Marvah Philidor was raised by a single mother and is a first-generation college student.

“Seeing that she sacrificed so much, and I know she doesn't regret it. But I just wish she just got to experience what it was to be like in college," says Philidor, a senior at University at Albany.

What You Need To Know

  • The University at Albany received a $4 million grant to start the Financial Assistance Coaching & Tools for Success, or FACTS program

  • The program will hire financial coaches certain students can take advantage of

  • The coaches will help with things like FAFSA applications, applying for grants and scholarships and navigating paid on-campus opportunities

Since college was a new experience for her, when she started, her academic advisors, Marcelle and Chris, taught her and continue to teach her about financial literacy.

“Once I saw that they were such pure souls, I was like, they could really help me throughout this journey because I'm three hours away from my house. I'm very family-oriented, and I know nothing about financial aid. I know nothing about higher education," Philidor said.

In an effort to help other students with financial literacy, the University at Albany received a $4 million grant to start the Financial Assistance Coaching & Tools for Success, or FACTS program, which helps with the hiring of financial coaches that certain students can learn from.

According to the State University of New York, the graduation rate for a four-year SUNY school based on data from the 2016 cohort was 56 percent. This program hopes to reduce financial barriers so students stay in school and can focus more on their academics.

The coaches will help with things like FAFSA applications, applying for grants and scholarships and navigating paid on-campus opportunities.

“So a lot of people think about the financial aid package and they say, 'OK, once I get my package, I'll know how I'm going to pay for college.' The reality is a lot of students still have a financial gap between what they're awarded and what the cost is. The true cost of coming to college. So these coaches will help students understand both what that gap is and work with them to find opportunities to fill that gap," explained Joanne Malatesta, dean of undergraduate education at UAlbany.

While the program is the first of its kind in the SUNY system, other schools have similar financial resources. Marvah said if this kind of help was available when she started, it would have helped her tremendously.

“Especially, because when it comes to financial situations, like I said, some people are not fortunate and without the resources. How do you expect to go to college and finish without thinking, 'my gosh, this is going to strain my mental health and it's going to affect my academics,'" Philidor said.