Higher education administrators know it is more cost-effective to keep students than to recruit them. Understanding financial literacy--and how it impacts student retention and persistence on the campuses--is an important concept for administrators to comprehend. Most students are not financially literate when they enter the world of higher education. As such, there are cases wherein academically prepared students leave their institutions due to "financial reasons." In this article, the author presents what some institutions are doing to address this issue on financial literacy.