San Diego, CA, December 02, 2014 --(PR.com
)-- In light of its groundbreaking survey that established a correlation between financial literacy and smart student borrowing, iGrad, developers of the leading financial literacy education platform, is launching its second annual financial literacy survey of college leaders who help students learn how to finance their education.
iGrad’s second annual financial literacy survey will focus on the priorities of higher education institutions as it relates to the financial well-being of their students.
“In addition to the abundance of college thought leaders who participated last year in our vanguard survey, we are engaging more financial aid and admissions officers – those in touch with student needs – so that we can present an even clearer picture of the most important areas in which colleges can help students,” says iGrad Vice President Kris Alban.
While the first survey drew responses from top universities and colleges, this year’s survey seeks to add even more institutions, asking administrators to assess which key initiatives are most important to their institution with regard to improving the financial capability, career readiness, and overall well-being of their student populations.
“As a leader in financial literacy education, iGrad has an obligation to help students understand how to handle their financial commitments and to work with administrators to provide resources that help students achieve their goals,” Alban says.
“We believe our second annual survey will help administrators understand how financial literacy initiatives are funded and prioritized by other institutions, giving them greater insight into optimizing their own initiatives,” he says.
If you would like to be a part of this important poll, and be one of the first administrators to see the insights gained, please take the survey now (link below).
The initial survey, with responses from approximately 300 nonprofit and for-profit institutions, was the first to explore the relationship between student loans and institutional guidance.
It showed that college students exposed to a financial literacy curriculum borrow less and were more proficient at money management.
Survey findings also concluded that institutions with a multi-departmental financial literacy task force were more likely to achieve substantial student usage for their financial literacy program, as well as more likely to receive institutional funding for their initiatives.
Among the results of the initial survey:
• Smarter student loan borrowing: 17.3 percent of the institutions with a financial literacy program in place reported that students borrowed less than the maximum amount awarded at least half of the time, versus 12.6 percent of institutions without a program in place.
• Task force effectiveness: Institutions that achieved a substantial student usage rate (over 30 percent) were much more likely to have a financial literacy task force in place than institutions with a lower usage rate (53 percent and 31 percent, respectively.
• Increased financial proficiency: Students at institutions with an interactive financial literacy program had higher proficiencies in all four categories assessed: money management, investing, financial aid and identity fraud prevention.
“This year’s survey will break new ground in the area of financial literacy and help institutions increase their effectiveness in working with students,” Alban says.Take the survey now
to participate in the annual iGrad survey; respondents will be the first to receive the survey results and analysis.
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
• Best Product of 2013, University Business magazine
• 2013 Education Program of the Year, The Institute for Financial Literacy