Theodore R. Daniels, the President and CEO of the Society for Financial Education and Professional Development served on The Washington Post’s Speaker Series panel, held at the University of Maryland University College (UMUC) in College Park, Maryland on Saturday, March 11, 2006.
The topic of the meeting was titled “Managing Your Finances and Affording Your Higher Education Goals.” Mr. Daniels stressed the importance of managing your finances during the period when an individual is pursuing higher education. For example, he told the audience of UMUC students to:
a) Control their living expenses, e.g., transportation, utilities, food, etc.;
b) Develop arrangements for forced savings to accumulate funds to cover their education costs, e.g., automatic deductions transferred into savings accounts;
c) Increase income tax withholding to get a higher tax refund that can be used to cover the costs of upcoming educational costs.
Other individuals on the panel included: Mr. Ajamu Clark, Senior College Advisor at Theodore Roosevelt Senior High School, Ms. Dawn Mosisa, Associate Vice President at The University of Maryland University College Student Financial Services and Ms. Jane Collins Richstein, Director of Reach4Success.