Sallie Mae and EVERFI, an international social-impact education innovator, today announced a new strategic partnership to deliver a specialized financial literacy curriculum to California high schools.
Sallie Mae’s Knowledge for College program is an interactive, unbiased, online course that will be made available to juniors and seniors throughout California at no cost to the students, schools, or taxpayers. The program will be delivered to students learning in a classroom or virtually, and is designed to reach them early in the college consideration process to increase knowledge on college access and how to effectively finance higher education.
The program includes five interactive modules to help students develop actionable strategies for responsibly financing their post-secondary education, as well as managing their finances for life. The curriculum covers everything from introductory topics like saving and budgeting to advanced topics like financial aid, student loans, and repaying loans responsibly.
“Financial literacy provides students with a strong foundation of knowledge and confidence in making informed decisions about the future,” said Jen O’Donald, senior vice president, Sallie Mae. “That future includes planning and paying for higher education, which is one of the first major financial decisions for many students and families. We want families to make these decisions with eyes wide open and that means providing critical education and information early in the process through programs like Knowledge for College.”
The launch of Sallie Mae and EVERFI’s financial literacy curriculum is especially timely given recent research from Sallie Mae and Ipsos that found roughly eight in 10 families reported planning to pay for college is challenging. What’s more, while families overall feel that having a plan to pay for school is more likely to influence a child’s pursuit of higher education, less than half have a plan and only 51% of students have researched financial aid. Additionally, the majority of high school seniors delay completing the Free Application for Federal Student Aid (FAFSA) – potentially missing out on thousands of dollars in first-come, first-served aid – and nearly a third skipped the FAFSA altogether.
“Students and families continue to value higher education but there’s still a certain level of anxiety and angst about how to pay for it,” said Ray Martinez, co-founder and president, EVERFI. “Which is why it is crucial that we provide these students with necessary tools to become confident in their ability to make smart financial decisions well into adulthood. Ensuring students and their families fully understand not only the process by which to apply for student financial aid, but also the responsibilities it carries is of the utmost importance and will help set them up for financial success.”
Sallie Mae and EVERFI are launching the course in California as it is one of a few states that does not require high school students to take a personal finance course prior to graduation. The curriculum aligns with state, national, and Jump$tart Coalition financial literacy standards. To learn more about Sallie Mae’s Knowledge for College program visit https://knowledgeforcollege.everfi.com/.
EVERFI, Inc. is an international technology company driving social change through education to address the most challenging issues affecting society ranging from financial wellness to prescription drug safety to workplace conduct and other critical topics. Founded in 2008, EVERFI is fueled by its Software-as-a-Service (SaaS) community engagement platform and has reached more than 41 million learners globally. Recognized as one of the World’s Most Innovative Companies by Fast Company in 2020, EVERFI powers community engagement in a sustained manner to empower individuals and organizations to make an impact within their communities. The Company also convenes Networks to bring together financial institutions, colleges and universities, and some of the largest corporations to leverage insights and connections to drive impact. Some of America’s leading CEOs and venture capital firms are EVERFI investors including Amazon founder and CEO Jeff Bezos, Google Chairman Eric Schmidt, Twitter founder Evan Williams, as well as Advance, Rethink Education and Rethink Impact. To learn more about EVERFI visit everfi.com or follow us on Facebook, Instagram, LinkedIn, or Twitter @EVERFI.
About Sallie Mae
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to help make college happen and offer products and resources to help customers make new goals and experiences, beyond college, possible. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.