance