What's Happening?
Grand Canyon University (GCU) has initiated a new financial coaching program called 'Money Mentors,' which began in September 2025. This program offers peer-to-peer personal finance coaching to GCU students, led by a team of six vetted student mentors.
Dr. Carolyn John-Carbon, the program director, emphasizes that the initiative is focused on financial wellness. The mentors, including Paige Prentice, Colin Trang, Ella Turner, Brody Shepherd, Derek Criddle, and Olivia Coates, provide guidance on various financial topics such as earnings analysis, spending and budget management, savings strategies, credit and debt education, and asset protection. The program also incorporates faith-driven guidance on managing debt and building credit. The Colangelo College of Business has provided office space for the mentors and clients, with an official ribbon-cutting scheduled for November 18. The program aims to expand its reach to all GCU colleges and eventually to online students.
Why It's Important?
The Money Mentors program addresses a critical need among college students for financial literacy and management skills. Many students, particularly those living away from home for the first time, struggle with managing their finances, often leading to debt or financial instability. By offering peer-to-peer coaching, GCU provides an accessible and relatable resource for students to learn essential financial habits. This initiative not only helps students avoid common financial pitfalls but also equips them with the knowledge to build a secure financial future. The program's emphasis on guidance rather than advice, vetted by GCU's legal team, ensures that students receive support within appropriate boundaries. Furthermore, the experience gained by the student mentors, such as Colin Trang, enhances their marketability to potential employers in the financial sector, preparing them for successful careers.
What's Next?
The Money Mentors program plans to expand its services significantly. The immediate next step is the official opening of the office space at the Colangelo College of Business on November 18. Looking ahead, the program aims to establish a Money Mentors office or dedicated room in every college within GCU to ensure broader accessibility for all students, including those in theology, social sciences, and nursing programs who may have less exposure to personal finance education. Additionally, there are plans to extend the program to online students within a year. The program will also utilize exit surveys to assess its effectiveness, measuring whether students' financial wellness and confidence in financial decision-making have improved, and gathering feedback on the mentors' skills and overall program satisfaction.
Beyond the Headlines
The Money Mentors program at GCU highlights a growing trend in higher education to address the holistic well-being of students, extending beyond academic and career support to include financial health. The peer-to-peer model fosters a unique learning environment where students can openly discuss financial challenges with peers who may have similar experiences, reducing the stigma often associated with financial struggles. The integration of faith-driven guidance also adds a distinctive dimension, reflecting GCU's institutional values and offering a moral framework for financial stewardship. This initiative could serve as a model for other universities seeking to implement practical and impactful financial literacy programs, potentially influencing broader educational approaches to student support and development across the U.S.
