Nebraska Educational Savings Trust Impact Report 2016-2017

Nebraska Educational Savings Trust Digital Education Impact Report 2016-2017 School Year

Agenda Program Review 2017-2018 School Year Events 2

EverFi Financial Literacy & Vault Understanding Money

Financial Education Program Reach For the 2016-2017 School Year Since our founding in 2008, EVERFI s financial education courses have reached millions of students in communities across the country. Your partnership provides these digital education resources to schools in your community at no charge to the school or district, ensuring that students receive the engaging financial education resources they deserve. Your Impact 30,866 Hours of Learning 9,821 Students 173 Schools EverFi 132 Schools 6,643 Students Vault 68 Schools 3,178 Students 4

Community Investment Impact For the 2016-2017 School Year Nebraska Educational Savings Trust and EVERFI are both committed to delivering high-quality, unbiased financial education at scale to schools in the highest need communities at no cost to the students, schools, or taxpayers. The courses students receive align with state, national, and Jump$tart Coalition financial literacy standards and are recognized by the CFPB as being a trusted resources for financial education. Your Impact in Low- to Moderate-Income Communities 4,308 Hours of Learning 2,006 Students 35 Schools After receiving financial education, students report a substantial increase in preparation to apply for financial aid. EVERFI defines low- to moderate-income schools as those where more than 50% of students are eligible for free- or reduced-price lunch programs, based on data from the National Center for Education Statistics (NCES). 5

Student Demographics Gender Grade Level Male 51% Middle School 1% Female 49% Freshman 22% Sophomore 31% Junior 22% Senior 24% Parents Education Race & Ethnicity Black/African American 5% Some high School High School Graduate/GED Technical College Graduate 15% White/Caucasian 77% 13% Hispanic/Latino 12% 2% Asian/Pacific Islander 3% Some College 12% Native American Indian 1% College Graduate 36% Other/No answer 3% Graduate Degree 23% 4

Knowledge Gain: EVERFI After taking EVERFI Financial Literacy, your students increased their scores on assessment tests by an average of 63%. Here s how they performed by topic: Score % After Lesson Score % Before Lesson 88 85 84 84 83 83 83 82 81 66 55 53 51 50 50 48 45 43 Savings Banking Payment Types Credit Scores Financing Higher Ed Renting vs Owning Insurance and Taxes Consumer Protection Investing Students showed the most gain in Financing Higher Education and Investing. 7

Knowledge Gain: Vault After taking Vault Understanding Money, your students increased their scores on assessment tests by an average of 33%. Here s how they performed by topic: Score % After Lesson Score % Before Lesson 89 89 88 84 84 83 76 72 62 62 59 58 Responsible Money Choices Income and Careers Making Plans with Money Credit and Borrowing Insurance and Safety Savings and Investing Students showed the most gain in Responsible Money Choices and Savings and Investing. 8

Preparedness: Money Management Research shows that feelings of self-efficacy confidence in one s ability are an important outcome of financial education, contributing to financial capability into adulthood. After taking EVERFI Financial Literacy, students are more confident and better prepared to make financial decisions. Here s what they told us there are now prepared to do after taking a financial education course: Decide how much of their money to spend and how much to save. Up 19% from before the course. 65% Choose the right type of bank account for their money. Up 35% from before the course. 62% Know which payment type to use for a purchase. Up 20% from before the course. 67% Check their credit score and understand what it means. Up 106% from before the course. 59% 57% Apply for financial aid or loans to help pay for college. Up 85% from before the course. Decide whether to rent or buy a home in the future. Up 32% from before the course. 63% 9

From Students and Educators From Students I liked that it was very specific on how to fill out certain forms and explain every part of them. Student Millard South I like that they take the time to explain everything and have activities you can participate in to help understand it better. Student Dundy County High School From Teachers 93% of teachers would recommend the EVERFI course they used this year to a fellow teacher. The EverFi program is an invaluable resource for our students as a method for engaging instruction in the principles of financial literacy. We include this program in our economics course because of its relevant and authentic application to students lives. Students grow as a result of this program in extremely positive ways both in their understanding of financial literacy and their interest in the subject matter. With quality design and implementation support, EverFi makes blended learning instruction much more accessible for a greater number of teachers. Assessment, Research, and Evaluation Social Studies Curriculum Director, AP Coordinator Des Moines Public Schools, Iowa Consultant Niagara Catholic School District, Ottawa 8

Venture Entrepreneurial Expedition

Venture Entrepreneurial Expedition Program Reach For the 2016-2017 School Year Venture Entrepreneurial Expedition guides students through their personal journey to become an entrepreneur. While starting a food truck business, students learn to make informed business decisions about their product, pricing, hiring, marketing, and even their business pitch for a potential investor. EverFi and our partners provide an immersive learning environment to communities across the country at no charge to schools or districts, ensuring that students are exposed to educational resources that they deserve. Your Impact 2,440 Hours of Learning 1,310 Students 34 Schools Venture courses cover everything from introductory topics like what is an entrepreneur and entrepreneurship in everyday life to advanced topics like market research and business pitches. After completing your entrepreneurial education program, students have a more thorough understanding of entrepreneurial concepts and are better prepared to engage in entrepreneurial thinking in their academic and professional lives. 12

Knowledge Gain: Venture After taking Venture Entrepreneurial Expedition, students increased their scores on assessment tests by an average of 74%. Here s how they performed by topic: Score % After Lesson Score % Before Lesson 96 82 90 86 75 74 71 66 64 59 51 39 Students showed the most gain in Value propositions and Business pitches. 13

Closing the Gender Gap in Entrepreneurial Skills While students across the board felt more prepared to engage in entrepreneurial activities after taking Venture, the increase in preparedness among girls is particularly significant. Prior to taking Venture, girls consistently felt less prepared than boys to engage in a number of entrepreneurial activities. After taking the course, girls and boys feel equally prepared to engage in a number of entrepreneurial activities, effectively closing the gender gap. Prepared Prepared to understand risk to understand risk involved with a business involved with a business Prepared to identify Prepared to identify business opportunities business opportunities Prepared to describe an Prepared to describe an effective business pitch effective business pitch Boys Girls 68 68 67 64% 63 65 57 50 49% 40 41 34 Before course After course Before course After course Before course After course 49% 49% On average, girls saw a 49% increase in preparedness to engage in the seven entrepreneurial activities measured. 30% 30% On average, boys saw a 30% increase in preparedness to engage in the seven entrepreneurial activities measured. After taking Venture, girls and boys reached comparable levels of preparedness in entrepreneurial skills. 14

2017-2018 School Year Next Steps Katie Philippi Events Questions 15