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Financial Literacy Initiative

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Financial Literacy Initiative. Decision Partners Joint Presentation NASSGAP 2008 ... all exercises, all printable fact sheets, expanded textual resources, and course ... – PowerPoint PPT presentation

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Title: Financial Literacy Initiative


1
Financial Literacy Initiative Decision Partners
Joint Presentation NASSGAP 2008
2
Introduction
  • CFI Objective Financial literacy education for
    all students in NC
  • Roadblocks
  • Lengthy development process
  • Lack of quality external programs

3
Our Solution
  • License Financial Literacy 101 online course
    from Decision Partners
  • Turnkey program
  • Rapid implementation
  • Ability to customize content
  • Professional design, integrates into CFNC.org
  • Built-in assessment, annual data report

4
About Decision Partners
  • 501(c)(3) non-profit organization founded in
    2004.
  • FinancialLiteracy101.org used in both high
    schools and colleges.
  • Endorsed by College Parents of America, American
    School Counselor Association (MA), and American
    College Personnel Association.

5
Why Financial Literacy?
  • Debt is a significant and growing problem for
    young adults
  • Average undergrad student loan debt is now
    20,000
  • 1 in 3 recent grads have additional credit card
    debt of 10,000
  • Nearly 60 of freshmen report that their
    financial situation distracts them from their
    school work
  • Poor credit scores contribute to much higher
    payments on private student loans, decreased
    employment opportunities
  • Financial stress is a major contributor to
    dropping out of school
  • Soon to be a requirement mandated by revised
    Higher Education Act for all student loan
    guarantors and universities receiving certain
    federal grants (GEAR UP, TRIO, etc).

6
Our Key Principle
We see financial literacy education as a
behavior-focused prevention effort tied to times
of transition.
7
A Multipronged Approach
  • Use online delivery to personalize financial
    literacy education to each student based on their
    age, learning needs, and survey responses, while
    integrating proven prevention strategies.
  • Educate entire populations for greatest cultural
    impact class, school, campus and state.
  • Involve parents/schools/communities in
    acknowledging and addressing problem.

8
CFNC.org Course Integration
  • Two courses one short course for grades 11 and
    lower, another for grades 12 and higher
  • Courses have look and feel of CFNC.org
  • Linked to from Paying for College and Student
    Planner pages
  • Teacher guide and additional resources online
  • Hosted and managed by Decision Partners
    integrates with CFNC database through secure
    (SSL) link, no IT support required

9
Course Overview
  • Interactive, multimedia chapters for each course
    teach key lessons - from understanding student
    loans to budgeting and avoiding credit card debt.
  • Linear learning model like an in the
    classroom course.
  • Engaging curriculum useful for auditory, visual
    and kinesthetic learning styles.

10
Course Overview Surveys
  • Pre and post-course surveys collect student
    financial knowledge, attitudes, behaviors,
    learning gains, and course feedback
  • Used to customize certain parts of the course
  • Aggregate survey data delivered in yearly report

11
Course Overview Multimedia
  • Over a dozen multimedia modules give overviews of
    key content area
  • Ensures that students are engaged with the
    content regardless of learning style, meets
    expectations of Digital Generation
  • Students may save modules to their personalized
    page for more detailed textual information

12
Course Overview Interactive Exercises
  • Provide students with personalized feedback on
    their financial expectations
  • Exercises include credit card repayment, loan
    repayment, budget calculators, and
    post-graduation Real World calc
  • Links abstract financial concepts to each
    students life experience

13
Course Overview Quizzes
  • Reinforces most important concepts
  • Students get reasons why an answer was right or
    wrong after each question
  • Students may retake missed questions at the end
    of the course to raise their grade

14
Course Overview Personalization
  • Each student builds their own My Money page
    when using the course
  • Includes a financial goals journal,
    student-selected web links, saved content from
    the course, all exercises, all printable fact
    sheets, expanded textual resources, and course
    progress/review

15
Course Overview Instructors Guide
  • Gives teachers and guidance counselors everything
    they need to plan activities around the course
  • Includes curriculum overview, links to all
    multimedia modules, fact sheets and other online
    resources
  • Separate guides for high school and college
    courses

16
Course Overview Assessment
  • Real-time administrative control panel for
    viewing exporting user progress data
  • Each student receives a course completion
    certificate with secure code great for in the
    classroom integration as a homework assignment
  • Yearly report offers student insight through
    aggregate survey data

17
Student Feedback
  • Students react well to Financial Literacy 101.
    Based on responses from our 2007 statewide
    financial literacy program for high school
    seniors in MA
  • 97 percent would recommend the course to
    friends
  • 94 percent said they learned a lot from this
    course
  • 77 percent found the course interesting
  • Over 90 percent of students agreed that the
    course increased their understanding of credit
    cards.

18
Financial Literacy Outreach Initiatives
  • School counselors teachers
  • Complement the financial literacy modules offered
    in schools
  • Financial aid administrators
  • Fill the need to inform incoming (or outgoing!)
    students
  • Students and parents
  • PTAs or church programs

19
Collaboration
  • Department of Public Instruction
  • Presenting at DPI conference on financial
    literacy initiatives
  • Supplemental material for the curriculum
    developed for 10th graders

20
Thank you!
To learn more about Decision Partners, please
contact Austin Jackson at (617)
869-2623.www.decisionpartners.org
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