Financial Literacy Initiative Decision Partners Joint Presentation – NASSGAP 2008

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 student’s 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: Instructor’s 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