VCU’s Financial Success Center sees some students struggling with everyday expenses

RICHMOND, Va. — As more college students struggle to afford basic expenses, Virginia Commonwealth University’s Financial Success Center by Virginia Credit Union is seeing a shift in the financial concerns students bring to its coaches.

Amy Pridemore, executive director of the center located inside the university’s School of Business, said students who once asked about investing and cryptocurrency are now increasingly focused on paying their bills.

The center, founded in 2019 with a $5 million endowment from Virginia Credit Union, offers free, one-on-one financial coaching to help students navigate budgeting, credit, debt and savings.

“Everybody wants to learn how to grow and build their wealth,” Pridemore said.

But she said the conversations have changed as students face growing financial pressures.

“But this semester, specifically coming into this year, the conversation has very much shifted into how do I pay for my bill [tuition],” Pridemore said. “When we look at the federal legislation that has come down, students aren't getting as much aid as they historically have in the past.”

A signification portion of VCU’s student body is considered low-income, Pell-eligible, and first-generation.

The challenges reflect a broader trend among college students nationwide. According to Trellis Strategies’ Fall 2025 Student Financial Wellness Survey, 54% of students at two- and four-year colleges experienced at least one form of basic needs insecurity. The same percentage said they would struggle to access $500 for an unexpected expense.

Pridemore also said she is seeing students increasingly turn to Buy Now, Pay Later services, including Klarna, Afterpay and Affirm, to cover everyday purchases.

“I think it's the modern-day layaway of our generation,” Pridemore said. “But at least we didn't get the items until you actually paid it off. Whereas now, you can Afterpay DoorDash, which is crazy.”

She also raised concerns about students relying on credit cards without plans to repay what they borrow, warning that risky financial decisions early in life can affect their ability to qualify for major loans later, including when buying a car or a home.

Since opening, the Financial Success Center has served more than 12,000 VCU students and holds more than 400 coaching appointments each semester. The center also offers financial education to faculty, staff, alumni and members of the broader Richmond community.

On Tuesday, Oct. 20, VCU and the student organization Developing Men of Color hosted an evening of leadership development and financial wellness at Altria Theater, in partnership with Mastercard and Virginia Credit Union. The event included a leadership dinner for Developing Men of Color members and a keynote address from Heisman Trophy winner Bo Jackson, open to the wider VCU community.

Virginia Credit Union recently opened a similar financial success center at Radford University, with $2.5 million in funding.

“We view the creation of the VCU Financial Success Center as an extension of our credit union’s mission to help people live confidently by ensuring they have the knowledge, tools and resources necessary to make informed financial decisions,” said Cherry Dale, Virginia Credit Union’s financial education director. “The center’s leadership, staff and student financial success coaches are also connected to and committed to that mission, and we are so proud of their efforts, impact and success.”

Students can schedule free, one-on-one appointments with trained peer financial success coaches through VCU’s Financial Success Center.

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