WINSTON-SALEM, N.C.,
Aug. 30, 2016 /PRNewswire/ -- As students begin the 2016-17
school-year, BB&T today announced the expansion of its
Financial Foundations program, powered by EverFi, from 10 to 15
states. The web-based program successfully teaches high school
students how to comprehend and work with the principles of personal
finance at no cost to schools or taxpayers.
Since its implementation in 2010, more than 326,000 students
have taken the BB&T Financial Foundations course. It is used in
more than 1,000 schools where students have logged more than
914,300 hours of learning. After taking the BB&T Financial
Foundations course, students on average increased their test score
to 88 percent from 47 percent, or improved to a B+ from an F. In
addition, students' understanding of how to maintain a positive
credit score nearly doubled, and their comprehension of how to
apply for financial aid to help pay for college increased 85
percent.
The state-of-the-art, web-based learning platform consists of
3-D gaming and simulated environments, avatars, Twitter-like
messaging tools and videos. The program, which is incorporated into
existing school curriculum, teaches high school juniors and seniors
financial concepts integrated in nine basic online modules.
"Throughout the year, we have all learned lessons that we will
carry throughout our lives. From starting college, having children,
and starting 401(k) plans," said Aida
Siegal, a 2016 Stranahan High School Senior in Ft. Lauderdale, Fla. "Through BB&T
Financial Foundations, we now have a base of financial literacy
education."
The curriculum includes topics such as credit scores, savings
and investments, 401(k) offerings, stock exchanges, mortgages, the
Federal Reserve, taxes and insurance. In addition, the program
allows instructors to track individual and group performance. Upon
completion, students are BB&T/EverFi certified and receive a
certificate during a formal ceremony.
"Student reception to BB&T Financial Foundations has been
overwhelmingly positive," said Brittany
Brown, BB&T Student Leadership Program manager. "At all
levels, students have a real desire to better understand how to
manage their personal finances, take control of their financial
future and become smart consumers and investors."
According to the recently released National Capability Study by
the FINRA Foundation, an estimated two-thirds of Americans could
not pass a basic financial literacy test. In addition, the
percentage of those passing the test has fallen consistently since
the financial crisis to 37 percent last year, from 42 percent in
2009.
"If we are going to remain an economically competitive nation,
it is imperative that young people understand how the economy works
and how to achieve financial security in their own lives," Georgia
State Schools Superintendent Richard
Woods said. "The BB&T Financial Foundations program will
help us accomplish both of those goals – and it's a great example
of how we can work together as a community to improve the
educational opportunities that we provide to our children."
States now being added to the BB&T Financial Foundations
program include New Jersey,
Ohio, Pennsylvania, Texas and Virginia. The states already participating
include Alabama, Florida, Georgia, Indiana, Kentucky, Maryland, North and South Carolina, Tennessee, West
Virginia and the District of
Columbia.
"BB&T has set an unprecedented best-in-class standard for
high school financial education at a depth and scale that no other
large regional financial institution has done before. This kind of
leadership starts at the top," EverFi CEO Tom Davidson said. "BB&T CEO Kelly King has been a visionary on financial
empowerment and those values are pervasive throughout the
organization. We are grateful for this expanded partnership and the
positive impact it will have on these important communities."
BB&T supports financial education in many other ways:
- The BB&T Financial Foundations program for adults is
designed to help individuals take more control of their financial
lives. Free interactive courses with financial information and
assistance are available at BBT.com for clients and the program is
also available internally to BB&T's 37,000 associates.
- A college version of Financial Foundations, Transit, is
currently offered to students at nine partnering schools
- The BB&T Bank Bus is a mobile marketing and educational
center with computer workstations, internet access, ATMs and
classroom furnishings to provide financial education and lending
information at high schools, college campuses, community events and
for large employers
- Additional helpful financial tips, informative articles, and
planning calculators are available for free at BB&T's Learn
& Plan site on BBT.com
About BB&T
As of June 30,
2016, BB&T is one of the largest financial services
holding companies in the U.S. with $221.9
billion in assets and market capitalization of $29.0 billion. Based in Winston-Salem, N.C., the company operates
2,249 financial centers in 15 states and Washington, D.C., and offers a full range of
consumer and commercial banking, securities brokerage, asset
management, mortgage and insurance products and services. A Fortune
500 company, BB&T is consistently recognized for outstanding
client satisfaction by the U.S. Small Business Administration,
Greenwich Associates and others. More information about BB&T
and its full line of products and services is available at
BBT.com.
About EverFi, Inc.
EverFi, Inc. is the education
technology leader that empowers K-12, higher education, and adult
learners with the skills needed to be successful in life and work.
With investments from some of technology's most innovative leaders
including Amazon founder and CEO Jeff
Bezos, Google Chairman Eric
Schmidt, Twitter founder Evan
Williams, and venture investors New Enterprise Associates
and Rethink Education, EverFi has built the most comprehensive
digital learning platform that serves K-12, higher education, and
adult learners. EverFi partners with over 3,300 customers and
20,000 K-12 schools to bring its innovative learning platform to
learners across the country. Learn more at everfi.com.
Video - https://www.youtube.com/watch?v=OCnYVB9tpy0
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/bbt-expands-financial-education-program-to-15-states-300319626.html
SOURCE BB&T Corporation