Survey of High School Juniors and Seniors Reveals Low Levels of Financial Preparedness

Washington, D.C. – April 8, 2022 – EVERFI, Inc., a leading Impact-as-a-ServiceTM education innovator, today revealed the results of a student survey on the financial understanding and preparedness of thousands of high school juniors and seniors nationwide. The survey found that these students — nearing their transition to adulthood — report low levels of readiness to take on potential near-term financial tasks, from evaluating financial products to establishing and maintaining credit to understanding how to pay for college. 

As more than 1.1 million high school seniors are expected to commit to a college or university by May 1, only four in 10 students who responded to the EVERFI survey said that they felt “prepared” or “very prepared” to figure out the full costs of the colleges they were interested in attending. Further, while more than 2 million high school seniors completed the Free Application for Federal Student Aid (FAFSA) last year, less than half (46 percent) of students in the EVERFI survey said they felt prepared to fill it out, and a third of those same students (32 percent) felt that they could read and understand loan offers and repayment information they received. 

With college applications reaching record highs, and despite the steady increase in student debt, students reported being even less prepared to understand the financial implications of their loans. Only about a quarter of students (27 percent) reported being ready to estimate what their monthly payments might be after college. And about the same share of students (28 percent) said that they felt “prepared” or “very prepared” to establish a plan for how they will repay the student loans. …Read More

EVERFI Tackles Inequality in Nation’s Healthcare System with Introduction of First Healthcare Literacy Course for Students

New program addresses barriers that lead to social disparities; students learn to make important health and financial decisions 

EVERFI Inc., the leading Impact-as-a-Service TM education innovator, announced the development of the nation’s first healthcare literacy course designed for high school students. This new digital program will empower students across the country with the knowledge to navigate a complex healthcare system, advocate for medical care, and make good financial decisions to manage their healthcare needs.  The program will be available to all high schools nationwide at no cost during the fall 2021 academic term. EVERFI will work with its strategic partners to focus on reaching students in underserved, high-risk communities in an effort to drive ecosystems of change.

Although a lack of healthcare literacy disproportionately affects lower socioeconomic and minority groups, it is a widespread concern across the country regardless of age, education level, income, or race. More than 88 percent of adults in the U.S. have a low level of health literacy, lacking the skills necessary to fully manage their healthcare and prevent disease and nearly 46 million Americans say they would struggle to afford quality healthcare. Other studies suggest adolescents have a low level of healthcare literacy and struggle with reading health-related words and describing symptoms, particularly as they begin to take ownership of their health and medical needs.  

“Systemic inequality in our healthcare system has taken a heavy toll on disadvantaged communities,” said Tom Davidson, CEO and founder of EVERFI. “This is not just a health problem. This is a financial problem. We can no longer sit back and hope that individuals learn how to effectively use our healthcare system. The negative impact on individuals and their families can be devastating financially and may put someone’s health – or life – at risk. This critical knowledge needs to exist in every high school in America.”…Read More

New ed-tech services aim to stop the ‘summer slide’

This summer, students will have at least two new ed-tech services to offset summer learning loss, free of charge

“Summer learning loss is the great open space of education,” said Tom Davidson, EverFi’s chief executive.

Research suggests that students lose two to three months of grade-level equivalency in math skills over the summer, which affects their readiness for the new school year—and this problem is more pronounced for students from low-income families.

This summer, students will have at least two new ed-tech services to offset summer learning loss—and both will be offered to students at no cost.…Read More