Virginia Commonwealth University
Annual Report 2020-2021
Money matters
From the moment she first heard about VCU, Margaret Boateng wanted in. Getting accepted, she said, was “the proudest moment of my life.”
After that, however, things got tricky.
Boateng is a first-generation college student who grew up in Ghana and moved to Northern Virginia before her junior year of high school. She relied on financial aid and scholarships to attend VCU, but her parents weren’t familiar with the FAFSA and college financing options.
“Being a first-gen student, I had to figure everything out by myself,” she said. “If it wasn't for the Financial Management Center, I don't know how I would have been able to apply.”
Student Financial Services, under the leadership of Norm Bedford, associate vice president for student financial services, ensured she wasn’t alone. Boateng said she called them almost daily for help filling out forms, understanding how to pay for college, and tracking her refunds.
But that’s not all. Student Financial Services also has a team of financial counselors in the Student Financial Management Center who provide individualized guidance on financial planning and literacy, as well as managing debt, budgeting, and planning for the future.
“At first I was really bad with money, but they helped me,” Boateng says. “They tell you how you can manage your money, how much you can save after your refund, what you can do with the money after tuition.”
If it wasn't for the Financial Management Center, I don't know how I would have been able to apply.
The Student Financial Management Center, which opened in spring 2020, caught the eye of Virginia Gov. Ralph Northam, who awarded Tomikia LeGrande, Ed.D., vice president for strategy, enrollment management and student success, a 2021 Governor’s Honor Award for her work launching the center.
“Because of these efforts, VCU has outperformed other Tier III higher education peers in graduation rates of low income students,” Northam’s office wrote in a document announcing the 2021 honorees. “Additional efforts have helped to make higher education more affordable and accessible to all Virginians. Dr. LeGrande has been a strong champion of change at VCU and has strengthened the higher education landscape throughout the Commonwealth of Virginia.”