With numerous natural disasters in the past couple of years in places such as Florida, New Orleans, and more recently with Puerto Rico, it is more important than ever to reinvest in those communities by providing financial education. Financial education can help revitalize both poverty-stricken communities and those struck by disasters.
Financial education is effective because it gives students and adults life skills. According to PolicyLink, when integrated into public programs and the workplace, financial education can help lower-income families improve financial security. Financial security is necessary for economic mobility in poverty-stricken communities. Financial education has the potential to support long and short-term recovery efforts, especially in disaster and poverty-stricken areas.
Education in Puerto Rico
Recently EVERFI partnered the Department of Education in Puerto Rico to bring financial education to Puerto Rico. With more than 46% of families living below poverty, students will learn important skills such as obtaining credit, saving techniques, budgeting, retirement planning, understanding different account types and more in order to equip themselves with a financial toolkit.
Before Hurricane Maria, EVERFI was named the official digital financial education provider for the island of Puerto Rico. When visiting Puerto Rico, Ray Martinez, EVERFI President of Financial Education shared, “Expanding our financial education offerings to Puerto Rico is a personal priority of mine because it is where my family’s story begins as the birthplace of my father,” “In the midst of recovery from Hurricane Maria and financial hardship, [FInancial Education] lays the foundation for empowering every public elementary and high school student with the skills needed for a strong and healthy financial future.”
Even in the wake of the recent humanitarian disaster, schools in and around San Juan displayed amazing resiliency and began to slowly reopen. Just three weeks after the disaster, EVERFI was able to train over 200 teachers, in English and Spanish, at no-cost to the Puerto Rico DOE or the local schools.
There is still a long way to go before Puerto Rico will be able to fully bounce back from Hurricane Maria but financial education can help revitalize this disaster-stricken area.
Committed to Financial Capability
In partnership with financial institutions, EVERFI is committed to improving the financial capability of all Americans, regardless of socioeconomic status or background and reaching communities that need it most.
Financial capability starts in the classroom. Join us in the Financial Capability Network to learn more about how we are helping to bring financial education to the communities that need it most.