In 2018, small businesses employed 58.9 million Americans, totaling 47.5% of the U.S. private workforce. Libraries often play a central role in helping people make their entrepreneurial dreams a reality by providing resources to support the research that goes into developing, running, and expanding small businesses. Public libraries are traditional resource centers for small business, but universities and academic libraries are increasingly supporting student entrepreneurs through both curricular and extracurricular programming to help them develop new startups and small businesses. Though libraries are instrumental in providing access to business development information, they may miss a key service area for successful entrepreneurship—financial literacy programming.
Lack of personal financial knowledge negatively affects both individual and collective economic vitality, making financial literacy programming an important way that libraries can contribute to strong communities. Financial literacy is one of five essential 21st century literacies identified and supported by PA Forward, an initiative of the Pennsylvania Library Association to support libraries in their literacy efforts. Offering these events and workshops is a daunting task, but connecting libraries with partners who are trustworthy financial literacy experts can ease the difficulties. Using examples from public and academic libraries in Pennsylvania, this article will discuss PA Forward Financial Literacy partners, illustrate a variety of programming opportunities, and highlight best practices for library financial literacy programs.
PurposeThis paper aims to describe a case study of the open and affordable educational resources (OAER) initiatives led by Penn State University Libraries (UL) and implemented at its many campuses which are designed to address the challenges students experience accessing and funding their course materials.Design/methodology/approachThis case study will show how a broad administrative mandate for high-level OAER initiatives created the environment for Penn State (PSU) to evolve from individual pioneering units into coordinated university-wide initiatives. This shift, spearheaded by administration with strong UL involvement, allowed for customized and targeted initiatives at its many campuses. By using UL’s centralized, but geographically dispersed, structure, library faculty and staff have been supported in their efforts to expand OAER from the ground up to meet individual contexts and campus needs.FindingsAs a result of its many open and affordable initiatives, PSUL has been able to demonstrate both savings and increased access for students across PSU’s many campuses and World Campus. Broad administrative support has created an environment which enabled UL faculty and staff to lead various initiatives.Originality/valueUL has long been a leader and partner in open and affordability initiatives at PSU because of its core mission of providing access. By sharing the processes and logistics of how a large research institution with many campuses of various sizes implemented a wide variety of library-driven open and affordability initiatives through a centralized but geographically dispersed structure, academic libraries will be able to replicate similar initiatives in their unique contexts.
International students, who comprise 14.5% percent of the student body at Penn State Harrisburg, expressed concern regarding personal finances in an institutional survey. Using situational comedy clips that addressed financial missteps, the author worked with an English conversation group to discuss personal finance management and financial assistance resources and to promote financial literacy amongst the students based on the Reference and User Services Association's Financial Literacy Education in Libraries: Guidelines and Best Practices for Service. The use of sitcoms allowed humor to lighten what can often be a taboo subject. The clips provided examples to critique rather than using personal experiences. Students reacted positively to the program structure and participated in lively conversation.
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