New research links early education to positive behaviors later in life
[ By JAMES RICHARDSON ]
HUTCHINSON, Kan. — In celebration of April’s Financial Literacy Month, Prairie Bank of Kansas announced that its schools-based financial education program is making a positive impact on students’ understanding critical financial topics. Data collected from more than 122 students who completed the program in the 2013-2014 academic year revealed that students’ understanding of credit scores increased by an average of 27 percent after interacting with the curriculum.
Prairie Bank of Kansas’ program is a web-based interactive course designed to empower young people with the essential skills needed to make sound financial decisions. Prairie Bank of Kansas has partnered with the leading education technology company EverFi to bring this interactive program to four high schools in Stafford, Buhler, Inman and Hutchinson.
A FINRA-funded study released in February 2015 found that students who received rigorous financial education in high school saw increased credit scores and decreased chance of credit delinquency as young adults, compared to their peers who did not receive financial education. The study went on to say that these positive outcomes are most pronounced when rigorous financial education is mandated in a school setting. The EverFi program is implemented in a co-curricular basis, providing teachers with a valuable tool to use with students in a classroom setting.
“More and more evidence suggests that rigorous financial education delivered early in a young person’s development leads to positive financial behaviors later in life,” Jeannette Richardson, Prairie Bank of Kansas vice chairman, said. “By providing high school students with the knowledge and skills they need to make smart financial decisions, we are investing in the future economic well-being of the communities we serve.”
Prairie Bank of Kansas has partnered with EverFi to bring the program to local students at no cost to schools or taxpayers. The web-based program uses the latest in new media technology — simulations, gaming and adaptive-pathing — to bring complex financial concepts to life for today’s digital generation. The high school course offers over six hours of programming with ten units in a variety of financial topics including credit scores, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401k’s and other critical concepts that map to national financial literacy standards. The platform uniquely tracks the progress and performance of every student.