In the Northern California counties surrounding California State University, Chico, many low‑income families and individuals—including a substantial number of college students—experience food and housing insecurity alongside persistent financial challenges. To address this financial stress—one of the primary barriers to student retention and graduation—Chico State launched its Financial Wellness Clinic (FWC) in 2019. The program has a simple but powerful goal: to help students and community members feel informed and empowered as they navigate financial challenges.

With grant support from the Foundation for Financial Planning (FFP), Chico’s Financial Wellness Clinic (FWC) provides free, 1:1 financial planning to both students and community members on topics ranging from budgeting and debt management to planning for life after graduation and more. Led by Jaycob Arbogast, CFP® the FWC hires, trains, and supervises student “paraplanners” who handle the client intake process, gather basic data, take notes, provide guidance, and more. Student paraplanners are mentored by Jaycob as well as several CFP® professional volunteers from the community.

To ensure these services reach those most in need, the FWC collaborates with the Chico State Basic Needs Program and community partners like local financial planners, therapists, and a free law clinic.  Chico State’s Basic Needs Program provides students with essential resources like food, housing assistance, and emergency support to promote well-being and academic success.  Jaycob emphasizes the importance of creating a safe, judgment-free space where students can openly discuss their financial concerns. “Financial stress shouldn’t be a barrier to academic success,” he says

The FWC’s impact has been profound. Clients of the clinic report reduced financial anxiety and increased confidence in managing money. Many create their first budgets, learn strategies to pay down credit card debt, and start saving for emergencies. In addition to making financial guidance more accessible, the FWC also provides a valuable hands-on learning experience for financial planning students as they develop their skills under the mentorship of Jaycob and other CFP® professionals.

Student paraplanner Braden, was initially nervous about his role as a student-advisor with FWC but quickly gained confidence through training and shadowing more seasoned planners in engagements with underserved clients. Soon, he was leading his own meetings, helping clients set goals and create actionable plans. One memorable experience involved working with an academic advisor who wanted to save for a wedding ring, marriage, and a home purchase. Braden developed a budget, provided resources, and scheduled follow-ups to track progress. “It is amazing to help people in this way, and to make a big difference in their lives,” he reflects.

The emotional impact is undeniable. Braden recalls clients expressing deep gratitude—some even moved to tears. One student, recently homeless, learned how to budget for the first time as a stepping stone to economic stability. These moments reinforced Braden’s commitment to the profession and his desire to continue pro bono work throughout his career. Professionally, the clinic also gave Braden a competitive edge in the job market. His hands-on experience led to an internship at a large bank, where recruiters cited his client-facing experience and skills as a key reason for hiring him. Today, he’s interning at a local RIA while accumulating experiential hours toward CFP® certification, a testament to the program’s role in preparing future financial planners.

More than just a service, the FWC is a scalable model for financial empowerment. Because of the success of the FWC at Chico State, the California State University (CSU) system and private foundations, including the Evelyn and Walter Haas Jr. Fund, are supporting the development of FWCs on five other California State University (CSU) campuses, with the long-term goal of establishing these clinics on all CSU campuses. This expansion will help ensure that free, quality financial advice reaches California’s most vulnerable students and families while fostering financial planning education and a lasting culture of pro bono service among rising entrants to the field.