NYSE US 100
30.08.2007 15:30:00
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The Hartford's Playbook for Life Kicks Off New Season and Brings Back-to-School Game Plan for Financial Success to DePaul University
Student-athletes at DePaul University will set aside their sports
playbooks for personal finance playbooks this Tuesday as members of "Team
Hartford” visit the campus to share practical
lessons on money management from the award-winning national education
program, Playbook for Life. Developed by The Hartford Financial
Services Group, Inc. (NYSE: HIG), working closely with the National
Collegiate Athletic Association (NCAA®), Playbook
for Life gives student-athletes and college students the basic
financial knowledge required for personal success.
Team Hartford Captain Allen Pinkett, former University of Notre Dame and
NFL running back, will share his personal finance fumbles and lessons
learned and give student-athletes tips for preparing for life in the
real world. He will be joined by Bill Poutre, a former adjunct professor
of entrepreneurship and current head coach of the NCAA Division I men’s
golf team at the University of Hartford, who will offer student-athletes
useful information to get their financial houses in order.
"I knew all the right moves to make when it
came to sports and school work, but that didn’t
prevent me from making some poor financial decisions,”
said Pinkett. "Teaching these valuable
personal finance lessons to young people early on will help prepare them
for success in any venue - and help them avoid making the same mistakes
I made.”
Students heading back to school across the country are invited to take
advantage of the free resources found in the Playbook for Life
guidebook and web site, www.playbook.thehartford.com.
The guidebook features easy-to-use personal finance fundamentals on such
critical topics as budgeting, credit and debt management, saving and
investing.
With few students heading off to college with formal training in
personal finance, the Playbook for Life is intended to help fill
this void. Currently, only seven states require a personal finance
course for high school graduation, and only nine states require the
testing of student knowledge on personal finance, according to the 2007 "Survey
of the States” by the National Council on
Economic Education.
Concrete instruction in personal finance at the college level is also
inconsistent. In addition, the average student loan debt among
graduating seniors is $19,237, according to the 2003-2004 National
Postsecondary Student Aid Study, leaving many students to face
financial pressures after college with few tangible skills in money
management.
A recent survey by The Hartford revealed that students are seeking more
guidance to make ends meet after college. Detailed findings include:
71 percent of college students are concerned about their ability to
meet financial obligations after college;
Less than a quarter (24 percent) of college students say they are "very
well prepared” to deal with the financial
challenges that lie ahead;
76 percent of college students wish they had more help preparing for
their financial future;
47 percent of college students say their parents have had to bail them
out of debt at some time;
50 percent of college students expect it to take between two and five
years to pay off their student loans.
"The Playbook for Life has enriched
the lives of student-athletes and college students by encouraging them
to start planning for tomorrow, today,” said
NCAA President Myles Brand. "These important
life lessons in the basics of job benefits, credit, debt, saving and
investing are a necessity for helping them create a game plan for
financial security after graduation, regardless of the career path they
choose.”
Pinkett and fellow members of Team Hartford –
a group of former student-athletes and professional athletes who have
found success both in and out of sports –
have brought the Playbook’s teachings
to students at 18 colleges and universities, in addition to DePaul,
since the program’s inception in March 2005.
Playbook for Life was created by The Hartford, as part of the
company’s philanthropic focus on education
and its corporate partnership with the NCAA, to help student-athletes
gain a solid understanding of personal finance. More than 100,000
guidebooks have been distributed to date, and the program has been
widely praised by students, coaches, teachers and parents as a valuable
resource for helping all students and young adults make smart decisions
as they plan for their future financial success.
The Hartford survey was conducted among 1,108 college students and 1,086
parents of college students nationwide by Impulse Research Corporation
in February 2007 (with a margin of error of +/- 3 percent).
The NCAA is a membership-led nonprofit association of colleges and
universities committed to supporting academic and athletic opportunities
for more than 380,000 student-athletes at more than 1,000 member
colleges and universities. Each year, more than 54,000 student-athletes
compete in NCAA championships in Divisions I, II and III sports. Visit www.ncaa.org
and www.ncaasports.com for more
details about the Association, its goals and members and corporate
partnerships that help support programs for student-athletes.
The Hartford, a Fortune 100 company, is one of the nation's largest
financial services and insurance companies, with 2006 revenues of $26.5
billion. The Hartford is a leading provider of investment products, life
insurance and group benefits; automobile and homeowners products; and
business property and casualty insurance. International operations are
located in Japan, Brazil and the United Kingdom. The Hartford's Internet
address is www.thehartford.com.
HIG-C
Some of the statements in this release may be considered forward-looking
statements as defined in the Private Securities Litigation Reform Act of
1995. We caution investors that these forward-looking statements are not
guarantees of future performance, and actual results may differ
materially. Investors should consider the important risks and
uncertainties that may cause actual results to differ. These important
risks and uncertainties include those discussed in our Quarterly Reports
on Form 10-Q, our 2006 Annual Report on Form 10-K and the other filings
we make with the Securities and Exchange Commission. We assume no
obligation to update this release, which speaks as of the date issued.
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