WELCOME KIT FOR EVERFI PARTNERS

Transcription

1 WELCOME KIT FOR EVERFI PARTNERS Tips for maximizing adoption of your financial literacy program in schools and tools for generating buzz in your community

2 TABLE OF CONTENTS GETTING STARTED... 3 SCHOOL OUTREACH... 4 INCENTIVES FOR MAXIMIZING PROGRAM ADOPTION IN SCHOOLS... 5 CERTIFICATION CEREMONIES... 6 APPENDICES FREQUENTLY ASKED QUESTIONS... 9 TEMPLATE INTRO LETTER TO SUPERINTENDENTS/PRINCIPALS TEMPLATE PRESS RELEASE TEMPLATE INTRO LETTER TO TEACHERS TEMPLATE RENEWAL LETTER FOR SUPERINTENDENTS PROGRAM TALKING POINTS CERTIFICATION EVENT TEMPLATES EVERFI: COURSE CONTENT BY MODULE VAULT: COURSE CONTENT BY MODULE FINANCIAL LITERACY JEOPARDY

3 GETTING STARTED Through the EverFi program, you will be empowering hundreds (or even thousands) of students with financial literacy, and this community reinvestment presents many potential branding, media, and customer acquisition opportunities. The following guidelines are designed to help you maximize visibility for your efforts and produce high program adoption rate. As always, our team is here to assist you through every step of the process. WEB PORTAL CUSTOMIZATION NAMING YOUR PROGRAM - A UNIQUE BRANDING OPPORTUNITY Sponsors can customize the course interface with your company logo and a unique program name, which will appear on the header of your portal. Please be aware of brand standards that may already be established for how your company name can be used. You may want to consult your marketing department. Sample names: {Company Name} Financial Literacy Program {Company Name} Financial Scholars Program {Company Name} My Financial Future Program ADDING YOUR COMPANY LOGO Your company logo will appear on the top banner of the web portal in one of three orientations: Maximum height: 200px Maximum width: 400px Size limit: 200 KB File format: PNG (GIF or JPG also accepted). Please also send an.eps format for us to store on file. Logos bigger than either dimension are resized to fit within those constraints, maintaining the original aspect ratio. Please send both the logo and your program name to your Account Manager as soon as possible, so that we can begin building your custom portal. 3

4 SCHOOL OUTREACH WHAT TO EXPECT The key to maximizing the impact of your program is building strong relationships with the teachers, administration, and students of the schools in your footprint. EverFi will work with your organization to introduce the program to district officials and teachers. We will then train teachers and help schools decide where to place the program in their existing curriculum. This process typically takes a minimum of six to ten weeks, and experience has shown that the best way to expedite this process is to have local representatives from your organization make the first introductions. You may already have great relationships with local school districts, and even if you don t it s a great way to start solidifying that relationship. PHASE 1: INITIAL OUTREACH EverFi has created templates to facilitate outreach to local schools and highlight your commitment to educating the community about personal financial management. The templates can be customized with your company s logo and contact information. Once you have secured a meeting with the District (Superintendent, Curriculum Director, and/or Principal) EverFi will attend that meeting (in person or virtually) to walk them through the platform. We find that a phone call or school drop-by are the most effective way to get an initial meeting set up with the district/school and EverFi Schools Manager. Documents for initial outreach, located in the Appendix, include: Prospective Schools FAQ Document Template Introduction Letter to a Superintendent/Principal PHASE 2: OUTREACH ONCE A SCHOOL HAS STARTED Your EverFi Schools Manager will notify you when a school has begun using your program. At that time you can send a letter to the teacher expressing your excitement and interest in additional class involvement (e.g. speaking to students on selected topic, recognizing certified students in a certification ceremony, etc.). A template letter can be found in the appendix. We have also included a Financial Literacy Jeopardy game that you can tailor and utilize in the classroom. PHASE 3: END OF SCHOOL YEAR The end of the school year is a great time to call or send a note thanking the principal and teachers for their participation and expressing excitement for continuing to work together next year. At the discretion of the school, many of our sponsors are involved in the school s end-of-year awards ceremony recognizing students for their significant achievement of earning EverFi certification. These are valuable opportunities for you and your team to shine light on your commitment to the school/community in front of an audience of teachers, parents, students, and staff. This celebration can be as simple as a pizza party with one class or can be a broader celebration with all the certified students in a school. 4

5 INCENTIVES FOR MAXIMIZING PROGRAM ADOPTION IN SCHOOLS To help spur high adoption rates for your program, we recommend different incentives to help encourage schools to increase usage and roll out the program to a broader range of students. Higher completion rates typically yield more robust data and provide for press and marketing opportunities. Below are some ideas for maximizing adoption of the EverFi program. SCHOOL TECHNOLOGY GRANTS Host a competition among the schools in your footprint, and reward the school with the highest percentage of students who complete the EverFi program by providing a $1000 technology grant. This grant can be applied to the purchase of a computer, ipad, projector, or other classroom technology. TEACHER AWARDS Offer monetary awards to teachers who are able to get all of their students through the EverFi program before a certain date. Set a deadline that is memorable, such as a holiday (Thanksgiving, etc.) or school vacation (spring break), so that teachers keep this goal in mind. Monetary awards could entail a $50 or $100 gift card or check. You can also send letters to school principals acknowledging the teachers who were able to motivate all students to complete the program. STUDENT SCHOLARSHIPS Create an annual Scholarship Program for students who are interested in studying business, finance, or economics in college, and require that applicants complete the EverFi program in order to be eligible for the scholarship. Scholarship levels could range from $250 to $1000, or more. Students should submit an essay describing what inspired them to want to pursue a course of study. Applicants should also be able to show outstanding academic achievement and/or demonstrated leadership among their peers. SUMMER INTERNSHIPS Create a high school internship program at your company, and require student applicants to complete the EverFi program in order to be eligible for the internship. In addition to completing EverFi, students should submit an essaying explaining why they are interested in this internship, and how they plan to apply what they learned to a future course of study or occupation. STUDENT SAVINGS ACCOUNTS Provide every student who completes the EverFi program with a $25 savingsaccount credit (or checking-account credit) at your company. Include a note reminding students of the lessons they learned in EverFi about the importance of saving! 5

6 CERTIFICATION CEREMONIES Certification ceremonies have proven to be an incredibly valuable event that a sponsor can host at the school(s) you are sponsoring. These events can potentially draw media attention and you may even be able to arrange for a local legislator or city official to come and speak alongside your company representative. Often, students and teachers will also speak about their experience with the program and how it has impacted them. From there, certified students will be awarded certificates branded with your company s logo. Included in the Appendices of this kit is a certificate template that you can customize for your financial literacy program. The teacher can provide you with the list of student names so you can customize the certificates. Some companies also opt to bring a banner or other collateral for additional brand visibility at this special event. Who Should Attend? Certification ceremonies typically include the following attendees: Representative from Sponsor Company School Principal Teachers Students Local Press (optional) What Materials Should We Prepare? For in-class certification ceremonies, plan to talk about financial literacy and have certificates for all students you will be recognizing. A certificate template is enclosed. You could also play Financial Literacy Jeopardy or compete against students in the EverFi Life Game during certification ceremonies and in-class visits. The EverFi team is happy to brainstorm other ideas with you, but feel free to make these events your own! Food/refreshments and branded goodies are optional but always a big hit with the school. For larger media events, you may use the templates (invitation press release) included in the Appendix. What Is the Typical Event Format? While every event is unique, most events include a combination of the following: 1. Welcome from a school official (District representative, Principal, and/or Teacher) 2. Greetings from the sponsor (on the company s dedication to students & financial literacy) 3. Remarks from a student (on how the EverFi program has impacted him/her) 4. Presentation of special distinctions (top scoring students, etc.) 5. Awarding of certificates 6. Light Refreshments 6

7 CERTIFICATION CEREMONY CHECKLIST ONE MONTH BEFORE YOUR EVENT (OR MORE) ü Schedule a Date: Contact your sponsor school to secure a date, time, and location for your event. We recommend scheduling the event during school hours since it will ensure a better turn out from the students versus doing it during after school hours. ü Send the Invitation: all guests with the date, time and location. You may use our customizable Invitation Template by adding your company s logo and event details, and send it to the school for distribution to students and parents. You may also opt for a more simple . ü Finalize the Program of Events: Coordinate with your school contact on the order of speakers, and the focus of each speaker s remarks. Decide if you will be serving refreshments after the event. ü Prepare Award Certificates: Customize the Award Certificate Template with your school logo and signature from your Company President (signature field is optional). Send the completed template to your school contact to be populated with the names of each student. ONE WEEK BEFORE YOUR EVENT ü Alert the press: Customize the Press Release Template with your event details, company description, and a quote from your company. You may also want to provide a quote from a teacher. Coordinate with your PR or Communications department to send this press release to local media outlets and invite them to attend the ceremony. ü Prepare Your Talking Points: Your remarks should underscore the importance of having financial literacy skills in today s complicated financial world (creating more productive citizens, improving the wellbeing of the community, etc). Need help with your remarks? See Appendix (page 15) or view these examples from Certification Ceremonies in South Carolina ( and Iowa ( ü Check In with Other Speakers: Review the major talking points of each speaker to ensure that there is no overlap/redundancy in each person s remarks. Also be sure to reconfirm the time and location of the ceremony. Plan to meet 30 minutes prior to the start of the event. ü Assemble all materials/signage: With parents and local media attending the ceremony, you may want to bring a sign/banner displaying your logo (or other marketing collateral). Also be sure to print copies of the Press Release for media. ONE DAY BEFORE YOUR EVENT ü Order refreshments (optional): If you are bringing refreshments, then be sure to contact the school and arrange to have a table set up for these refreshments. ü Bring a Camera: This event presents great opportunities for photos that can be posted on your company s website or shared via social media. Enjoy the event! 7

8 APPENDICES 8

9 FREQUENTLY ASKED QUESTIONS What type of company is EverFi, Inc.? EverFi is the leading education technology company to teach, assess, and certify students in critical life skills including financial literacy and other essential subjects. The company teams with major corporations and foundations, large and small, to provide the programs at zero cost to local schools. EverFi works with more than 5,000 schools across all 50 states. What is the EverFi Financial Literacy Platform? EverFi is an award-winning online platform that provides an engaging, highly interactive experience for students. The program features the most current new media components including 3-D simulations, messaging tools, engaging animations, high-definition video and adaptive-pathing. The class instructor has access to progress and reporting data and other helpful tools to assist with student tracking and follow-up. How is EverFi different from other financial education programs? As schools face tighter budgets, there is a need for innovative public-private partnerships that enable programs like EverFi to exist in their classrooms without costing schools a single dollar. Companies can highlight their community leadership by supporting this program in their local schools and ensuring that it will be sustained there. EverFi is using online learning to bring financial education to the modern era. What does EverFi Certified mean? Upon successful completion of all modules and their assessment tests, students become certified in personal finance. Many sponsors organize certification ceremonies to recognize students for this achievement. Each student receives a certificate featuring your company s logo. Does the course map to state standards? Yes, we have made a commitment to mapping our course to national and state standards. We make it our priority to regularly update content to ensure the information remains accurate and current. What is the time commitment for teacher training and setup? Teachers love the ease of getting started on EverFi. Teacher training takes anywhere from minutes and students will be able to start that day. Are there tracking and reporting capabilities? Yes. Each instructor account can track the students progress, post-assessment scores, number of times tests are attempted, and their EverFi Life scores. Teachers can track this information on the individual or aggregate level. EverFi will supply the sponsor with ongoing information around key milestones. How long is the course and how does it fit into a school? The EverFi course is 6 hours long; Vault is 3 hours; The course is flexible for teachers, as it can be accessed anywhere with Internet access -- in a lab setting at a school or assigned as homework. What is the EverFi Life Game? EverFi Life is video-game-like simulated environment where students apply what they learned in the course modules. There are three levels of difficulty, and points are awarded to students for smart financial decisionmaking. Each level takes approximately 30 minutes. What kind of technical support does EverFi provide? EverFi provides all technical support and integration into schools. In addition to our 24-hour technical assistance hotline, the EverFi schools team is always accessible to assist teachers with any questions. 9

10 TEMPLATE INTRO LETTER TO SUPERINTENDENTS/PRINCIPALS NAME TITLE SCHOOL NAME ADDRESS CITY, STATE, ZIP DATE Dear Superintendent XXXXXX: I am pleased to inform you that Sponsor Name is proudly sponsoring the Sponsor Name Financial Scholars Program in the elementary/high schools in your district. Through this public-private partnership, we are able to bring the award-winning EverFi Financial Literacy OR Vault Understanding Money technology platform to your schools, and provide your students with access to a cutting-edge curriculum that will enable them to become certified in Financial Literacy. We have made this commitment in your community because of our strong belief that if we can better educate the students of today, then they will become the financially responsible citizens of tomorrow. The EverFi Financial Literacy platform, sponsored by Sponsor Name, is a 10-module, 6-hour program that can be smoothly integrated into the high school curriculum. The platform covers hundreds of topics including credit scores, budgeting, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401k s and other critical concepts. The platform tracks individual student progress and knowledge gain and provides students who successfully complete the course with certification in financial literacy, a powerful tool students can use on college applications and resumes. (or) Vault - Understanding Money is an interactive, new-media learning platform specifically designed to introduce financial literacy skills early in a child s cognitive development. Course topics include saving, budgeting, responsibility and decision-making, credit and debt, careers, income, charity, and more. The course features interactive lessons, games, and story-based activities that challenge kids to make choices in real-life scenarios to best achieve important goals around saving and job planning. The 2.5-hour curriculum aligns with both state and national standards. Our partnership goal this year is to provide as many students as possible with access to this financial literacy platform before they graduate. With that aim in mind, we hope that you will consider helping us expand the usage of this new media technology program into your high schools, and perhaps even require certification for graduation. My team at Sponsor Name, along with the EverFi team, looks forward to working with you to best leverage this partnership and prepare for a successful school year. Best Regards, Name Position (Sponsor executive) 10

11 TEMPLATE PRESS RELEASE PROSPERITY BANK EMPOWERS HIGH SCHOOL STUDENTS TO MAKE INFORMED FINANCIAL DECISIONS THROUGH INNOVATIVE WEB-BASED PROGRAM DATE, CITY, STATE Prosperity Bank today announced a new initiative to bring financial literacy education to high school students across Community/State by providing them with access to the EverFi TM Financial Literacy/ Vault Understanding Money learning platform. This web-based program uses the latest in new media technology simulations, avatars, gaming and adaptive-pathing to bring complex financial concepts to life for today s digital generation. Through this platform, students will become certified in hundreds of topics in personal finance, allowing them to become more informed, responsible citizens. Sponsor Name has partnered with EverFi, Inc. to bring the interactive financial management program to these high/elementary school students at no cost to the school(s). (Insert quote from sponsor executive about importance of financial education): As we face the worst economic crisis in generations, it is more important than ever to arm young people with the skills to navigate an increasingly complex financial system, said X. We are excited to offer students an innovative educational experience that uses the tools they love digital learning and gaming to teach this important topic. (May also choose to insert a quote from a teacher or school administrator about the program.) (EverFi) The 10-unit course offers approximately six hours of programming aimed at teaching, assessing and certifying students in a variety of relevant financial topics including credit scores, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401k s and other critical concepts that map to national financial literacy standards. The platform uniquely tracks the progress and score of every student and provides students who successfully complete the course with Certification in Financial Literacy, a valuable mark of distinction on college applications and resumes. (or) (Vault) Vault - Understanding Money is an interactive, new-media learning platform specifically designed to introduce financial literacy skills early in a child s cognitive development. Course topics include saving, budgeting, responsibility and decision-making, credit and debt, careers, income, charity, and more. The course features interactive lessons, games, and story-based activities that challenge kids to make choices in real-life scenarios to best achieve important goals around saving and job planning. The 2.5-hour curriculum aligns with both state and national standards. From the small rural towns to major cities across the US, EverFi technology is literally transforming how students learn, and we are incredibly grateful for the public-private partnerships that make this possible, said EverFi CEO Tom Davidson. Sponsor Name is critical to the success of our mission to ensure that these cutting-edge tools reach all communities. About Sponsor Name (Insert Bio Piece) About EverFi EverFi, Inc. is the leading education technology company focused on teaching, assessing, and certifying K-12 and college students in the critical skills they need for life. The company teams with major corporations and foundations to provide the programs at no cost to K-12 schools. Some of America s leading CEOs and venture capital firms are EverFi investors including Amazon founder and CEO Jeff Bezos, Twitter founder Evan Williams, Rethink Education, New Enterprise Associates, Inc. (NEA), and Tomorrow Ventures (the investment arm of Google Chairman Eric Schmidt). Learn more at 11

12 TEMPLATE INTRO LETTER TO TEACHERS NAME TITLE SCHOOL NAME ADDRESS CITY, STATE, ZIP DATE Dear [Teacher Name], I wanted to take a moment to introduce myself and let you know how thrilled Prosperity Bank is to be sponsoring the Prosperity Bank Financial Scholars Program at School Name. Through this public-private partnership, we are able to provide students with access to a cutting-edge curriculum that will enable them to become certified in hundreds of topics in financial literacy. We have made this commitment in the community because of our strong belief that if we can better educate the students of today, then they will become the financially responsible citizens of tomorrow. I thank you for being a critical part of the success of this initiative by building the EverFi platform into your curriculum and helping students complete the program. Prosperity Bank is eager to meet your students and see the program in action, but our level of involvement is entirely up to you. We would be more than happy to come and speak to your class about key financial topics of your choosing. In addition, we would love to host a Certification Ceremony at your school once students have completed the program. Please feel free to contact me for any reason at [phone number] or by , [ address]. I look forward to working with you in the coming months and beyond, and I thank you for your daily commitment to the students in our community. Best Regards, Name Position (Sponsor executive) 12

13 TEMPLATE RENEWAL LETTER FOR SUPERINTENDENTS (Date) Dear Superintendent XXXXXX: As you know, last school year SPONSOR NAME proudly sponsored SPONSOR NAME Financial Scholars Program in the elementary/high schools in your district. Through this public-private partnership we were able to bring the award-winning EverFi Financial Literacy/ Vault Understanding Money to your schools and enable over X of your students to have access to this cutting-edge curriculum with many becoming certified in financial literacy. I am pleased to share that SPONSOR NAME has decided to once again underwrite the cost of providing the SPONSOR NAME Financial Scholars Program in your district for the upcoming school year. We have made this commitment in your community because of our strong belief that if we can better educate the students of today, they will become the financially responsible citizens of tomorrow. (EverFi description) The EverFi Platform sponsored by SPONSOR NAME is a 10 module, 6-hour program that you have begun to integrate into the high school curriculum. The platform covers over 600 topics including credit scores, budgeting, insurance, credit cards, student loans, mortgages, taxes, stocks, savings, 401k s and other critical concepts. The platform tracks individual student progress and knowledge gain and provides students who successfully complete the course with a Certification in Financial Literacy that can be a powerful tool for job applications, college search and internships. (or) (Vault description) The EverFi Platform sponsored by SPONSOR NAME is an interactive, new-media learning platform specifically designed to introduce financial literacy skills early in a child s cognitive development. Course topics include saving, budgeting, responsibility and decision-making, credit and debt, careers, income, charity, and more. The course features interactive lessons, games, and story-based activities that challenge kids to make choices in real-life scenarios to best achieve important goals around saving and job planning. The 2.5-hour curriculum aligns with both state and national standards. Our partnership goal remains the same this year to give as many students as possible access to this financial literacy platform before they graduate. With that aim in mind, we hope that you will consider expanding the usage of this new media technology program in your high schools, and perhaps even require certification for graduation. My team at SPONSOR NAME, along with the EverFi team, looks forward to working with you to best leverage this partnership and prepare for another successful school year. Best Regards, Name Regional Company President 13

14 Event Documents CERTIFICATES High School Certificate: Elementary School Certificate: PRESS RELEASE Media Advisory: Press Release: TALKING POINTS Talking Points.docx INVITATION RUN OF SHOW (if there are multiple speakers, this helps define the order) IN-CLASS ACTIVITIES High School Jeopardy Game: Elementary School Jeopardy Game: High School Instructions: Elementary School Instructions: 14

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16 EVERFI: COURSE CONTENT BY MODULE Module #1: Overview In this module, students are introduced to the expert narrators who speak directly to the students throughout the entire course. The students are also given an interactive tutorial on how to maximize their experience on the portal. In addition to serving as a launching pad for the courses and simulation, the portal serves as an ongoing resource and support tool to keep learners engaged and provide additional learning opportunities. Module #2: Savings In this module, students learn the important habits of savings and budgeting. They learn how interest fuels savings accumulation and what vehicles can augment this process for individuals. Topics covered include interest, compound interest, The Rule of 72, principal, capital, budgeting and managing expenditures to creating a savings plan, and types of savings vehicles. Students learn to create a monthly budget for expenses like insurance, student loans, utilities, transportation, credit card payments, rent, food, and entertainment. They participate in an interactive budgeting game in which they must first place various purchase receipts and bills into categories. Then they must make tough choices to reduce their monthly expenditures by $500. In this exercise, a major component focuses on food, eating out, packing a lunch, and other life-skills. Additionally, they learn the specifics of interest and compound interest by calculating compound interest earned on principal and the number of years it would take to save for a car. Topics Covered: Interest Compound interest The Rule of 72 Budgeting and managing expenditures to creating a saving plan Principal Capital Types of savings vehicle Creating a monthly budget for expenses like insurance, student loans, utilities, transportation, credit card payments, rent, food, and entertainment Module #3: Banking In this module, students learn about the banking system, retail banks, credit unions, and commercial banks. Students examine typical account types (i.e. checking, savings) and their features. Students will learn how to complete a check, use online banking resources, and monitor account balance activity. Topics covered include an overview of the Federal Reserve banking system, payday lenders, and FDIC Insurance. Students develop a practical understanding of how different account features like protection plans for overdraft or minimum balance requirements can benefit or potentially harm financial condition differently given their income, goals, and previous savings. Topics Covered: Complete a check Use online banking resources Monitor account balance activity Develop a practical understanding of how different account features (i.e. protection plans for overdraft, minimum balance requirements) can benefit or detriment people Module #4: Payment Types, Interest Rates, and Credit Cards 16

17 In this module, students learn about payment types, credit card interest rates, installment credit definitions, selecting and using credit activity, making credit card payments, and getting out of debt. They will understand features like APR, annual fees, credit limits, and rewards for signing up for a new card. Topics covered include cash advances, payday loans, debit cards, merchant cards, Annual Percentage Rates on credit cards, credit limits, annual fees on credit cards, grace periods, minimum payments, and other fee structures associated with credit cards. Students will calculate a return on an initial investment with different interest rates and compounding frequencies. Students will be familiar with how minimum payments work, and how to calculate the time necessary to pay off credit card debt using only the minimum payment. Students have an interactive look at selecting a credit card as they explore a 3D rendered environment that displays various credit card features. Topics Covered: Cash advances Payday loans Debit cards Merchant cards Annual Percentage Rates on credit cards Credit limit Annual fees on credit cards Grace periods Minimum payments Other fee structures associated with credit cards Calculating a return on an initial investment with different interest rates and compounding frequencies Module #5: Credit Scores Students learn about the importance of a credit score and how to take control of it. Students will understand what a credit score is, how it is calculated, and what the implications of good or bad credit are. They participate in activities that focus on the financial decisions most detrimental to a credit score and highlight how easily one s credit can be ruined. The module also includes: agencies that calculate credit scores, what impacts credit scores and how to manage a credit score, FICO, the major credit bureaus, credit checks, and purchases typically requiring good credit. Topics Covered: What a credit score is and how it is calculated Implications of good or bad credit Financial decisions most detrimental to a credit score How easily one s credit can be ruined Who calculates credit scores What impacts credit scores How to manage a credit score FICO Major credit bureaus Credit checks Purchases typically requiring good credit Module #6: Financing Higher Education Upon completion of this module, students will have developed a strong understanding of the steps involved in the student loan process. From the initial stages of filling out a FAFSA to understanding repayment obligations for loans they ve already taken out, students will cover topics including scholarships, grants, different loan types, good debt vs. bad debt, depreciation vs. appreciation, cost of school attendance, Master Promissory Note, loan payback schedules and returns on investments (including future returns on 17

18 appreciating assets and an education). To further reinforce these topics, students will assume the role of a financial advisor to provide advice to their fellow classmates. Topics Covered: Initial stages of filling out a FAFSA Understanding repayment obligations for loans they ve already taken out Scholarships, grants, different loan types Good debt vs. bad debt Depreciation vs. appreciation Cost of school attendance Master Promissory Note Loan payback schedules and returns on investments (including future returns on appreciating assets and an education) Module #7: Renting vs. Owning Through this module, students will utilize a cost benefit analyses framework in order to evaluate whether to buy, lease or rent a home or vehicle. The module covers mortgages, appreciation, depreciation, tax incentives, lease terms, fixed and adjustable rate mortgages, balloon payments, liens and foreclosures. Students will be asked to think strategically by using their problem-solving skills to provide solutions to complex, real-life, renting vs. owning scenarios. Topics Covered: Mortgages Appreciation Depreciation Tax incentives Lease terms Fixed and adjustable rate mortgages Balloon payments Liens and foreclosures Module #8: Insurances and Taxes This module will cover topics including sales tax, income tax brackets, property taxes, capital gains taxes, and tax forms (1040, W4, & W2) to convey the importance of these obligations. Students will assume the role of a tax consultant and complete an individual tax return in order to calculate the taxes owed for a client. Furthermore, students will run a scenario analysis to highlight the relationships between salary, federal tax withholdings, and net pay. The module will review the most relevant types of insurance (health, homeowners, renter s, and auto) and their benefits. Students will evaluate multiple health insurance policies and calculate the costs associated with each (incorporating the policy s term policy, deductible and premium) in order to recommend an optimal policy. Topics Covered: Sales tax Income tax brackets Property taxes Capital gains taxes, and tax forms (1040, W4, & W2) Health, homeowners, renter s, and auto insurance and their benefits Calculate the costs associated with multiple health insurance policies Module #9: Consumer Fraud This module focuses on the protection of personal financial information and includes an overview of identity theft and how to prevent it. Students look at the impact identity theft can have on a person s life as well as 18

19 other consumer fraud protection laws (the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, and the Truth in Lending Act). Upon completion of this module, students will be able to prevent common consumer fraud practices (including phishing scams, credit card and banking fraud, and phone and utility theft). In addition, students will develop best practices (including checking credit reports once a year) to spot identity theft. Topics Covered: Consumer fraud protection laws (the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, and the Truth in Lending Act) Preventing common consumer fraud practices (including phishing scams, credit card and banking fraud, and phone and utility theft) Develop best practices (including checking credit card report once a year) to spot identity theft Module #10: Investing This module brings students to the floor of the major Stock Exchanges. Students will cover topics including stocks, bonds, mutual funds, risk and reward dynamics, rates of return, shareholders, dividends, and coupons. Students will become proficient in allocating the risk and return of stocks, bonds, mutual funds, and savings accounts to create an optimal investment portfolio. Also, students will familiarize themselves with reading a stock quote and understanding how to evaluate a company based on its price, market capitalization, dividend yield, earnings-per-share and price-to-earnings ratio. Students will become proficient in a basic understanding of how certain securities are traded. Topics Covered: Stocks Bonds Mutual funds Risk and reward dynamics Rate of return Shareholders Dividends Coupons Allocating the risk and return of stocks, bonds, mutual funds, and savings accounts to create an optimal investment portfolio Reading a stock quote Evaluating a company based on its price, market capitalization, dividend yield, earnings-per-share and price-to-earnings ratio 19

20 VAULT: COURSE CONTENT BY MODULE The Vault curriculum is comprised of six concept groups that map to the Jump$tart National Standards in K-12 Personal Finance Education. Each concept groups contains between two and five brief activities and two games that are unlocked by users upon completing activities. An overview of each of the six concepts groups is included below. Learning Objectives Vault TM also equips students to meet a set of learning objectives derived from the Jump$tart Standards. Specifically, after completing the program students will: Demonstrate financial responsibility by making well-informed financial decisions Identify ways to make money now and in the future Identify career possibilities to pursue based on income and area of interest Demonstrate responsible saving and spending Understand the value of sticking to a budget Demonstrate an understanding of credit history and its importance Recognize the value of saving and investing Prioritize needs and wants and understanding how doing so helps determine path for the future Demonstrate an understanding of financial risk and the need for insurance Recognize the value of giving to charity Concept Groups 1. Responsible Money Choices: This concept group introduces users to the concept of financial responsibility and offers tips and strategies for acquiring financial information and making responsible financial decisions. Activities: Good and Bad Decisions with Money Understanding Money Making Your Own Money Decisions Understanding Others Details: An overview of the difference between good and bad financial decisions and the benefits of making responsible choices around saving vs. spending. An overview of different financial sources (e.g., banks, family, etc) that people can use to make good financial decisions. Tips and strategies for making good financial decisions, including identifying wants vs. needs and creating a savings plan to meet longand short-term goals. A discussion of the value of going to family or other adults for financial information and learning from their past experiences. Controlling Personal Information A discussion of what personal information can be disclosed and what would be considered a safe vs. unsafe circumstances to disclose personal information. 20

21 Game 1: The Cell Phone Blues Game 2: The Protector Time Estimate: A branching simulation in which users are tasked with helping a character make responsible choices in order to save money for a purchase. An interactive game in which users act as a Protector and decide what information, if any, other characters can disclose in various circumstances. 35 min. 2. Income and Careers: This concept groups provides an overview of how people acquire income, build careers, and responsibly pay taxes to the government. Activities: Details: Your Career A discussion of career options, how people choose a career based on their individual interests, knowledge, and abilities, and how people can work towards a career over time. Making Money An overview of how people work to make money by earning wages or salaries and how kids can earn money to reach their own financial goals. Taxes A high level description of taxes, including an overview of what they are, why people pay taxes, and how they are used. Game 1: Career Blaster An interactive game in which users help various characters find jobs based on their talents and interests. Game 2: Baffle Baffle In a quiz show fashion, users challenge opponents to answer a series of questions pertaining to key learning concepts from the modules. Time Estimate: 30 min. 3. Making Plans with Money: This concept group discusses several important methods and strategies for managing money, including creating a balanced budget, choosing the best payment method, making responsible purchasing decisions, and giving to charity. Activities: Spending and Saving Details: An introduction to the concept of creating a balanced budget in the context of budgeting household expenses as needs or wants. Paying for Things An overview of how and why people store their money in banks, the types of accounts people have with financial institutions, and the various ways people pay for things (e.g., checks, debit cards, credit cards, etc). Spending Tips and strategies for avoiding impulse buying and for making smart Responsibly purchasing decisions (e.g., not giving into peer pressure, etc) Giving to Charity A discussion of the value of giving to charity and the various ways kids can get involved in charitable activities. Things with Value An introduction to the concept of household and inherited assets and the financial value they provide to families. Game 1: The Decider An interactive game in which users help a number of characters organize their budgets into wants and needs. Game 2: The Great Budget A branching simulation in which users are tasked with helping a character make good budgeting choices. Time Estimate: 25 min. 21

22 4. Credit and Borrowing: This concept group provides an overview of credit and why it s important to borrow money responsibly. Activities: Details: Credit A discussion of the differences between buying with cash and buying with credit. Responsible A discussion of why using credit is a form of borrowing, why financial Borrowing institutions lend money, and what it means to be a responsible and reliable borrower. Game 1: Avoid the Trap In a quiz show fashion, users challenge opponents to answer a series of questions pertaining to key learning concepts from the modules. Game 2: The Reliability A branching simulation in which users are tasked with helping a Two-Step character make choices to repay a loan and build good character. Time Estimate: 20 min. 5. Insurance and Safety: This concept group offers strategies for managing personal and household risks and discusses the uses and benefits of health insurance. Activities: Details: Controlling Risks An overview of personal and household risks and strategies for preventing and managing risks. Health Insurance A discussion of the uses and benefits of health insurance. Game 1: Risk Rewarder Game 2: Clean Sweep Time Estimate: An interactive game in which users identify and remove risks from various environments. An interactive game in which users identify safe risks in various environments. 12 min. 6. Savings and Investing: This concept group discusses the various ways that people can save and invest their money. Activities: Details: Savings A discussion of the various ways that people can save their money (e.g., open a savings account) and use budgets to control spending and saving. Investing An introduction to basic investments, including stocks, bonds, and mutual funds, and ways to invest with financial institutions. Game 1: Cut the Cost Game 2: Investor Challenge Time Estimate: An interactive game in which users help a variety of characters cut their expenses in order to save for their long-term goals. In a quiz show fashion, users challenge opponents to answer a series of questions pertaining to key learning concepts from the modules. 25 min. 22

23 FINANCIAL LITERACY JEOPARDY (You may also wish to call this a Financial Knowledge Bowl ) GAME RULES Rules/Directions Break students into four or five groups. Project Jeopardy categories on the board and have groups take turns selecting questions. You must click on the point total in order to display the question on the screen. Click the blue arrow to return to the main screen. Keep track of the questions answered on the answer sheet below. If there is not a projector you can just select questions yourself. Have each group answer each question by writing down their answer. This will keep all groups engaged rather than having them take turns answering. After each question, walk around the room to see which group answered correctly. Then award groups their points. You can keep track of points on the board. Feel free to reword the questions and remove the multiple-choice format to make questions more difficult. Saving and Investing Question 1. Compound interest is A. the amount earned or owed on principal amount B. when interest is added to the principal amount so that the interest earns interest [correct] A. multiple late fees 2. Examples of savings vehicles include A. simple savings accounts and CDs [correct] B. credit reports and stocks C. simple savings accounts, and car loans 3. What do IRAs, Roth IRAs, 401(k)s and 401(b) s all have in common? A. All are combination codes on bank vaults B. All are long-term savings plans for retirement [correct] C. All are checking accounts that you sign up for at a local bank 4. What is a mutual fund? A. A loan an investor makes to a company or government that pays interest over time. B. A share of ownership in a local government. 23

24 C. A collection of investments sold as a package. [correct] 5. Diversification is important in investing because A. It helps you to balance your risk across different types of investments. [correct] B. It increases your overall risk, which could make you more money. C. It ensures that you only make low-risk investments. Banking and Consumer Fraud Question 1. The U.S. banking system, called the Federal Reserve, includes the Reserve Banks, the Federal Open Market Committee, and. A. The Board of Governors [correct] B. Congress C. The U.S. Mint 2. What type of bank account offers the most flexible access to your money with the fewest restrictions? A. Certificate of Deposits B. Savings C. Checking [correct] 3. The numbers listed at the bottom of a check are the number and the number. A. Routing, account [correct] B. Check, pin C. Routing, legal tender 4. What U.S. government agency protects consumers against false advertising and unfair business practices? A. Federal Trade Commission [correct] B. Central Intelligence Agency C. Department of Homeland Security 5. What type of bank is run by its members? a. Automated Teller Machine b. Credit Union [correct] c. Commercial Bank Credit Cards and Credit Score 24

25 Question 1. Credit card minimum payments are usually around of the total balance. A % B. 2-3% [correct] C % 2. The annual percentage rate on a credit card determines. A. The amount of interest you are charged on credit card purchases [correct] B. The amount your credit limit can go up within a year C. How many credit cards that you can own 3. How many free credit reports are you legally entitled to per year from each credit bureau? A. One credit report from each credit bureau [correct] B. Two credit reports from each credit bureau C. Unlimited amount 4. What is the numerical range for credit scores from the three major reporting agencies? A. From one to ten B. From 500 to 1,000 C. From 300 to 850 [correct] 5. What are the two biggest influences on your credit score? A. Your SAT score and your grade point average B. The number of credit cards and number of bank accounts you have C. Payment history and amount of debt [correct] Financing Higher Education Question 1. Which of the following is likely to have the lowest interest rate? A. Payday Loan B. Perkins Loan [correct] C. Private Loan 2. The application for federal student financial aid is called A. National Borrowing and Loan Packet B. American Lending Document 25

26 C. Free Application for Federal Student Aid [correct] 3. When referring to student loans, what is a grace period? a. The time period that your library late fees affect your credit score b. The time period after graduating high school and before starting college c. The period after graduating or leaving school before you much begin paying back student loans 4. Which of the following does not have to be paid back? A. Federal Stafford Loan B. Federal Pell Grant [correct] C. Federal Perkins Loan 5. One of the effects of consolidating your student loans is a. It ends any grace period that might still apply to the loan [correct] b. It increases the amount of money you ll owe each month c. It decreases the amount of money you ll owe overall Taxes, Insurance, and Buying a Home Question 1. Insurance allows you to transfer your financial onto someone else a. Stocks b. Debt c. Risk [correct] 2. What is a mortgage? A. A type of rent used to pay for housing B. A type of loan used to buy property [correct] C. A type of financial statistic 3. What is a down payment? A. A large sum of money you pay towards a property upfront. [correct] B. A payment that depreciates C. A payment that gains value over time according to an economic index 4. Which of the following is NOT a federal tax form? A. W-4 B. B-52 [correct] 26

27 C Which of the following tax type does NOT require you to complete forms to determine the amount you owe or are owed at the end of the year? A. Sales [correct] B. Federal Income C. State Income Want to display these questions on a screen? Download the template on Page