SAN DIEGO—Leading financial wellness company iGrad has partnered with Cleveland State University to provide a customized and interactive financial wellness platform to students in the Ohio public university’s TRIO Student Support Services (SSS) program.
"iGrad was selected due to its ease of use, content available and the ability for our students to navigate incredible resources at their own pace.” Cullin Fish, TRIO/Student Support Services Assistant Director at Cleveland State University
iGrad’s platform at CSU includes customized and interactive multimedia content and tools on everything from building good credit, budgeting and money management to debt management and loan calculators.
iGrad is currently used by more than 600 public and private colleges and universities of all sizes, including Columbia University, Central Michigan University, New York University and Davidson College.
The SSS Program is one of eight TRIO grant-funded programs offered through the U.S. Department of Education.
The TRIO/SSS Program is designed to help first-generation college and/or low-income students progress toward graduation. More than 500 students are in the CSU TRIO/SSS program.
"iGrad was selected due to its ease of use, content available and the ability for our students to navigate incredible resources at their own pace,” said CSU TRIO/Student Support Services Assistant Director Cullin Fish. “Financial wellness and the skills that iGrad showcases are instrumental to student success due to the impact that financial challenge can have on a student's everyday life. We are looking forward to our students utilizing iGrad and all that comes with it to assist in the growth of our student population within this critical area."
Research shows that student financial literacy programs can decrease financial stress, improve academic performance and teach students how to manage their finances for a lifetime.
Bolstering student financial literacy has become a high priority as many colleges and universities are experiencing declining enrollment and degree-achievement rates:
- Since the start of the pandemic, college enrollment has declined 5.1 percent, with “unprecedented” declines among students from low-income or high-poverty high schools, according to a report1 by the National Student Clearinghouse Research Center.
- Data from the National Center for Education Statistics2 shows that, even pre-pandemic, the degree achievement rate for all students nationally was only about 62 percent. For lower-income students, like those participating in TRIO programs, the numbers are even worse, with just 21 percent earning a degree in six years.
“The pandemic has hit first-generation and low-income students especially hard,” said iGrad Vice President of Business Development Donna Miller. “It’s important that college students—particularly those in vulnerable populations—understand financial aid, student loans, budgeting, credit scores and more. Increased financial literacy can positively impact students not only while they are in college, but for a lifetime.”
iGrad is a San Diego-based financial technology company that offers artificial intelligence-powered financial wellness solutions to more than 600 colleges and universities, more than 20,000 employers and more than 300 financial institutions. iGrad’s Your Money Personality™ was recently recognized by the Institute for Financial Literacy with the 2020 Excellence in Financial Literacy Education (EIFLE) Adults’ Education Program of the Year award. iGrad is one of three 2020 honorees in the inaugural Barron's Celebrates: Financial Empowerment, after being selected by a team of judges for its contributions to improving the financial health and security of Americans. iGrad also received the 2019 Eddy Award for Financial Wellness by Pensions & Investments for its Enrich platform. For more information about the iGrad platform, visit https://www.igradfinancialwellness.com. For more information about the Enrich platform for employers and financial institutions, visit https://www.enrich.org.
1 - https://nscresearchcenter.org/current-term-enrollment-estimates/
2 - https://nces.ed.gov/programs/coe/indicator_ctr.asp