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Do you agree that kids know how to spend money but really do not have any idea on how to earn or keep it? It seems that one organization noticed and is now baiting students with a scholarship that comes with a ‘financial’ catch.
Raise.me will now let students earn a scholarship that’s worth up to $1,000. In return, the students will need to complete an online personal finance course. This company was put up in 2012. Since then, it has partnered with colleges and universities where they offer student scholarships to those who have high test scores, who keep a job, or volunteer in communities.
This is eligible for students who are in grades 9-12. In order to get the $1,000 microscholarship, the student must complete all of the nine financial lessons on EverFi, which is a free digital learning resource. In here, the kids will have the opportunity to learn different financial topics such as credit scores, savings, taxes, and investments. After completion, students will be granted the scholarship from participating schools that include University of San Diego, Oberlin College, and The University of Rochester. The participating school will only get to issue the scholarship if the student chooses to enroll in their institution.
Raise.me co-founder George Kirkland says that while many colleges provide financial guidance to students to help them graduate in a timely manner, some of these want conversions to happen sooner. Kirkland also says that many of their partners agree that it is essential for students to understand some financial information such as scholarships, cost of college and the like to help them make better decisions.
The company is already adding up to three colleges to its platform each week and they already have plans to make financial literacy program a permanent addition, which they say would be recommending to schools from this moment on.