100,000 Students, 300 High Schools (and Counting) Succeed With Innovative Financial Education Curriculum

by | 08/19/14 | Commentary, News, Uncategorized

The financial literacy industry is buzzing over the recently announced success of online financial literacy curriculum co-developed and launched by education technology firm EverFi and the Genworth Foundation, the charitable giving arm of Fortune 500 financial services giant Genworth Financial. The “My Money, My Future” financial education initiative is receiving accolades for its scope, as it has not reached 100,000 students in approximately 300 high schools.

The program also is receiving broad praise for its innovative nature for a few key reasons. First, the My Money, My Future curriculum is web-based and interactive, which increasingly is how students want to access financial and other educational resources. Moreover, given that the program is Internet-based, it does not require expenses on the part of schools or taxpayers. The new media technology, which includes gaming, avatars and simulations, is being hailed as a “win-win” for best connecting with students in the new digital age, while addressing today’s economic realities by avoiding greater expenses that otherwise would be assumed by schools and taxpayers.

Recent Genworth research shows that the millennial cohort is the most motivated group to save their money because they have not only seen the financial burdens dealt with by their parents and grandparents, but they also are understanding, acknowledging, and seeking to espouse the advantages of greater financial education.

Corporate, government, educational and community-based organizations also are taking notice. To that point, nearly fifteen financial institutions in Virginia co-sponsored the program in the communities that they serve. The program has now been adopted by more than eighty percent of Virginia's public high schools, and the courses cover a variety of financial topics, like credit scores, insurance, credit cards and student loans. Importantly, the platform tracks the progress and performance of participants and also gives those who complete the program a certification in financial literacy, for which the students are very proud. And rightfully so, as their greater financial literacy will serve them well as they move into adulthood with more empowerment to manage their personal financial affairs much more successfully.

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