Chaiken Scholar empowers peers through financial literacy

UNIVERSITY PARK, Pa. — Nick Hotalen, a third-year Penn State student pursuing degrees in economics and mathematics, is not just crunching numbers — he’s shaping futures. As a Chaiken Scholar and a Sokolov-Miller Family Financial and Life Skills Center ambassador, Hotalen uses his expertise to teach financial literacy to fellow students. Over the past three years, he has made budgeting and personal finance accessible to students in LA 083 First-Year Seminar in the Liberal Arts courses, including sections for Chaiken Scholars.

“My presentations to first-year Chaiken Scholars are one of my favorite parts of the semester,” Hotalen said. “It’s a way to give back to the Chaikens and the Liberal Arts Chaiken Center for all they’ve helped me with.”

Hotalen’s decision to pursue dual majors stemmed from an initial interest in obtaining a doctorate in economics, he said. Although he has shifted his career aspirations, his interdisciplinary studies continue to benefit him on his path to becoming an actuary.

“Economics provides a unique perspective to my actuarial work, complementing the technical background from my math degree,” he explained.

Outside of academics, Hotalen’s interest in financial literacy shines through his role at the Sokolov-Miller Family Financial and Life Skills Center. Initially drawn to the position for its emphasis on helping others, Hotalen said he quickly realized the value of teaching financial skills to others — something he has enjoyed doing immensely since attending high school in Bordentown, New Jersey.

Practical experiences with real-world impact

Last summer, Hotalen interned with the New Jersey Department of Labor and Workforce Development. The experience gave him the opportunity to navigate the complexities of public safety and health initiatives and challenged him to adapt quickly. It also solidified his understanding of workplace dynamics.

Looking ahead, Hotalen said he is excited to participate in an actuarial internship with SageSure, a property insurance company based in Cheshire, Connecticut, this summer. This opportunity will allow him to apply his studies directly to his future career in pricing actuarial work.

“I’m thrilled to be learning from a team doing exactly what I aspire to do after graduation,” Hotalen said.

Beyond the classroom and his internships, Hotalen is an active member of the Penn State Club Powerlifting team and a devoted soccer and football fan. He balances these pursuits, he said, with the support of a tight-knit Penn State community that has made the University feel like home.

Reflecting on his experiences, Hotalen emphasized the importance of time management and organization — skills that have proven essential in his busy schedule. His advice to fellow students? Learn to distinguish between wants and needs when managing finances, and trust your instincts.

“Financial literacy is deeply personal, and understanding your priorities can make all the difference,” he advised.

A grateful scholar

For Hotalen, being a Chaiken Scholar is more than a title; it’s a source of confidence and gratitude, he said. The support he’s received from the Liberal Arts Chaiken Center for Student Success has propelled his academic and professional journey, inspiring him to give back to the Penn State community.

“Knowing that there are people who believe in my success has been incredibly motivating,” Hotalen reflected. “I’m deeply grateful to the Chaikens for everything they’ve done for me and the University.”