Last week, Nasdaq and EverFi honored 25 of our financial services partners with an Innovation in Financial Education Award for their significant efforts to improve the financial capability of young Americans. The ceremony took place at Nasdaq’s MarketSite headquarters in Times Square.
Honorees were selected based on a set of criteria that included the scale and reach of their financial education initiatives, the duration of their commitment, and unique employee volunteering activities that supplement their programs.
“The institutions being recognized have led exceptional efforts to rethink how financial education is taught in our nation’s schools,” said EverFi Founder and CEO Tom Davidson. “Our global competitiveness is dependent on the next generation understanding how the economy works and how to achieve financial security in their lives. We are grateful to the organizations that are helping pave a brighter future for students today.”
Perhaps the highlight of the event was a panel discussion on youth financial empowerment featuring four students from the Young Women’s Leadership School of East Harlem. These remarkable women spoke about the biggest financial challenges facing students today, and how a solid financial education has helped put them on a path to success:
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. Data collected from more than 94,000 students who completed the EverFi curriculum showed that only a quarter of high school students reported understanding how credit scores work prior to taking the course, however that number jumped to 62% after students completed the online curriculum.
As we close out Financial Literacy Month, we’d like to recognize ALL of our partners for their collective efforts to empower the next generation with critical money management skills.