Incorporating a Financial Literacy Program into FYE

1. Incorporating a Financial Literacy Program into FYE The crisis in Financial Literacy and the need for new approaches to reach digital learners Kathy GriffinChris Olson

2. Today’s Discussion Financial Literacy Problem Digital Learners are different MoneyU is different Demo Efficacy results Q & A 2

3. Personal Finance Knowledge • Define credit card vocabulary • Investigate credit card contracts and fine print • Describe 6 steps of credit card transaction including benefits and pitfalls • define different payment types including cash, debit card, credit card and campus card • Good Financial Practices • Describe advantages of paying off credit card debt every month • Recognize financial success requires self control • Outline the components of a good conversation with banking personnel including negotiation of lower rates and fees. • Financial Tips and Pitfalls • Compare 5 different credit cards looking for terms, conditions, fees, rates and minimum payments. • Recognize minimum payment trap by using the Cash Payment Savings Calculator Questions for the Group • Where is FYE administratively located at your school? • Is your institution committed to the problem of Financial Illiteracy? • How many are getting ready to implement a Personal Finance component? • Those with a Personal Finance component, what are your challenges? 3

4. Key Points MoneyU works – proven! Engaging, appealing to Digital Learners Comprehensive, standards-based content Builds skills, not just awareness Self directed, no teacher required Impressive efficacy 4

5. Key Points MoneyU works – proven! Flexible implementation As a Class, Individually, or in Peer-led groups On students’ own-time Learning management system Scalable mentoring and intervention 5

6. Key Points MoneyU works – proven! Flexible implementation Costs less than a textbook Institutional pricing Leverages FYE staff and resources 6

7. Key Points MoneyU works – proven! Flexible implementation Costs less than a textbook 7

8. Today’s Discussion Financial Literacy Problem Digital Learners are different MoneyU is different Demo Efficacy results Q & A 8

9. Listening, Watching Class-time, Classroom Boring lecture An hour at a time Expert required Textbooks, studying 30 hours to “get” it Class size limit Homework $100 - $1000 per head Playing, Experimenting Own-time, anywhere Engaging games Minutes at a time Facilitator available Internet, doing 10 hours to “get” it Limitless class size Home play $33 - $70 per head MoneyU: a Different Approach

10. Today’s Discussion Financial Literacy Problem Digital Learners are different MoneyU is different Demo Efficacy results Q & A 10

11. Personal Finance Knowledge • Define credit card vocabulary • Investigate credit card contracts and fine print • Describe 6 steps of credit card transaction including benefits and pitfalls • define different payment types including cash, debit card, credit card and campus card • Good Financial Practices • Describe advantages of paying off credit card debt every month • Recognize financial success requires self control • Outline the components of a good conversation with banking personnel including negotiation of lower rates and fees. • Financial Tips and Pitfalls • Compare 5 different credit cards looking for terms, conditions, fees, rates and minimum payments. • Recognize minimum payment trap by using the Cash Payment Savings Calculator What does MoneyU deliver? • Knowledge • Skills • Good Practices 11

12. Why is MoneyU engaging? Interactive Multimedia Video Cartoons Simulations Calculators Context-driven Reference Library Question Based Learning Self-tests comprehension Gives immediate feedback 12

13. Solid, comprehensive content Standards Mapped to Jumpstart guidelines Mapped to state Personal Finance curricula standards Substantial Reference Library Context-driven 13

14. Key Benefits Better Financial Decision Making By Students Students build skills online for homework ensuring they attain critical skills for financial independence and wealth building. BOTTOM LINE: Fewer dropouts due to credit card debt or financial mismanagement

15. How to use MoneyU? • As a summer prerequisite • As a student-led discussion in the dorms • As a learner-paced standalone • Students access course on their own time • FYE conducts wrap-up • More effective intervention • In a Senior transition program • In Career Planning Programs • Faculty-led for-credit course

16. Powerful Management System 16 Provides instructor with student performance data

17. Demo

18. Description of the Studies • Four separate studies (N=187) • WCC HS N=73 • AAC CC N=35 • MBM HS N= 60 • CZM HS N= 19 • Pre and post-test scores were obtained • Same 50 questions. • Instruction covered 120 lessons across 8 topics in a game based, learner-paced format

19. Methods • Means and SDs were computed • t Tests were calculated • Effect sizes were calculated • Effect size tells the difference between the mean scores in standard deviation units • Effect size of .3 is small • Effect size of .6 is medium • Effect size of .8 is large

20. Total Sample Results

21. Does It Work?

22. Beta Conclusions • Across different schools, ages, demographics • The effect size is consistently very large • Students’ knowledge increases substantially • MoneyU works!

23. Backup slides

24. Institutional Pricing Retail price = $75/license

25. Pre-Post Test AAC Community College • N = 35 college students • Mean number of days to completion = 8.11 days(SD = 5.8) • Pre Post mean scores differed significantly t = 7.01 (p < .0001)

26. Pre-Post Test CZM HS • N = 19 HS Seniors • Mean number of days to completion = 18.8 days (SD = 6.9) • Pre Post mean scores differed significantly t = 5.75(p < .0001)

27. Pre-Post Test MBM HS • N = 60 HS Seniors/Juniors • Mean number of days to completion = 22.2 days(SD = 3.8) • Pre Post mean scores differed significantly t = 16.9 (p < .0001)

28. Pre-Post Test WCC HS • N = 73 HS Seniors/Juniors • Mean number of days to completion = 17.7 days (SD = 5.0) • Pre Post mean scores differed significantly t = 10.69(p < .0001)

29. Key Points MoneyU works – proven! Flexible implementation Costs less than a textbook 29

30. Check it out! • Request the Powerpoint Handouts • See us at Booth #21 • Register for the Demo • Attend a Webinar • Request a Guided Tour for your team • Enroll in the Educators Learn Free program • Talk to our clients

31. Contact Katherine Griffin 240.314.7181 w 301.502.8049 m KathyGriffin@MoneyU.com Chris Olson 847.573.9978 w 847.274.0725 m ChrisOlson@MoneyU.com www.MoneyU.com

32. Questions?