The Other Side of College Success: Advisor Resources for Data-Driven Conversations

Helping college advisors make data-driven decisions

Posted on 06.30.2020 by admin

A recent survey found that over half of Black and Hispanic/Latinx parents of high school students are reporting changes in their child’s post high-school plans, compared to 43% for white parents. Those changes include deferring a year when colleges allow it, or changing decisions on which college to go to. The same survey found that less than half of students plan to go to a four-year college, which is down from 7% only a month ago. If you were wondering if it makes sense for students to go to an all-online college in the fall, consider a recent survey that shows 33% of high school seniors would rather defer or cancel admittance.

Why Moneythink cares about this issue

Moneythink’s mission is to dramatically increase the number of historically underrepresented students graduating with postsecondary degrees while carrying little to no financial burden.

A core focus of our work—and why our agile, student-first team is so committed to our model—is to help students and their families understand the intersection between affordability and overall fit as early as possible in the college search process. With our technology, content, and senior financial aid advisor brainpower, we help students determine which schools offer the best VALUE and understand how to pay for it responsibly, setting them up for success. At Moneythink, success is not as simple as students completing their college path with a degree, though that is a tremendous part of it and a huge enough barrier by itself. We believe that success goes beyond students’ college years and should be defined by the completion of a degree without the unnecessary financial stressors that plague millions of low-income and first-generation students.

Since our inception in 2008, Moneythink has been a leader in financial capability for traditionally under-served youth. Along the way, we have mentored 32,000+ HS seniors and college students nationwide using our proprietary financial capability curricula — garnering accolades along the way, such as the White House Champions of Change Award.

Our outcomes show that we’re making an impact; and our work wouldn’t be possible without our partners. We have relied on a diverse set of college access nonprofits, public schools, and social-benefit collaborations to support our students’ journeys. For example, recent webinars with and insights from partners like Richmond Promise, ScholarMatch, and Taco Bell’s Live Más Scholars reinforce and remind us that there’s still much for us to learn. And much more for all of us to do.

“It is clear this type of support is needed and wanted by our students…Highlighting key areas that may be overlooked daylights the complexities of financial aid, which is a necessary starting point to engage students…and support them in making an educated decision.“
Richmond Promise

“Moneythink emphasizes the costs [for students and families], as opposed to the estimated bill, and a healthy caution around Parent PLUS loans.“
ScholarMatch

What you can do now to support the Class of 2020 and transfer students

Because of our direct experience coaching students through financial decision making, along with paying attention to the landscape, we are here to offer relevant, timely information and resources to the field through capacity-building webinars, public content, and more to support #LessDebtMoreDegrees across the country.

Here are some answers to questions you may be asking.

Q: My student still doesn’t have all the information she needs to compare awards apples to apples. What can she do right now?

TuitionFit is one of the really great, accessible resources. They will help your student compare real financial aid offers and actual college prices by sorting through thousands of financial aid award offers shared by prior year users.

Q: My student seems like he’s eligible to get his deposit fees waived but it’s unclear how he can request a waiver at his college. What are his options?

You can use the NACAC Enrollment Deposit Fee Waiver if your student is experiencing significant financial hardship. A supplemental document outlines additional ways that you can advocate for him to get the support he needs.

Q: My student has the circumstances to appeal their financial aid package but we don’t know how to submit a strong appeal. Where can we go?

To request a change to your student’s college financial aid package, SwiftStudent can help you write a financial aid appeal letter for free with customizable templates.

Q: Should I support my students in deferring admission?

Money is going to be top of mind for students and their families when making the decision to go or not to go this fall. You will need to guide your students on a case-by-case basis depending on their college acceptances, financial aid award letters, and strength of the match. Only the college will have instructions on whether they accept deferment and under which circumstances so check with them first via online, by email, and by phone if needed.

Q: Where do I go for the latest information from my student’s college on their plans for the fall?

Colleges like Oregon State University are giving their admitted students the opportunity to tell the college what their plans are while making their responses “completely non-binding” through surveys.
The California State University (CSU) Chancellor’s Office gave students and staff some sense of what to expect this fall, announcing that “the planning framework for all 23 CSU campuses will be virtual instruction with very limited exceptions that meet rigorous and extensive safety and training requirements and are approved by the Chancellor’s Office as well as public health.”
There’s still room for differences across campuses and systems because of where colleges are located and how they’re affected by COVID-19. Students should check their emails regularly and sign into their college portals where they have access.

How Moneythink supports YOU so you can support your students

Our college affordability tool, DecidED, scheduled for release this fall, brings transparency to the affordability options of students’ college choices. Especially as college costs, gift aid, and gap financial comparisons lack clarity, our tool has been developed to help you to better support strong enrollment decisions with the necessary financial data and relevant fit factors at hand — completely removing the guesswork out of college affordability. DecidED enables you to have even more productive and guided conversations with students about the tradeoffs of college options by:

Comparing true apples-to-apples affordability levels, quality, and fit across multiple college options;
Considering how graduation rate and future salaries outcomes might influence a students’ enrollment decision;
Enabling you to better support holistic and informed enrollment decisions grounded in an accurate and complete understanding of college costs;
Supporting your students in creating an action-oriented financial plan to responsibly pay for their first year of college, mitigating the chances of attrition or pausing out.

Do you like to use College Navigator for college profile information? DecidED’s college data comes from the same source. Want to get a head start on your financial aid planning curriculum and strategy for the Class of 2021?

Check out our Financial Aid Guide to support professional development before the fall.
Sign up if you want to be informed about DecidED Training opportunities!
We are offering free pilot partnerships to a select group of college access organizations. Register here to be considered.
Follow Moneythink on social media and subscribe to our mailing list for our latest news, resources, and best practices.

It’s critical that we support the Class of 2020 through the transactional and social-emotional benchmarks of their college journey. This includes double-checking their financial aid, following up on appeals, active listening and affirmation, and coming up with backup plans together as needed.

As you think of ways to support your future college-aspiring students, let Moneythink help by giving you and your students the information they need. Together, let’s ensure that students are equipped and prepared to enter college without the unnecessary financial challenges that detract from focusing on personal growth and academic success.

Moving Forward in College and Career in the Time of COVID-19

Posted on 06.25.2020 by admin

If you are wondering what the new normal will look like, we’re all wondering the same thing. You had plans for the fall and you’re staying the course, you’ve changed your plans, or you’re in the throes of figuring out just how much those plans will change.

If you’re committed to starting college in the fall, expect others to join you! About 42% of students in a recent survey will not delay under any circumstances. Another survey from April shows that 17% of respondents are weighing a delayed enrollment to a four-year college until spring 2021. We’re also seeing that confidence to stay on track to college persists.

At Moneythink, we have your back. We want you to feel confident that, although the options may look different at least in the near future, there are still solid opportunities with the choice being yours to make. Here’s what you may be considering:

I’m still waiting to make a decision since other colleges have extended their deadlines. How do I make my choice?

Option #1. Accept for fall 2020 or spring 2021 and prepare for a potential virtual or hybrid experience.

Whatever the new normal looks like, colleges are getting ready for you! According to a recent report, 70% of colleges set up COVID-19 student necessity/emergency funds for their students as they prepare for the coming fall semester. While some colleges know their plans for the fall, others are still coordinating. “The majority of colleges and universities have not made a decision on the mode of instruction for fall,” and we expect this because the nature of COVID-19 is evolving across the country.

According to a recent report, 70% of colleges set up COVID-19 student necessity/emergency funds for their students as they prepare for the coming fall semester.

There is information out there so be sure to read it. Have any questions? Ask your high school counselors or local college access providers like Boys & Girls Clubs across the country, or local organizations like Making Waves, One Goal, Richmond Promise, and ScholarMatch.

If you’re thinking about taking a break for a semester or a year, “institutions are giving students the option to defer enrollment to later in the fall or to spring 2021.” Be sure to check with your intended college on their specific policy.

Option #2. Defer for a year — if your college allows it.

There are many reasons you may wish to defer, from staying home to help family, to taking the time to rethink your educational goals and plans. When you defer (also called taking a gap year), you plan to enroll in the next academic year (2021) in a college you were accepted to this year. Here are some things to know about deferring admission at your college:

The college needs to accept deferment.
Colleges maintain different policies to grant deferrals.
Some colleges require you to describe how you will use your gap year.

Contact your college to learn more about their process to be sure that deferral is a real option for you. Global Citizen Year has useful information on gap years.

Option #3. Do not accept any colleges this year and reapply next year.

With this option, you’re not taking an official gap year. Instead, you are foregoing all of this year’s college acceptances and choosing to apply again for next year, fall 2021.

However, it gets harder to enroll in college the longer you wait, so be sure you have a plan. Choosing this option gives you a chance to reconsider and rebuild your list — and decide which colleges you will reapply to during your year off. To keep you organized, let us support you! Join our mailing list and we’ll tell you when our tool DecidED comes out. You can use DecidED to track your colleges, upload your financial aid award letters, and easily compare which colleges are affordable and the best fit for your needs!

Likewise, if you do choose to forego your college plans this year altogether, we highly suggest that you use your time wisely with work or volunteering, applying to scholarships, and focusing on activities that help you grow, enhance your skills, and extend your experiences and networks. Consider programs like City Year and Year Up who have rolling application deadlines and can give you hands-on training in real-world pathways, starting this fall.

Whichever of the three options you take now, keep in mind that there are trade offs that you’ll have to weigh. Remember that, in the end, going to college typically means increasing your earnings. College graduates, on average, will earn roughly $900,000 more than the typical high school graduate during the course of their working life, which is why going to college is a financially smart option. When you push college back a year, you are trading your post college earning potential for whatever you may earn during your year off. Whatever that tradeoff is to you, think critically, do your homework, and commit to your decision.

College graduates, on average, will earn roughly $900,000 more than the typical high school graduate during the course of their working life

To make smart financial decisions, consider affordability in your choice! Check out our Financial Aid Guide for steps on Using Awards to Calculate Cost of Attendance. For a visual tutorial, view a recording of our webinar below or download the full video here. Whatever your college decides and when they decide it, prepare to adapt to the situation, and commit to making the most of your college experience. You got this!

Supporting Students Through COVID-19 Towards College and Career

Posted on 06.23.2020 by admin

Things are changing in real time as colleges decide whether they will serve students on campus or virtually this coming fall. Likewise, students are considering a range of issues such as how far from home they can realistically go, if they need to work sooner than later, and if college expenses are even wise right now. As allies and college financial advisors, our intention is to ensure that all students have the tools and resources they need to make informed and affordable college decisions - ultimately helping them reach their college and career goals. As such, it’s important we know the circumstances students face if we are to strike the balance between giving expert guidance and affirmation as they make this important decision in their young lives.

According to the 2020 Indicators of Higher Education Equity in the United States report, for every 100 low-income and first-generation dependent students entering college, only 26 will have earned a bachelor’s degree six years later compared with 69 of students who are not low-income and first-generation. While more low-income students are attending college, fewer students are graduating on time.

Enrolling in a college with sustainable financial planning is critical for student success — both in college and beyond. Deciding what college to attend, however, is rife with financial risk. Colleges may offer a student dramatically different financial packages, but full cost information can be difficult to obtain, hard to compare, and challenging to interpret.

Why is financial aid so difficult?

frustrated student covering face with book

In our Financial Need and Ownership Report, we reveal two driving factors of students’ financial vulnerability based on our interviews:

Unmet Need – the amount that is left to be paid after financial aid is awarded (not including loans).
A Sense of Ownership – students who view themselves as responsible for their financial situation have an internal sense of ownership over their financial situation.

Unmet need is rarely clear. Award letters are difficult for students, families, and academic counselors to interpret. Because of this:

The nation’s $1.6 trillion in student debt is fueled by opaque pricing in higher education.
Only 1-5% of 4-year colleges are considered affordable for first-generation and low-income freshmen, each year.
70% of college dropouts leave school due to pressing financial concerns.
Pell grant recipients, most of whom have family incomes under $40,000, are 5x more likely to end up in default as their higher income peers.
First-generation students are more likely to end up in default than students whose parents had attended college.
African-American students are more likely to default on their loans than students of other races and ethnicities.
And, while 60% of white students borrow money, 87% of minorities borrow to attend college.

This issue is not a partisan one. According to Senator Lamar Alexander on NPR, “We consistently hear from students, parents, and administrators that students looking for federal financial aid to go to college need a much simpler system for the $30 billion in grants, roughly $100 billion in new loans, and the repayment plans for those loans.”

Unfortunately, it’s widely acknowledged that award letters are a major source of the inequity, confusion, and misinterpretation. Here are the Seven Financial Aid Award Letter “Don’t’s” that we’ve identified since 2008:

Include confusing jargon and terminology.
Omit the complete cost of attendance.
Fail to differentiate types of aid.
Mislead packaging of parent plus loans.
Provide vague definitions of work study.
Show inconsistent bottom line calculations.
Do not provide clear next steps.

In the article The Financial Aid Conundrum, we see that this issue affects all students, but disproportionately for low-income students of color who tend to have a lower sense of ownership. When students lack basic financial literacy skills, they make decisions that are based more on the influences of others than their own needs, and more fueled by opinions rather than critical information.

silhouette of a woman with her fist in the air

Moneythink is on the case

Since our inception in 2008, Moneythink has been a leader in financial capability for traditionally under-served youth. From 2008-2016, we mentored 30,000 HS students nationwide using our proprietary financial capability curricula — garnering accolades along the way, such as the White House Champions of Change Award.

Beginning in 2016, after years of work in financial literacy mentorship, we honed in on one of the most decisive moments in a young person’s life: enrolling and graduating from college with minimal financial burden. With an acute understanding of the obstacles, it was clear that a successful Moneythink program could support the development of youth-focused financial empowerment habits through virtual college financial advising, while also impacting long-term behavioral change and economic status. Between 2017-2019, we provided financial college coaching to over 2,500 students in Illinois and California.

Along the way, it became clear that we could support the field as content experts focused on providing objective financial aid coaching. We convene advisors and organizations already doing great work and optimize their financial aid coaching with our tools, content, and training.

In my interview with Next Gen Personal Finance Co-Founder Tim Ranzetta of the “Tim Talks To…” Podcast, I remind the field:

“It’s not because there isn’t a standard format. The Department of Education has suggested a financial aid award template to help clarify and systematize the information across different colleges. But it’s really up to colleges to decide how to format the information, the language they use. And we’re really seeing a lot of variance between college financial aid award letters.”

We know that students, families, and educators need to have tools at their fingertips to make sense of the information they can get, in whatever format it’s in, to make a truly informed choice that keeps student goals at the center.

This is where Moneythink’s new affordability tool, DecidED, comes in.

Student with backpack and headphones smiling on a busy street

What Moneythink’s DecidED can do for YOU and Your Students

Our tool, DecidED, completely removes the guesswork out of college affordability for students and their families, as well as empowers counselors and advisors in the space. Moneythink’s tool, DecidED, scheduled for full release in the fall, 2020: .

Helps students make a holistic college enrollment decision informed by an accurate understanding of the cost of their college options.
Provides focused, action-oriented, personalized content that helps students, families, and advisors make well informed enrollment decisions based on clear guidelines and methodology.
Helps schools, districts, and college access organizations extend the reach and impact of services by scaling financial aid literacy and action-enabling tools with technology and reporting.

DecidED can support educators and institutions during, throughout, and after the financial aid application process for students.

Educators and Institutions will be able to use DecidED for relevant, accurate financial aid guidance, advising, and tools so that they can navigate the “next normal” as education systems re-invent themselves.
Administrators and Advocates can use DecidED for training, research, stories, and data that can inform reform as educators reconsider education priorities in light of lessons learned this year. We also share relevant, timely information and resources such as the NACAC Enrollment Deposit Fee Waiver and SwiftStudent for appeals.

DecidED helps students complete financial aid transactional steps and make a holistic college enrollment decision.

Students use DecidED during the financial aid application process to:
- Receive FAFSA/CA Dream Act submission reminders and instructions;
- Make highly informed enrollment decisions grounded in an accurate and complete understanding of college costs;
- Compare true apples-to-apples affordability levels, quality, and fit across multiple college options;
- Consider how graduation rate and future salaries outcomes might influence their enrollment decision;
- Have productive conversations about the tradeoffs of college options with advisors and family; and
- Create a data-driven financial plan to responsibly pay for their college years.
Students use DecidED once in college to:
- Receive FAFSA/CA Dream Act renewal reminders and instructions for 2nd+ year of college; and
- Continue to make highly informed decisions related to their financial plan to responsibly pay for their remaining college years.

Using our cutting edge-technology, DecidED clarifies the difference between gift aid (what students don’t have to pay back such as grants and scholarships) and self-help (what students have to pay back or earn such as loans and work study), and makes clear what the costs of attendance are. Only with all of these pieces can students and families fully understand 1) what college will cost, 2) how much outside aid they will get to go there, and 3) what is left for the family to cover. By helping students make affordability-informed enrollment decisions, we expect that will increase the chance of students obtaining a bachelor’s degree, within their expected time to completion, with a sustainable amount of debt.

college advisor works with student in front of a blackboard on a laptop

Partner with Moneythink to scale success

Whether you are a high school counselor, a school administrator, a district director, an education advocate, or a college access program lead, we want to help you scale your success.

Here are the different ways you can engage with Moneythink to enhance your services and extend your impact.

Sign up for a DecidED Demo this summer and learn how the tool can be used by you and your partners.
Sign up for a Moneythink Partnership Info Session this summer and find out how partnership with Moneythink can improve your student outcomes and increase your team’s capacity to advise and affirm.
Sign up for a Moneythink Financial Aid Training for the fall and let our content experts update your staff on financial aid policy, financial aid applications, and best practices in the field.
Sign up for the DecidED Pilot for the fall so that we can offer your organization the collaboration, data, tools, and resources to help your students succeed.
Sign up for a Moneythink API Info Session if you’d like to learn more about how our data, reporting, and API resources can compliment and improve your existing tools and reports.

DecidED comes at a critical time when K-12 systems are still waiting to understand how the coronavirus will impact school plans for the 2020-2021 Academic Year. Moneythink can support education leaders in designing a new normal for graduating high school seniors, incoming college freshmen and incoming college transfers that learns from old lessons and prevents more students from making ill-informed and unaffordable college decisions.

Together, we can help our students not just survive, but thrive. Not just complete, but succeed. Our students can achieve #lessdebtmoredegrees, and at the same time, design a pathway towards an economically sustainable future for themselves, and their families.

About the authors:

Joshua Lachs serves as the CEO at Moneythink, a national ed-tech nonprofit that aims to bring college cost transparency to scale while helping all students have the opportunity to earn a college degree with little to no debt.

Meredith Curry is a Senior Advisor at Moneythink. Meredith has served as the Founding Director of Operations at California College Guidance Initiative and the Executive Director at South Central Scholars.

As former first-gen college students, Josh and Meredith each know firsthand that the financial side of college can be daunting and are both inspired to ensure that students have access to the opportunities they deserve.

Our Next Phase of Growth

Posted on 12.30.2018 by admin

Moneythink announced today that Joshua Lachs has been named the new Chief Executive Officer of the organization.

Josh brings extensive experience in the nonprofit, social enterprise, and higher education sectors to Moneythink. His history of leading comprehensive strategic development as well as revenue, program, and external relations growth will be instrumental in guiding Moneythink through its next phase of development and scale.

“Since our founding in 2008, Moneythink has pioneered award-winning technology solutions to bring financial guidance to its students, and today the organization is perfectly poised to scale its impact,” said Board Chairman, Greg Nance. “Josh’s catalytic leadership as CEO will enable millions of young people to overcome financial barriers to college success. We are confident Josh has the creative insight, operational acumen, executive experience, and core values to lead our pioneering, mission-driven organization into a defining new era.”

About Josh

Josh comes to Moneythink from the internationally-reaching organization, Net Impact, where he served as Chief Business Development Officer. Previous to that, he was the CEO at Breakthrough Collaborative, an award-winning, national college access organization with the country’s largest pre-residency program for aspiring educators. While at Breakthrough, his team lead the development of a new organization-wide strategy and brand refresh, secured the organization’s largest multi-year grant, and increased its service outreach by 60%. Josh also previously served as Chief Officer of Workforce Development & Community Engagement for Goodwill Industries of San Francisco, San Mateo, and Marin, a nationally reputed $42M regional job training enterprise. At Goodwill, he led a robust portfolio of publicly and privately funded teen- and adult-centered job-readiness programs, including San Francisco City’s One Stop Center. Prior to that, Josh enjoyed a lengthy career as a university dean and executive director scaling programs, diversifying revenue streams, and growing partnerships for globally-facing campuses.

Among Josh’s proudest accomplishments was the creation of the Institute for Entrepreneurial Leadership at JFKU, which has since helped establish hundreds of enterprises generate more than $1B in total revenue while creating more than 4,000 jobs.

“I am absolutely humbled, honored, and energized to join Moneythink and to build on the organization’s bold vision.” said Josh. “The entire organization is so impressive — the Board and the team — underscored by their shared values, commitment to Moneythink’s mission and its students, and entrepreneurial zeal. As a first-generation college student, myself, Moneythink deeply resonates with me. With this team in place, we are well positioned to dramatically increase the number of students it serves and the communities it empowers, along with being a trusted partner in the broader college success ecosystem. It’s a privilege to be chosen to succeed Ted and lead Moneythink into its second decade. We are excited to build on our track record and create even greater reach and impact!”

A Career of Service

Josh has been active in his community throughout his entire career.

He has served on a multitude of nonprofit boards and institutional committees, as well as frequently consulted for social impact organizations in the areas of strategic planning, resource development, program scale, and operations. Josh earned his B.A. from UC Berkeley and holds two masters degrees from Columbia University. He and his wife, Samantha, live in Berkeley, CA raising their two young sons, both of whom attend the local public schools.

Josh succeeds founding CEO, Ted Gonder, who led the organization from its establishment in 2008 at the University of Chicago as a student volunteer initiative to its growth as a nationally recognized college access nonprofit organization.

Under Ted’s leadership, Moneythink was awarded the White House Champions of Change award by President Obama, and since its founding has brought free financial education to over 15,000 young people in 30 cities across the country. Along the way, Moneythink has been recognized as a pioneer in the development of technology solutions, and today, the organization is primed to scale its impact.

Of the transition, Ted said, “It has been an honor and privilege to serve as Moneythink’s founding CEO for the last 10 years. I have been able to watch it change and develop into something so much more than we ever imagined when we dreamt up this vision in our college dorm. We’ve reached a stage of development that is well-suited for a seasoned nonprofit executive, and I couldn’t think of anyone better suited for this task than our new CEO, Josh Lachs. I’m excited to use my role on the board of directors to support Josh’s leadership and continue guiding the organization toward its vision of an equitable future for all students.”

Josh’s appointment is a reflection of Moneythink’s incredible growth over the last two years and its current state of innovation. Moneythink is extremely grateful for Ted’s leadership and are excited for him to continue to serve as an advisor on the Board of Directors.

Read Ted’s farewell letter on his personal Medium page here. And read and share our Newswire press release here.

Be a part of the solution by making a donation, referring a partner, or becoming a corporate contributor.

An Open Letter to Platforms that Use Emojis

Posted on 03.02.2018 by admin

To those who provision emojis,

Thank you for the work you are doing. You have provided many people with a fun and convenient way to express themselves in digital conversation. With so many users flocking to your platform at an ever-increasing rate, you’ve made it easy for individuals and brands to convey ideas to their family and friends, clients and colleagues.

To provide such a simple yet powerful means for people to express themselves is quite a privilege.

And because you provide for so many people — a delightfully heterogeneous medley of humankind — you have taken on a responsibility to furnish emojis representative of all the identities and experiences of such a gloriously vast array of humanity.

Are you doing enough with using emojis responsibly?

Here’s our assessment: You’re pretty well-established at this point, at least in terms of brand recognition and daily active users. Your business is doing quite well, fending off competitors while maintaining a solid foothold in your realm of the marketplace. And thus, with such a magnitude of power and influence, you have this tremendous opportunity to improve the inclusivity of your emoji selection.

In your current emoji selection, there is a patent lack of representation for so many folks: for the people of color whose hair colors and skin tones are not yellow-white, for those who cannot conform to the gender binaries of cis-male and cis-female, for those whose partners and families are not mono-ethnicities or do not look like hetero-norms.

For this exquisite assortment of users, your current emoji selection can feel quite exclusionary.

And so you have before you this magnificent opportunity to improve it.

Now, it’s possible that you don’t yet have a design team dedicated to the care-taking of your emojis.

Let’s talk about that.

When it comes to the question of whether to outsource emoji creation or to manage your emojis in-house, you of course must take business concerns into account. And although your initial thought might be “Emojis are not our business,” let’s challenge that reaction by expanding on a conviction you hold most dear: is it not your business to change the world?

As a corporation, is it not your mission — your business — to change the world? As an individual, is it not your ambition — your business — to change the world?

So if your business is indeed to change the world, then begin here: wield your influence in the realm of emojis. Change the world by changing the emoji selection that you provision.

You have an enormous power to impact the lives of so many people in such profound ways, as this impact is compounded and magnified by your platform’s daily use. So it would be revolutionary for you to manage your own emoji offerings, to make small, deliberate changes to your emoji selection, and to see that change resonate, like ripples of influence ever-expanding across our globalized world.

So here is our invitation to you, the people who provision emojis.

Take responsibility for the emoji selection that you provision: acknowledge your power and seek to make your selection more inclusive.

Seize this opportunity to change the world. Make decisions and prioritize work that you can be proud of. Embrace critique and leverage it to become better. Set aside perfection in favor of effective, intentional action.

Move with courage, even if — and especially when — you’re the first to move in that direction.

Let’s take radical ownership of our power, and co-create the world in which we want to live.

Onward!

The Moneythink Team

Today’s DACA Decision is Unconscionable

Posted on 03.02.2018 by admin

As college-planning and financial experts, we at Moneythink have worked with students from all backgrounds and of all citizenships statuses. We believe that children who grow up in America, who are educated in America, are fully and irrevocably Americans. A student’s immigration status or lack thereof should in no way affect their admission into institutions of higher education or their access to the resources needed to achieve college success.

Moneythink’s Public Statement

We urge every member of Congress who values the future of American children, who values hard work and education, to act immediately in bipartisan support of preserving DACA (the federal Deferred Action for Childhood Arrivals Program) and to pass legislation providing a pathway for these children to secure citizenship.

Rescinding DACA does not make America safe — instead, it punishes American children who were born somewhere else, children who dare to aspire to the dreams of education and prosperity that we have raised them to believe in.

Defending DACA, moreover, rewards the hard work of young Americans who are pursuing an education to become self-sufficient, who are persisting in spite of their circumstances in the only country they know as home.

We encourage all American institutions of higher education to join the University of California in providing their undocumented students with services such as:

Continuing to allow California residents who are Dreamers to pay in-state tuition;

Maintaining the DREAM loan program for financial aid;

Offering legal services to our undocumented students;

Supporting campus-based student service centers; and

Directing campus police not to contact, detain, question or arrest individuals based on suspected undocumented status, or to enter agreements to undertake joint efforts to make arrests for federal immigration law violations.

We at Moneythink will continue to provide unwavering support to all our American students, who are learning, working, and serving in their communities today, who will ultimately make great contributions to the prosperity and advancement of their country.

This article originally was published on September 7th, 2017 on Moneythink’s previous blog site. Read more here.

Student Success Series: Bartee Taylor

Bartee smiles at the camera in a red shirt.

Posted on 02.28.2018 by admin

Bartee enrolled in Moneythink’s coaching program during January 2017 as a senior from Perspectives High School of Technology. He joined the first cohort of students in Moneythink’s College Financial Coaching program. In September 2017, Bartee sat down with Moneythink staff to discuss his experiences with the program over the last few months, and his journey to college. This is how Moneythink guided Bartee’s student success story.

Raising the Bar

As the first of his siblings to graduate high school, Bartee “wanted to raise the bar even higher for my younger siblings from graduating high school to graduating college.”

His mom received her Bachelor’s degree in psychology; with an extended family of nurses, he knew he wanted to pursue a similar career path and could turn to them for support. As Bartee was exploring his options for college during his senior year of high school, Chicago was barely on his radar. “I didn’t want to stay in Chicago. I’ve been here all my life and… I was trying to experience something different.” He ended up applying to schools in the South and in the West and ultimately chose to attend a university in Texas.

Bartee worked with his Moneythink coach to create a comprehensive financial plan for his school in Texas. During his time working with his coach, he discovered a first-year financial gap of nearly $8,000 that he and his family would have to come up with to pay for his tuition. Although the cost of attendance was higher than Bartee and his coach had hoped, he was determined to get out of Chicago and was excited to move in the fall.

Bartee’s situation is actually quite common. Many students believe that working more hours or taking on more loans will be enough to see them through these large financial gaps, forgetting to consider the consequences.

Change of Course

With his paperwork submitted, orientation complete, and just a few weeks to go until his move-in date, Bartee was ready to begin his college journey. However, at the beginning of August, Bartee’s mother came to him with a major surprise: she had found his acceptance and award letters to the University of Illinois at Chicago (UIC). With a tuition that was significantly less than his school in Texas, Bartee’s mom urged him to attend UIC instead. But Bartee was stubbornly set on going to Texas, which led them to frequently butt heads.

“It was hard for me to accept that I couldn’t actually go anywhere I wanted… [and] how expensive it was to go out of state.”
Bartee Taylor

Bartee’s Moneythink coach worked with him to ensure he understood the full extent of his decision to attend school in Texas. His coach warned him of the potential financial risks it could pose. “My coach wouldn’t let the problem escalate,” Bartee said. “They were like ‘if you want to do that [go to school in Texas], then do that,’ but they were very helpful in guiding me on what I should do.”

Eventually, after some long and often frustrating talks with his parents and Moneythink coach, Bartee decided to go to UIC. “I realized my parents would struggle to pay for my education if I went out of state. I have five younger siblings. I just thought it was too selfish of me to make my parents pay so much for me knowing that they have other kids to take care of.”

These sentiments of ownership and guilt about the potential financial burdens of higher education are all too often felt by students across the country. In fact, 40% of students who choose not to go to their first-choice school do so because of cost related reasons.

Back on Track Toward Student Success

When Bartee let his Moneythink coach know he was switching schools, he was surprised not only by how much his coach knew about the variety of his financial options, but also how quickly they were able to come up with a new financial plan. In fact, his Moneythink coach discovered that because he was commuting to school instead of living on campus, Bartee would actually receive a refund on his financial aid. By choosing to go to UIC instead of Texas, Bartee had effectively closed his potential financial gap from $8,000 to $0. Realizing he wouldn’t be in debt for school was a positive step forward in his student success story.

Although Bartee was initially uncertain about how he was going to pay tuition, by working with his Moneythink coach, his fears soon disappeared. “I didn’t have a plan. I was just like ‘Mama, can you pay this?’ That’s all I knew! But [my coach] helped me build a [financial plan] and it really helped, because I was stressing out about nothing! I was thinking, ‘how can I pay this?’ not knowing that I was actually getting money back from UIC. My coach helped me get to that.”

When Bartee was planning to go to Texas, he’d thought he was making the best decision available to him, but by working with his Moneythink coach, he was able to discover new pathways to college that he had never considered before. Bartee realized that his student success story could take different forms that were ultimately more beneficial to him and his family.

“My Moneythink coach knows what they’re talking about… It was like they could tell me what was going to happen before it actually happened.”
Bartee Taylor

Bartee is currently in his second semester at UIC studying nursing, and he is continuing to work with his Moneythink coach to ensure he is prepared for his coming second year.

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Student Success Series: Gabby Davis

Gabby sits outside of her school. She wears a black shirt.

Posted on 12.01.2017 by admin

Gabby joined Moneythink in January 2017 as a high school senior from Perspectives Leadership Academy in Chicago. She was part of the first cohort of students in Moneythink’s College Financial Coaching program. In early September, Gabby sat down with Moneythink staff to discuss her experiences with her Moneythink coach over the last few months. Her warm personality and diligent attitude were immediately apparent and amplified when you meet her in person.

The Beginning of Gabby’s Student Success Story

Ever since Gabby was little, she knew she wanted to attend college.

“I was always telling my mom, ‘I wanna be a dentist, I wanna be a dentist!’” Both her parents were college graduates. Gabby knew college would not only help her get a good job, but also was a way to “do good for [herself] and her future.” However, she also knew that paying for college was going to be a large obstacle. “It was hard finding a good college because you need money to go out of state, and I didn’t have scholarships at the time, so I knew I was going to go to a community college first no matter what.”

Gabby began looking at community colleges in Chicago and was drawn to a college because of its dentistry program. With help from her school counselors and mother, Gabby applied and was accepted. However, it was her Moneythink coach that kept her on track throughout the summer, a time when many students run into problems that can derail their college plans.

Up to 40% of students who intend to go to college never show up on the first day. The causes are often small and avoidable.

Over the summer before college, students are asked to complete a number of complicated tasks. This is a time when they have very little access to support from a high school counselor. Researchers call this phenomena “summer melt.” Unfortunately, the complications Gabby ran into are incredibly typical.

Running into Complications

Gabby is a recipient of the Star Scholarship, a scholarship offered to high-achieving Chicago Public School graduates that allows them to pursue an Associate’s Degree completely free of cost. However, Gabby had trouble receiving her scholarship on time. She worked with her Moneythink coach, Miesha, to figure out what was wrong. Miesha helped guide her through each of the steps she needed to take to get the issue resolved.

“Miesha was telling me where to go and… basically guiding me to ask my advisor questions I never thought to ask. She gave me things to think about that I needed to know in order to be successful.”
Gabby Davis

Orientation dates were passing by and classes were beginning to fill up quickly; but without her scholarship, Gabby was unable to complete any of her summer tasks.

After checking to make sure her FAFSA documents were accurate, Miesha encouraged Gabby to call the college’s financial aid office. It took five attempts to get somebody to answer the phone. Even then, the financial aid officer couldn’t provide an answer to why her scholarship was not going through.

Determined to figure out the issue, Gabby went down to the campus’ financial aid office herself. She learned that because she had taken a class at a different city college in the spring, the system still had her enrolled there. This meant she couldn’t receive her scholarship or even enroll in her classes until the issue was fixed. Because of Gabby’s Moneythink coach pushing her toward student success, Gabby was able to fix the situation.

Gabby was proactive in arranging a meeting. As a result, the school was able to correct the mistake within the week, process her scholarship, and register her for orientation.

One small glitch in the college’s system required multiple phone calls, emails, and an in-person visit to resolve — this is the kind of seemingly small detail that could result in a student never making it to the first day of college.

By nudging Gabby to stay on top of her summer tasks, her Moneythink coach was able to not only help her navigate the complicated process of receiving her financial aid, but guide her on the path to student success. Moneythink’s coaching program also gave Gabby the confidence to be proactive about finding the right campus resources that could provide support.

“We don’t know each other personally, so for [Miesha] to tell me ‘you can do it’ and believing in me… it just really gave me a feeling like ‘they believe in me, so I should believe in myself and that I know I can do it and I can get far.”
Gabby Davis

After receiving her Associate’s Degree in Dentistry, Gabby plans to transfer to University of Illinois at Chicago to pursue her Bachelor’s, and is continuing to work with her Moneythink coach to ensure she stays on track.

Be a part of the solution by making a donation, referring a partner, or becoming a corporate contributor.

Our History: How We Use Education-Technology to Inspire Change

Student holds mobile device with Moneythink app on the screen.

Posted on 12.01.2017 by admin

In the midst of the 2008 economic collapse, a group of University of Chicago undergraduates saw the opportunity to improve the economic state of their community by providing basic personal finance lessons to students from surrounding Chicago high schools. The undergrads started a club to recruit, train, and place college mentors in local high schools to teach about saving, budgeting, and the importance of financial planning for college and beyond. As students reported back incredible stories about how their newfound understanding of money was helping them in their first jobs and freshman year of college, college volunteers at other universities began using the model to found identical clubs on their campuses. By the fall of 2011, Moneythink had grown organically from a University of Chicago student organization into a 501(c)3 nonprofit volunteer movement on two dozen campuses across the country with a focus on using education-technology to help students make informed financial decisions, especially around college enrollment.

In 2012, Moneythink was awarded the White House Champions of Change award from then President Barack Obama, and raised initial seed funding from the Blackstone Foundation, Ariel Investments, the Lefkofsky Foundation, the Hughes Foundation, Nielsen, and others, to form a central headquarters that could provide strategic direction for the grassroots movement.

Since then, Moneythink has become a leading organization in the financial capability field. In 2013, collaborations with the Center for Financial Services Innovation (CFSI) and IDEO.org brought financial education out of the classroom and into the real world via our mobile application, MoneythinkMobile. This pioneering education technology application used social media to flip the typical financial behaviors of teens by “instantly gratifying delayed gratification decisions” through likes and comments.

MoneythinkMobile was the first of several education technology iterative experiments on our relentless ambition to discover and prove effective and meaningful applications of financial education. Blended learning technologies, behavioral science, and human-centered design have fueled Moneythink’s innovation engine and helped us achieve meaningful results repeatedly in the classroom, workforce, and college matriculation settings.

MoneythinkGoals: a mobile saving goals application coupled with our Youth Employment Curriculum to help students save their paychecks for the future.

Moneythink College Calculator: web-based application used in conjunction with our college persistence curriculum to help students compare and contrast their college options.

The power of human-centered design — a concept we absorbed from our friends at IDEO.org — is that you learn to listen to your beneficiaries and design your solution for what they need.

As we listened to our students from 2012 to 2016, we realized that the transition to postsecondary life — specifically getting a job and affording college — was the greatest area of stress and concern for students.

Thus, in 2016, we launched a research study to educate ourselves on the financial obstacles that first-generation, under-resourced college students face. We interviewed 93 students at 7 different university campuses across the US. They showed us the strong influence financial (in)security has on a student’s likelihood to successfully persist through college and the clear need for under-resourced youth to receive support and guidance when facing important fiscal decisions. Since then we have sought out to design a program that specifically addresses the financial stresses that surface during this influential period in a student’s financial capability development.

Moneythink’s College Financial Success program uses the most effective aspects of our programming — high-touch mentorship, technology, and curriculum — and brings it directly to the student’s fingertips. Our Moneythink Coaches utilize a web-based text-messaging platform to assist under-resourced, college-bound young adults navigate the financial decisions that occur between the beginning of their senior year of high school and the end of their freshman year of college.

We’re able to be there for students whenever and wherever they need us most: outside of the classroom at the exact moments when they’re making some of their most important life decisions.

Since launching our College Financial Success program in the fall of 2016, we have reached 1,080 students in Chicago, Los Angeles, and the Bay Area, and our coaches have sent and received over 51,000 text messages. Our students come to us with questions that range from something as simple as “how do I get to campus?” to as complicated as “how do I know if I’ve been chosen for FAFSA verification?”

More often than not, a student’s Moneythink coach is the only person they have available to discuss their college and financial issues, thus it is imperative that we are so easily accessible whenever these questions arise.

With an unprecedented model, Moneythink is able to meet students where they are to provide the most effective resources and guidance with the highest potential for impact. When students are navigating the FAFSA process, choosing between scholarship opportunities, or even just organizing required health forms to send to the school, a student’s coach is available right at their fingertips to answer questions and demystify the college process.

We walk alongside students in high school, leading up to college, and throughout their freshman year, helping to connect them to the best support and local resources available to keep them on the path to graduation.

And the journey is just beginning.

Be a part of the solution by making a donation, referring a partner, or becoming a corporate contributor.