Building Bridges between Transfer Students and Financial Aid Awareness

Despite the U.S. having one of the highest college access and participation rates in the world, equity gaps exist that impact access and success for first-generation, low-income, underrepresented students in higher education (Cahalan et al., 2020). The goal of going to college is often imperiled for first-generation, low-income, transfer students due to financial challenges and a lack of financial literacy. In other words, financial obstacles often interfere with students' persistence and successful matriculation to four-year higher education institutions (Broun et al., 2014). This study was guided by a narrative inquiry methodology to explore the perceptions and experiences of first-generation, low-income, transfer students with their financial aid awareness and financial literacy. More specifically, this study explored the impact the Summer Transfer Transition program had on 11 Educational Opportunity Program (EOP) participants' comprehension of financial aid awareness, financial literacy, and willingness to seek financial support services at the college they attended. This research incorporated a social justice framework (Bell, 2016) and the theoretical framework of Bandura's (1989) social cognitive theory. The data analysis revealed the following major themes: experiences that influenced financial awareness, the challenges surrounding financial literacy, navigating higher education financial aid systems, and recommendations to increase financial awareness and financial literacy. The findings of this study brought to the forefront various implications for higher education institutional practices and policies as it pertains to financial education and financial literacy across higher education institutions. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]