Section 11-1904 - Financial coaching services(a) A financial well-being coach shall: (1)(i) Assist students in understanding the students' personal financial needs and resources;(ii) Assist students in the process of making informed personal financial decisions;(iii) Share relevant financial literacy resources with students; and(iv) Assist students in managing personal financial obligations during college and after graduation;(2) While providing the support services listed in item (1) of this subsection, focus on: (i) The behavioral and emotional aspects of personal finances; and(ii) How a student can successfully achieve personal financial goals and establish healthy financial habits;(3) Carry a caseload that is comparable to the caseload of an academic advisor at the participating institution of higher education;(4) Survey each student before the student begins financial coaching services and after the student completes financial coaching services and evaluate the effectiveness of the financial coaching services; and(5) At the end of the Pilot Program, create a document with best practices, processes, and guidance that other institutions of higher education can use to create a financial well-being coaching program.(b)(1) A financial well-being coach may provide financial coaching services to students in the following settings: (i) Group coaching sessions;(ii) Individual coaching sessions; and(iii) During the financial well-being coach's drop-in advisory hours.(2) When scheduling individual coaching sessions, a financial well-being coach shall prioritize students who: (i) Most likely will have a debt to potential future income ratio that will lead to a monthly loan payment greater than 10% of the student's projected future income;(ii) Have an annual household income that is at or below 185% of the federal poverty level as determined annually by the U.S. Department of Health and Human Services; or(iii) Lack financialskills and financial literacy education. Added by 2024 Md. Laws, Ch. 342,Sec. 1, eff. 7/1/2024, exp. 8/1/2027.