Truist's Commitment to Financial and Educational Empowerment: Investing in the Future of Students
Truist Financial Corporation has demonstrated a strong commitment to empowering students through financial education and literacy programs. Through strategic partnerships with educational innovators like EVERFI, Truist has reached millions of students across the country, providing them with the knowledge and skills necessary to navigate the complexities of the modern financial world and achieve academic success. These initiatives, such as Truist Financial Foundations and WORD Force Universe, address critical needs in financial literacy and reading proficiency, particularly among students in low- to moderate-income communities.
Truist Financial Foundations: Building a Foundation for Financial Success
Truist Financial Foundations is a digital financial education program designed to equip high school students with the essential knowledge and skills for financial success. Since 2010, this program has reached over 1 million high school learners across 15 states and Washington, D.C., providing them with online lessons that empower them to confidently navigate the modern financial world.
Comprehensive Curriculum
Truist Financial Foundations consists of seven personal finance lessons, ranging from banking basics to budgeting, managing credit and debt, and financing higher education. The program translates complicated financial concepts into engaging learning modules that allow students to practice financial strategies in a safe environment.
Measuring Impact and Increasing Knowledge
The program's effectiveness is measured by testing students before and after each lesson, demonstrating not only the teaching of financial capability but also its measurable impact. In the 2018-2019 school year, participating high school students increased their financial knowledge by an average of 78%. One student, Sarah Jane Stout from Charlotte-Mecklenburg high school, noted that the program helped her identify the necessary steps and measurements to prepare for college, emphasizing the importance of savings and earning interest.
Addressing the Challenges of Financing Higher Education
Truist Financial Foundations recognizes the challenges students face when financing higher education. The program includes a module with a blank FAFSA application that students can fill in themselves, increasing their confidence in completing this important step. In the 2020-2021 school year, students participating in Truist Financial Foundation increased their knowledge of financing higher education by 95% based on pre- and post-assessments.
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Expansion and Reach
The program has experienced exponential growth since BB&T, now Truist, began sponsoring the personal finance course. In the 2010-2011 school year, the program was delivered to more than 6,600 students. Last year, more than 206,000 students were impacted throughout 15 states, including Alabama, Florida, Georgia, Indiana, Kentucky, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and Washington, D.C. In the 2020-2021 school year, more than 236,000 students learned key financial skills and information in 17 states throughout Truist’s footprint, including Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and Washington, D.C.
Strategic Partnership with EVERFI
Truist Financial Foundations is powered and delivered to schools by EVERFI, an international technology company driving social change through education. This strategic partnership has been instrumental in the program's success, allowing Truist to leverage EVERFI's expertise in creating engaging and impactful educational content.
WORD Force Universe: Fostering Early Literacy Skills
Recognizing the critical importance of early literacy, Truist has also partnered with EVERFI to create WORD Force Universe, a program designed to improve reading skills among elementary school students. This initiative addresses the alarming problem of childhood literacy, which has been exacerbated by the COVID-19 pandemic.
Addressing the Literacy Gap
Studies show that nearly two-thirds of fourth-graders do not read at a proficient level, which has lifelong implications for their academic and professional success. Third graders who aren't proficient in reading are four times more likely to drop out of high school. WORD Force Universe aims to bridge this literacy gap by providing students with fun and engaging games that teach the fundamentals of reading.
Engaging and Effective Games
WORD Force Universe features 15 "save the world" games that teach K-2 children the fundamentals of reading. Each game focuses on a subskill, from letter recognition to reading comprehension with phonological awareness. The interactive, online program meets students where they are, allowing for optimal flexibility and convenience.
Read also: Real-World Education
Expansion and Impact
Truist and EVERFI launched a pilot WORD Force program in 684 schools at the end of January 2020. The success of the pilot led to the creation of a national hub for elementary school students called WORD Force Universe. The program is designed to ensure all students have equal access to literacy fundamentals, including phonics, letter-sound/letter name matching, word building, sight words, vocabulary, and reading comprehension.
Reaching Low- to Moderate-Income Communities
Truist hopes to reach as many children as possible with this critical education, particularly those in low- to moderate-income communities who may not have access to the same resources as their middle- and upper-income peers. By engaging community-based organizations and families directly, Truist aims to develop not just a proficiency but also a passion for reading, with the ultimate goal of helping to break the cycle of poverty.
Truist's Broader Commitment to Community Development
These educational initiatives are part of Truist's broader commitment to inspiring and building better lives and communities. As a purpose-driven financial services company, Truist recognizes the importance of investing in education and financial literacy to create a more equitable and prosperous future for all.
Financial Support and Scholarships
In addition to providing educational programs, Truist also offers financial support and scholarships to students pursuing higher education. The Truist Financial Foundations Scholarship Contest, for example, awards scholarships to students who have completed at least three EVERFI: Financial Literacy for High School lessons.
Community Engagement
Truist actively engages with communities through various programs and initiatives, including Truist Cares, which supports communities affected by the coronavirus pandemic. The company also encourages its employees to volunteer and give back to their communities.
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EVERFI: A Key Partner in Driving Social Change
EVERFI plays a crucial role in Truist's educational initiatives. As an international technology company driving social change through education, EVERFI provides the expertise and resources necessary to create impactful and engaging learning experiences for students.
Impact-as-a-Service
EVERFI's Impact-as-a-Service solution and digital educational content have reached more than 41 million learners globally. The company's platform powers community engagement in a sustained manner, empowering individuals and organizations to make an impact within their communities.
Recognition and Awards
EVERFI has been recognized as one of the World's Most Innovative Companies by Fast Company and was featured on Fortune Magazine's Impact 20 List. The company was also named to the 2021 GSV EdTech 150, a list of the most transformative growth companies in digital learning.
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