College students have never had a greater need for financial assistance than they do today. As the student debt crisis grows bigger and more students are experiencing financial hardship throughout their time in college, the need for better economic education is growing. Earlier this summer, Bank of America offered a Better Money Habits training to members of United Way of Greater Los Angeles’ Young Civic Leaders Program (YCLP) in order to address this growing need.
United Way’s YCLP mentors high school students to become advocates for social justice and education, while preparing them for college completion and future careers. Equipping these students with financial knowledge is essential to their success.
The Better Money Habits training focused on providing these students with a better understanding of important personal finance topics in order to help them meet their financial goals. Overall, the participants found great value in the training.
· 70% increase in their understanding of how banks and bank accounts work
· 100% increase in understanding of credit scores and their impact
· 107% increase in understanding of how to manage debt
· 110% increase in feeling prepared to manage their personal finances in college
· 91% of the participants plan to create a budget as a result of the training
Together with its partners, United Way of Greater Los Angeles is breaking the cycle of poverty in L.A. County through housing solutions, education equality and economic mobility. In promoting equality in education throughout our community, we are empowering L.A. County students with the tools and resources they need to thrive in the next chapter of their lives.
Thank you Bank of America for supporting the next generation of college graduates in building a strong foundation for their financial futures.
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