Boiling Springs Savings Bank Delivers 44,322 Hours of Learning through Online Financial Program - September 4, 2018
In the 2017-2018 academic year, more than 16 high schools implemented EVERFI, a free, digital financial education program. Boiling Springs has partnered with EverFi, Inc. to bring this interactive, web-based financial management program to over 9,532 students since the program’s inception in 2012.
In the 2017-2018 academic year, more than 16 high schools implemented EVERFI, a free, digital financial education program. Boiling Springs Savings Bank has partnered with leading education technology company EverFi, Inc., to bring this interactive, web-based financial management program to over 9,532 students since the program’s inception in 2012. In 2018, the program reached more than 1,952 students.
The students completed 9 individual modules of learning during the 2017-2018 school year. Students’ understanding of key financial topics rose by an average of 70% based on pre- and post-assessment scores. Among the valuable topics covered were saving, banking, payment types, credit scores, financing higher education, renting vs. owning, insurance and taxes, consumer protection and investing.
According to recent EverFi survey data, 87% of parents talk to their kids about money but only 43% of parents describe themselves as 'well prepared' to teach their kids about money, and many do not discuss more complex concepts like credit, financing higher education, or building wealth, focusing instead on values and rules-of-thumb like saving, managing spending, and avoiding debt. These statistics support the need for financial education in a school setting, where all students have an equal opportunity to learn essential financial skills. EVERFI is implemented in a co-curricular basis, providing students with the opportunity to develop healthy financial attitudes and behaviors in a classroom.
Boiling Springs Savings Bank's partnership with EverFi, Inc. brings the program to local students at no cost to the schools or the taxpayer. Administered by teachers in a classroom setting, the online course offers over six hours of programming on a variety of critical concepts that map to national financial literacy standards. The platform uniquely tracks the progress and performance of every user, further helping to set students on a path to financial security and a successful life.
"Helping students and adults develop a foundation of financial understanding and capability is absolutely critical," said EverFi Founder and CEO Tom Davidson. We are grateful for our partnership with Boiling Springs Savings Bank who is tackling this issue head on and taking positive steps to prepare young people with the critical financial management skills needed to be savvy, responsible consumers.”