UA Hosts 5th Annual National Duel in the Desert Competition
Personal finance case study competition will feature keynote speaker Glinda Bridgforth, nationally-renowned financial counselor, author and Oprah ‘Debt Diet’ coach
PHOENIX, Ariz. (Feb. 12, 2007)…The University of Arizona Take Charge America Institute and the Students in Free Enterprise (SIFE) are pleased to announce that the fifth annual Duel in the Desert personal finance case study competition will take place March 1 – 4 at the Marriott University Park Hotel in Tucson, Ariz.
Twenty-four teams of four students from colleges nationwide will be provided with a hypothetical case study about a hypothetical family facing severe financial dilemmas. In 36 hours, competitors must research the situation and design a workable and creative solution to the problems based on the family’s situation, economics, geography and resources. Students present their results to panels of expert judges who decide which team has best resolved the dilemma.
“The Duel showcases some of the nation’s brightest, financially-literate minds,” said Marcia Klipsch, Duel organizer and assistant director of the University of Arizona’s Center for Retailing. “With this competition, students are able to take what they have learned in the classroom and transfer it to a real-life case study scenario. As a result, the competitors are better able to understand and apply the principles of money management to their lives now and in the future.”
Glinda Bridgforth, a nationally-renowned financial counselor, will be featured as the keynote speaker and an expert judge. She is the founder of Bridgforth Financial, a consulting firm that offers a holistic approach to financial management, helping individuals explore the emotional, practical and spiritual aspects of their relationship with money. Bridgforth is the author of four books, including recently-released “Girl Get Your Credit Straight: A Sister’s Guide to Ditching Your Debt, Mending your Credit, and Building a Strong Financial Future.”
For the fifth year, Phoenix-based Take Charge America, a non-profit national consumer credit counseling company, sponsored the national Duel in the Desert, as well as the 12 regional competitions leading up to the event.
This year, three financial institutions provided additional major funding. Bank of America contributed $100,000, Chase Card Services provided $50,000 and Wells Fargo Bank N.A. provided $10,000.
Students participating in the Duel in the Desert are vying for $20,000 in cash prices. The first place team will receive $4,000, second place will receive $3,000, third place will get $2,000 and fourth will walk away with $1,000. The remaining 20 teams will each receive $500.
The following schools will participate in the Duel:
| Ashland University |
Boston College |
| Bryant College |
California State University-Bakersfield |
| California State University-Chico |
California State University-East Bay |
| Colorado State University-Fort Collins |
Drury University |
| Elmira College |
Liberty University |
| Metropolitan State College of Denver |
Pepperdine University |
| Purdue University |
Regent University |
| Roberts Wesleyan College |
Saint Frances University |
| Southwest Minnesota State University |
St. Cloud State University |
| Syracuse University |
University of North Dakota |
| University of North Florida |
University of Tulsa |
| University of Wisconsin-Madison |
Valdosta State University |
On March 1, students will participate in the opening reception, dinner, keynote address and case study distribution. Judging will take place on March 3. The following morning, students participate in a seminar on how to start a Credit-Wise team on their college campus.
The Duel in the Desert was developed to increase financial literacy among college students. According to the credit card industry, the average American household is carrying about $9,000 worth of high-interest debt, which doesn’t include mortgages. Nationwide, the Federal Reserve says we’ve amassed $800 billion in credit card debt. To help combat this problem, SIFE students are able to enhance their awareness of money management through this case study analysis.
"College-aged students are at vital turning point in their lives," said Mike Hall, chief executive officer for Take Charge America. "Financial habits developed during the early days of independence can last for years to come. The Duel in the Desert is an excellent learning experience for students who are on the verge of entering the workforce – it's helping to ensure their future financial success."
About Take Charge America
Founded in 1987, Take Charge America, Inc. is a non-profit organization headquartered in Phoenix, Arizona. TCA offers a variety of services including financial education, credit counseling, and debt management. To learn more about TCA or its programs please call 1-800-823-7396 or visit www.takechargeamerica.org.
About the Take Charge America Institute (TCAI) for Consumer Financial Education and Research
Located at the University of Arizona in Tucson, TCAI is part of the University’s well-regarded Norton School of Family and Consumer Sciences and was created to expand on existing outreach programs and research projects so that it could bring its considerable resources and expertise to bear on one of the nation’s most troubling problems – financial literacy. TCAI was funded through an endowment from Take Charge America. To learn more about the Institute visit http://cals.arizona.edu/fcs/tcai/
About SIFE
Founded in 1975, Students In Free Enterprise (SIFE) has grown to become one of the largest collegiate organizations in the world. SIFE Teams are active on more than 1,700 college and university campuses in 42 countries around the world. In the United States, approximately 900 schools are enrolled in SIFE. Working together as a team, and through the mentoring of a faculty advisor(s), SIFE students apply their classroom experiences to develop and implement educational outreach programs that teach individuals in their communities the principles of market economics, entrepreneurship, personal financial success and business ethics.