Thank you for your continued partnership and assistance in making the Education Cents program a success!
With our wonderful colleagues at the Colorado Department of Higher Education, we are beginning to study outcome-oriented measures of the effectiveness of the Education Cents program. Though our program is still relatively new, we are seeing some exciting things!
Financial education outcomes can be difficult to measure. Many measures are self-reported which, while valuable, are often difficult to verify. So, instead of focusing our outcome-oriented analysis on general measures of financial capability – things like opening a bank or credit union account, maintaining an emergency fund, paying down debt, and managing a budget – we’ve decided to analyze measures specifically related to higher education financing. We’re looking at FAFSA completion, matriculation to college, college retention and completion, and student loan borrowing habits. We’ll report more findings as we have them, but a couple of exciting early studies have found…
Almost 99% of the 2010 HS seniors who used Education Cents have completed a FAFSA (compared to the state average – 47%). This is important because students who complete a FAFSA are much more likely to enroll in higher education and have taken positive steps to access financial aid.
Only 1.7% of the users for whom we have financial aid data borrowed private education loans (compared to a national average of 14%). This is important because private education loans often carry higher, variable interest rates and should usually be considered a last-resort type of financial aid, after all federal aid options are exhausted.
While it is difficult to determine the direct cause of student behaviors, because our findings are so strong, we believe that this early data points toward Education Cents making a positive impact on student outcomes. We know that financial education can influence financial and educational behaviors and we are proud of our efforts to contribute to student’s success.
NEW FEATURES AND FUNCTIONALITY
We make program and functionality changes based on our users’ feedback. If you have a suggestion or if you have any questions about our new functionality, don’t hesitate to let us know
Facilitator updates– updates to our learning management system and professional tools. To learn more and get access visit the Groups Page.
Group communication alerts – Each time you provide new information to your group through your message board, forums, polls or media libraries, an alert will be sent to your group members. For groups created before November 1st, just open your group, click “manage the group” in the Group Admin navigation section on the right-side of the page, and check the “send content notifications” option. For all new groups created after November 1st, the default will be set to send notifications and you may choose to deselect that option if you do not want to notify your group of group activity.
Hide old groups – You’ll now have the ability to make groups inactive so that you don’t see them in your active groups list. To deactivate a group, just open your group, click “manage the group” in the Group Admin navigation section on the right-side of the page, and deselect the “group is active” option. You’ll still be able to access inactive groups, but they’ll be hidden under “inactive groups” in the My Groups navigation section on the right-side of the page.
Identity Theft materials – We recently completed our Identity Theft presentation, action worksheet and financial IQ quiz. All of these resources are now available in the Facilitator Resources pages. Access to all of our facilitator resources is completely free and is available to all Education Cents Group Facilitators. To learn more and get access visit the Groups Page.
NEW PARTNER RESOURCES
with many excellent financial education providers. These are a few exciting new resources for educators and organizations.
Junior Achievement’s Finance Park – This new program, currently only available in the Denver metro area and presented by Great-West Life, helps students build a foundation for making intelligent, lifelong, personal financial decisions through hands-on, realistic site-based experiences. The program includes in-school, teacher-led activities culminating in a visit to JA Finance Park and a post-visit assessment. Visit Junior Achievement online or contact Stephanie Murphy for more information, email@example.com or (303) 260-6284.
The Federal Reserve Bank of Kansas City’s online Core Concepts Cards – The Core Concept Cards website, from the Federal Reserve Bank of Kansas City, provides a strong foundation of economic and personal finance vocabulary for secondary students. Games, activities and online interactives are available to help students develop an economic way of thinking and advanced money management skills.
Check our calendar
for upcoming events throughout the year and be sure to follow us on Twitter
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Education Cents Train-the-Trainer Events
These day-long events provide information on using the Education Cents program and teaching personal finance.
We've just completed our fall train-the-trainer series and have already begun scheduling for the spring. If you are interested in attending a train-the-trainer event or hosting an event in a computer lab, please let us know
. We publish a list of upcoming train-the-trainer events as they are scheduled, on our For Partners
Fiscal Fitness workshop
Save The Date – January 26-28, 2012
Front Range Community College, Westminster, CO
The Colorado Jump$tart Coalition offers this free, hands-on, 3-day workshop to build knowledge about personal finance to reinforce your excitement and ability to bring the same knowledge to students. This workshop is made possible by the generous support of Great-West Life. Benefits include:
Reimbursement for substitutes for Thursday & Friday, personal stipend for Saturday
Free materials for you and your classroom
Graduate credit available