Workshops Seek to Increase Financial Literacy of AAPI

The moderator asked members of the audience to raise their hands if they believe loans are supposed to be paid back.

After every hand in the room flew up, he asked them to do the same if they believe grants are supposed to be paid back. Confused expressions spread across some of their faces, and many hands remained raised.

Neil Horikoshi is the APIASF president and executive director.When the moderator asked whether scholarships are supposed to be paid back, many of the people glanced around the room to check the responses of others. Some hands remained up, a few did not. Meanwhile, other hands came down before those people changed their minds and raised them once again.

This was an opening exercise to gauge the financial literacy of Asian American and Pacific Islanders (AAPIs) who have attended one in a series of workshops around the country focused on college financial aid and career planning.

Begun in 2013, the free-of-charge, weekend workshops target AAPI high school students, college freshmen and sophomores and their parents — especially families who lack college-going experience.

The events are held at U.S. college campuses that have federal designation as Asian American and Native American Pacific Islander-Serving Institutions (AANAPISI). Ten percent or more of undergraduates at each of these schools are AAPI and at least 50 percent of all students there, regardless of race, rely on Pell Grants or other federal aid.

The next workshop is Saturday at the University of Massachusetts Boston.