John Hancock Michigan Scholars Program Marks Successful First Year of Providing EverFi’s Financial Skills Training in Michigan Schools
Educators from Detroit Public Schools’ Cass Tech High School, Administrators, City and Government officials, joined John Hancock executives to celebrate the public private partnership in education and recognize participants in the John Hancock Michigan Scholars Program, a web-based financial education course designed to provide students with critical skills needed to make sound financial decisions.
John Hancock has partnered with leading education technology company EverFi, Inc. to bring the interactive, web-based financial education program to 35 schools across Michigan. In the first year of this multi-year initiative, hundreds of Michigan students have received more than 3,000 hours of critical skills education.
Students at Cass Tech High School received certificates today for their work in completing the program. City Council Member Raquel Castaneda-Lopez as well representatives from the offices of Governor Snyder, Mayor Duggan, Attorney General Schuette, Senator Stabenow, Senator Peters and Congresswoman Lawrence also attended the celebration.
“John Hancock is proud to partner with EverFi to offer this innovative program to Michigan students,” said Linda Watters, vice president, John Hancock. “It is critically important that young people learn how the financial decisions they make today can have a long term impact on their lives and we hope this program will better prepare them for a successful financial future,”
The web-based program uses the latest in new media technology to bring complex financial concepts to life for today’s digital generation. The course offers over eight hours of programming covering a variety of financial topics such as savings, investments, credit cards, and student loans. In 2015, the Consumer Financial Protection Bureau (CFPB) highlighted EverFi’s schools-based financial education programs in a new report on Advancing K-12 Financial Education: A Guide for Policymakers.
“Our goal as educators is to prepare our students for a successful future, a job which often extends beyond a typical classroom,” said Brenda Belcher, DPS High School Network Leader. “Partnerships across school districts and private sector institutions allow educators to provide an important educational supplement, such as the John Hancock Michigan Scholars Program and enable us to give our children the best possible chance to reach their full potential.”
A FINRA-funded study released in February 2015 found that students who received rigorous financial education in high school saw increased credit scores and decreased chance of credit delinquency as young adults, compared to their peers who did not receive financial education. The John Hancock Michigan Scholars Program is implemented in a co-curricular basis, providing teachers with a valuable tool to use with students in a classroom setting.
“By partnering with the wonderful teachers whose passion is to enrich the lives of their students, the John Hancock Michigan Scholars Program helps students gain the critical skills necessary to make them successful for the rest of their lives,” said EverFi Founder and CEO Tom Davidson. “We are striving to create a world
with fewer bankruptcies, fewer people defaulting on their student loans, and more people who feel in control of their financial future. Through John Hancock’s investment in these students, we are one step closer.”
As an extension of the John Hancock Michigan Scholars Program, participating Michigan teachers are able to also share EverFi’s online civic engagement course with their students. The programming in another tool that prepares young Americans to become knowledgeable, engaged 21st century citizens and concludes with a student op-ed essay writing exercise.
About Detroit Public Schools
Detroit Public Schools offers Neighborhood-Centered, Quality Schools at 97 campuses with a mission to provide a comprehensive, well-rounded, engaging learning experience. Educational advantages include Individualized Learning Maps for all students, research-driven pre-kindergarten classes to prepare the District’s youngest learners, expanded fine and performing arts, music and sports programs at all grade levels, and 21 Community Schools offering extended services to support families. Ongoing advantages include Parent University at the district’s eight Parent Resource Centers, enhanced safety initiatives, and DPS-authorized charter schools led by educators with proven track records of raising achievement. In 2015, DPS graduates earned $164 million in grants and scholarships. To learn more, visit detroitk12.org or call 313-240-4DPS.
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Assets under management and administration by Manulife and its subsidiaries were C$883 billion (US$708 billion) as at June 30, 2015. Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘945’ on the SEHK. Manulife can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
EverFi, Inc. is the leading education technology company focused on teaching, assessing, and certifying K-12 and college students in the critical skills they need for life. The company teams with major corporations and foundations to provide the programs at no cost to K-12 schools. Some of America’s leading CEOs and venture capital firms are EverFi investors including Amazon founder and CEO Jeff Bezos, Twitter founder Evan Williams, and Google Chairman Eric Schmidt. Learn more at everfi.com.