San Diego, CA, October 22, 2014 --(PR.com
)-- More than 200 college campuses have upgraded to iGrad’s interactive video-based student loan counseling to fulfill federal requirements for student loan eligibility, officials at the leader in financial literacy education announced today.
“The digital approach -- especially videos -- is a sweeping trend in financial literacy education,” says iGrad Vice President Kris Alban. “The text-based education, which has been the standard for many years, simply can’t produce the higher information retention and success rates our clients are achieving with video. Plus, the digital product is more agile.”
UCLA student Jesse Chen connected immediately with the iGrad videos: “I love how the videos were structured in a question and answer format with interviews of people who have undergone similar situations.”
Students who complete the iGrad system, as opposed to the conventional text-based approach, are twice as likely to understand their financial requirements upon entering college and their commitments upon leaving, studies show.
“The quick, short videos were good. I like that financial aid was discussed in easy language and questions were answered visually,” says Heather Mirasol, a student at UCLA.
Since its launch in 2013, more than 140,000 students have completed the user-friendly and compelling iGrad entrance/exit counseling, which leverages real-life student stories to provide peer guidance.
The student loan entrance and exit counseling is a federal requirement for every borrower, and must be completed before a student can graduate. Until iGrad produced its interactive video courses, the counseling was provided in a text-heavy lesson by a handful of organizations, including the Department of Education.
“More than helping students complete financial literacy requirements, iGrad’s pioneering efforts in interactive video education are dedicated to guiding students about financing their education in the smartest possible ways,” says Alban.
The iGrad loan counseling courses, which meet all federal and university requirements, is personalized for each student and capitalizes on real-world insight from student loan borrowers, including their own candid discussion about poor loan management.
Students who use iGrad’s Video-based Entrance & Exit Counseling
work at their own speed and are tested throughout the courses.
The iGrad counseling also was developed with college administrators in mind, automating many of the current manual reporting elements and giving schools the ability to customize reports and set minimum passing grades for the tests.
iGrad offers a complete suite of interactive, video based financial and debt literacy programs that are demonstrating significant improvements in student behaviors such as lowered levels of indebtedness and higher levels of retention and student loan repayment, as reported by school clients.
iGrad is privileged to partner with more than 600 schools nationwide to provide a financial literacy platform which connects more than 1.2 million students, as well as alumni and staff. iGrad is the only organization to offer a customizable, adaptive learning financial education platform with optional video-based student loan entrance and exit counseling. iGrad’s recent accolades include:
* 2013 Outstanding Consumer Information Award, Association for Financial Counseling and Planning Education (AFCPE)
* Best Product of 2013, University Business Magazine
* 2013 Education Program of the Year, The Institute for Financial Literacy