On Tuesday, March 29, 2005, the Michigan Guaranty Agency (MGA) hosted the 2005 Default Aversion Best Practices Symposium at Schoolcraft College in Livonia. 

The symposium brought schools together to discuss some of the best default aversion practices occurring in Michigan and around the country. In addition, the symposium featured keynote addresses by two prominent and nationally acclaimed experts on financial literacy.

Mr. Carl George, currently serving as the chair of the National CPA Financial Literacy Commission and CEO of Clifton Gunderson LLP, gave the morning keynote address. Mr. George's remarks focused on the current financial crisis in the United States by offering startling statistics and examples. In addition, Mr. George defined the term "financial literacy" and presented clear and specific ways for financial aid professionals to help their students become financially fit. Mr. George concluded with information from the 360 Degrees of Financial Literacy Web site that focuses on lifelong financial literacy and learning. We have provided Mr. George's presentation in two online videos.

Carl George, PowerPoint Presentation
Carl George, Part I (Windows Media File, 17 minutes, 23.5MB)
Carl George, Part II (Windows Media File, 19 minutes, 25.5MB)
Video Clip Transcript: Carl George Presentation

Ms. Laura Levine, Executive Director of the Jump$tart Coalition, gave the afternoon keynote address, profiling the average high school senior and pointing out that today's high school senior is tomorrow's college freshman. Ms. Levine mentioned that Jump$tart is currently exploring a national survey of college students to determine their level of financial literacy. Ms. Levine ended by taking questions from audience members and explaining more about the resources Jump$tart hosts at www.jumpstart.org. We have provided Ms. Levine's presentation in two online videos.

Laura Levine, PowerPoint Presentation
Laura Levine, Part I (Windows Media File, 31 minutes, 49.1MB)
Laura Levine: Questions and Answers (Windows Media File, 15 minutes, 31.4MB)
Video Clip Transcript: Laura Levine Presentation

Additionally, breakout sessions were held to discuss practical and innovative default aversion activities that financial aid professionals can use while their students are in school as well as after they have left. Notes of those breakout sessions have been provided below.

In-School Default Aversion Activities
Post-Graduate Default Aversion Activities