The Commonwealth of Virginia was recently recognized with an “A” rating in the National Report Card on State Efforts to Improve Financial Literacy in High Schools, authored by the Center for Financial Literacy at Champlain College. This exceptional rating is due in part to the incredible education results produced by EverFi’s statewide financial literacy program, made possible through the generous support of the Genworth Foundation, local financial institutions and teachers across the state.
Today, the My Money, My FutureSM program is being used in over 75% of Virginia high schools. The Genworth Foundation became the statewide sponsor of this program in 2010, alongside several local sponsors including Union First Market Bank, Cardinal Bank and other members of the Virginia Bankers Association. Since that time, more than 50,000 students across the Commonwealth have gained access to this web-based resource that has helped them develop a deeper understanding of critical financial literacy topics, such as credit scores, investing, and saving for college. In the 2012-2013 academic year, Virginia saw a 55% increase in the number of students using My Money My Future, with more than 240 active schools, and a 10% increase in the statewide certification rate.
“Since our announcement with Virginia Superintendent Patricia Wright and Lt. Governor Bill Bolling in 2010, the Genworth Foundation and our other financial institution partners have brought EverFi financial education to every corner of the Commonwealth,” said EverFi CEO Tom Davidson. “The ‘A’ rating is a huge testament to the dedicated work of our partners, teachers and students.”
“This recognition is the result of a combination of many factors – the collaborative effort and business partnerships created to provide financial support for the implementation of a graduation requirement that requires each student to earn one credit in Economics and Personal Finance before they graduate; the professional development offered to over 1,300 teachers since 2010; and the plethora of excellent instructional resources, such as EverFi’s My Money, My Future program,” said Judith Sams, Business and Information Technology Program Specialist at the Virginia Department of Education. “These factors, coupled with a group of hard-working, creative, and excited teachers and students, are responsible for the current and continued success of financial literacy instruction in Virginia.”
“Genworth is pleased to support the expansion of technology within the classroom to enhance the financial education that we provide to Virginia students,” said Leon Roday, Chairman of the Genworth Foundation. “It is vital that we help our next generation of citizens join the global economy knowing the fundamentals of personal finance, and we are proud to help Virginia maintain its top rating in the US through innovative public-private partnerships.”
EverFi’s curriculum is developed in alignment with relevant curriculum frameworks at both a national and state level. The company’s high school course maps to financial literacy standards at the state level, the Jump$tart Coalition’s National Standards in K-12 Personal Finance Education, and Common Core standards for Math and English Language Arts (ELA).
Since launching in 2008, EverFi has extended critical skills training to elementary schools, high schools and college and universities across 48 states. Through the development of a third-party investment model, EverFi’s learning courses are available at no cost to K-12 public schools. To date, over 5.8 million students have attained a certification in critical subjects including financial literacy, student loan management, cyberbullying, alcohol abuse prevention and sexual assault awareness.