Rock Band ‘GOODING’ Brings Message Of Financial Responsibility To MCCC

Blue Bell, Pa.—Given the growing amount of student debt accumulated by college graduates nationally, financial literacy education has become a crucial part of the college experience.

To make the concepts of financial literacy more accessible and meaningful to students, Montgomery County Community College is hosting a multimedia “Funding the Future” concert by the rock band GOODING on Monday, Oct. 5 at 12:30 p.m. in the Science Center Theater at the Central Campus, 340 DeKalb Pike, Blue Bell, with simulcast to the College’s West Campus, 101 College Drive, Pottstown.

The concert is presented by The Page Group of Raymond James®. Admission is free, and the show is open to the public.

A bonafide rock band whose music has been featured on such shows as “CSI,” “Criminal Minds,” and “The Daily Show,” GOODING launched its “Funding the Future” financial literacy tour as a way to give back to the communities through which it travels.

Using the power of a live rock performance and the band’s personal story, GOODING addresses issues like predatory lending, credit card debt, saving early and looking to students’ own communities for support and mentorship. The band also exposes the myth of rock stars, athletes and actors who sell the false image of overnight success.

To learn more, visit http://www.goodingmusic.com/for-good/financial-literacy-tour.

GOODING’s presentation builds on MCCC’s own financial literacy curriculum, “Montco Money Matters,” developed through the College’s participation in EDUCAUSE’s inaugural Next Generation Learning Challenges (NGLC) Breakthrough Models Incubator (BMI) cohort.

Developed in 2013, “Montco Money Matters” is a multi-channel module that includes video, social media and face-to-face engagement, along with an online course-like experience. The 30-minute, self-guided program introduces students to concepts of financial aid, loans and grants; highlights the long-term implications of loans and future debt; and makes them aware of other resources, like scholarships, to help pay for college.

“Montco Money Matters” incorporates open-source and original content, including a computer-generated tour guide, short video clips featuring actual MCCC students, and links to off-campus resources that allow students to delve further into topics of interest.

HOOVER FINANCIAL ADVISORS OFFERS TOP 10 CREDIT TIPS

Pete Hoover

Pete Hoover

Malvern, PA – Hoover Financial Advisors, PC, celebrates its 10th anniversary with a series of Top 10 Lists. The first involves valuable advice to preserve good credit.

“Too much credit? Too little credit? No credit? Good credit? Bad credit? There are so many considerations when protecting and managing personal and business credit,” indicates HFA founder Pete Hoover, CFP. “Lenders generally rely on five key factors when evaluating individual or company credit worthiness. Sometimes called the 5 Cs, there are: Credit History; Capacity; Collateral; Capital; and Conditions.”

The most widely used credit scores are created by Fair Isaac Corporation or FICO. Ninety percent of top lenders use this resource to help them make billions of credit-related decisions every year.  A person with credit has a FICO score at each of the three credit bureaus: Equifax, TransUnion and Experian. Each score is based on information the reporting bureaus keep on file about individuals with various types of credit. Data and scores may be different at each one.  Base FICO scores have a 300 to 850 range. Although many lenders seek FICO scores when making decisions, there is no single cutoff score used to calculate interest rates.

“Credit can be a wonderful thing – if it is good,” qualifies Hoover. “For example, someone with a credit score of 840 is just 10 points below the highest possible rating. That person could pay more than $90,000 less on a 30-year fixed rate mortgage for a $300,000 home. Be sure to take charge of your credit health and keep your scores strong. The rewards are ample,” he concludes.

Hoover’s Top 10 List:

  1. Establish a positive credit history by opening and responsibly managing a secured credit card.
  2. Get current on any missed payments. Delinquent accounts may stay on credit report files for up to seven years.
  3. Always pay bills on time with at least the minimum amount due.
  4. Stay within credit limits on cards or lines of credit.
  5. Review credit scores annually and report discrepancies promptly. Free reports can be ordered by linking to http://www.AnnualCreditReport.com or calling 1.877.322.8228 and following instructions.
  6. Pay down high interest rate debt first.
  7. Don’t open new credit accounts you don’t plan on using.
  8. Set a monthly budget and maintain it.
  9. When possible, consolidate debt into a lower interest rate account.
  10. Pay more than minimum amounts on monthly bills.

Hoover, who has more than 30 years industry experience, is a multiple Five Star Wealth Manager, which is achieved by fewer than seven percent of area financial advisors. He launched Hoover Financial Advisors in 2005. The firm was selected as the 2012 Small Business of the Year by Chester County Chamber of Business & Industry and the year before it was named among the top financial planners in the Philadelphia region. Headquartered on Moores Road in Malvern, HFA is an independent discretionary firm with no product ties. Services include wealth management, cash flow management, estate planning, retirement planning, financial forecasting, plan preparation and implementation, income tax strategies, insurance solutions and management of financial needs after the death of a loved one. For more information, visit its website at petehoover.com or call 610.651.2777.

Information for this news release was obtained from Wells Fargo; AnnualCreditReport.com; Federal Trade Commission Consumer Information (consumer.ftc.gov); creditcard.com.