Employee Voice Series: Elizabeth’s Success Story

Posted on 08.01.2018 by admin

By Elizabeth

As a first-generation college graduate, I feel a deep connection to the work we do at Moneythink. The students we help are smart, hard-working, responsible, and strongly committed to getting a solid education despite their odds. I love that our work helps to address the problem of unequal access to education in our country by providing personal support to students. I believe in using my experiences to help guide students’ success stories.

My Beginning

I grew up in a small town in Oregon with limited educational opportunities. I was raised by an incredibly resourceful single mother who worked and saved to provide for her four children.

With the support of my older brother, I moved to a bigger city where I attended community college while working two part-time jobs. When I see our students managing work and school — as well as family responsibilities — I empathize with the everyday stress they experience and the strain this can have on their academic success stories.

I understand first-hand the challenges that face our students, many of whom don’t have the same financial and social advantages as their well-resourced peers.
Elizabeth

My College Experiences

With support and encouragement from my community college professors, I transferred to Amherst College in Massachusetts in just a few years. I was very lucky that Amherst has numerous resources for first-generation and transfer students.

However, I was far from home. It was my job to make financial and academic decisions largely on my own. When I see the confusion my students have about how to talk to their professors or how to make sense of their financial aid awards, I understand all too well. By providing guidance when they experience similar confusion, Moneythink is filling a huge gap in our students’ lives and guiding them on the path to success.

Working with Moneythink

Before becoming a part of this amazing team, I had worked for several years in different areas of education. Throughout my professional life, I’ve always been excited about supporting youth and improving education.

What drew me specifically to Moneythink is the opportunity to work in a small but powerful organization that is focused on well-developed, creative solutions to removing barriers to higher education.

I carry such a strong connection to our mission, and I love our approach. We work with students who already have the will to go to college, but who just need that extra help with designing the way.

As far as I’m concerned, there is no good reason why students should ever drop out of college due to a lack of access to sufficient information or support networks.
Elizabeth

Moneythink is addressing this issue by providing exactly the kind of timely, highly-focused support that students need when navigating their journeys to and through college.

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

Designing Conversations that Lead to Action

Posted on 04.25.2018 by admin

At Moneythink, we empower under-resourced students by supporting financial decision-making through coaching and technology. Our coaches message students over text — giving rapid access to quality support. We have spent years working with students and we have learned about the art of designing conversations with them that lead to positive, empowered action on their college journey.

Why Designing Conversations is Important

These are the kinds of text messages we get daily.

Only 9% of low-income students receive their college degree within four to six years. The main barrier to a degree is money. Low-income students are left on their own to navigate complex financial aid systems and make some of the biggest financial decisions of their lives.

Because of warm-fuzzy texts like this (and the results of qualitative and quantitative data analysis), we are gaining confidence in our hypotheses about the best ways to give students more confidence, more financial security, and less stress. Over the past year of texting, we have honed in on a set of principles that guide the experience and voice of our coaching.

Our Guiding Principles

In this share-out, you will find just a few of some of our most powerful and, sometimes, non-obvious principles for designing conversations. You might find these particularly interesting if your team is designing…

For a chatbot, human-powered messaging service, or a hybrid,
A coaching service (especially in health or finances),
For under-resourced populations that face scarcity,
Interventions for behaviors that have low desirability (getting people to do something they don’t want to do).

Under-resourced students already experience scarcity of time, money, calories, sleep, and sometimes even shelter. Their cognitive bandwidth is spent mentally managing these resources.

We identify the most critical financial barriers on the pathway to college and do everything we can to minimize those barriers for the student.

The problem is not in cultivating an intention to be financially responsible, it is in the intention-action gap. Designing interactions that de-bias the student’s context (rather than focusing on persuading the student to push through the barriers) recognizes and respects the real scarcity that the student faces and meets them where they are at.

Don’t wait for a student to guide the interaction, share goals, or suggest deadlines.

Recommend to the student the goal they should be working on next and default them into a deadline.

Thinking about what to ask a coach or when to get something done requires a lot of cognitive load that can quickly exhaust an over-burdened student. By using defaults, we minimize the friction to setting goals.

Make it just as easy for a student to communicate wins.

Never ask a student to answer a question where their answer makes them reflect negatively on their self-identity.

Making responses like “trying to find time to do it” as equally valid as “completed it,” recognizes the real struggle of navigating and completing these complex financial processes. Just allocating time and attention is progress.

Nudge the student to complete a reasonable, small task and provide the support and information they need to complete the task.

Providing information alone (even if well-organized) is often intimidating and only empowers the students with the bandwidth resources to self-navigate the information.

Use behavioral science levers to instill a sense of urgency. For example:

Defaulting students into deadlines that are three to five days away as opposed to weeks away (limited attention)
Suggesting that recommended behaviors are a norm of their peers (social proof)
Making long-term negative consequences tangible in the immediate to trigger FOMO (loss aversion).

With preventative interventions, students are not facing painful consequences in the immediate and may not feel urgency to engage. Leaning on subtle behavioral levers spurs students to take the desired action early and leaves them feeling more confident about their financial health.

Designing Conversations: Principles

Good principles are ones that the team uses actively.

Principles feel the most helpful when they are specific and speak to how to handle trade-offs. Jared M. Spool wrote a great article on “Creating Great Design Principles.”
Leverage behavioral science — especially if you are designing for behavior change. Check out ideas42’s list of behavioral principles to get started.
Just start! Let your principles mature as you regularly use them and iterate. The list of principles we have now are non-obvious — they have come from tons of exposure hours texting and talking with our students.
Remember that the goal of developing principles is not to have a perfect, finished artifact.
The goal is to enable the team to have a common language for weighing design possibilities in a way that stays grounded in our user’s reality.
Good design principles enable healthy discourse and are owned and contributed to by everyone who has a hand in building the user experience.

Working on something similar? Reach out and tell us about it. We love to learn with others.

Learn more about Moneythink’s approach to design and reach out to say hello! Transformative progress requires leaders in technology, data, and design to work together. We work out of San Francisco & Oakland and we love making friends with other humans who believe in the power of design and are obsessed with building a more equitable future.

Employee Voice Series: Juan Cortes

Posted on 03.23.2018 by admin

By Juan Cortes

Growing up, my parents always told me that I had to go to college, but they never said how I was going to pay for it. By the time I reached my senior year of high school, my sister was already in college, so I was lucky to have her to guide me through the FAFSA process. But grants and federal aid could only cover so much; in order to avoid taking on any debt, I had to take the community college route instead.

Even though I did not have to take out loans, my community college’s remedial courses were always overfilled and hard to get into due to the limited spots available.
Juan

The limited space in classes prolonged my time in college, and I had to go through junior college for three and a half years, instead of the two years people expect you to do before you transfer to a four-year university. During this time, I worked as a busser and a waiter, saving my money for when I transferred to a four-year school. Since I didn’t know how to find scholarships, I paid my tuition and school costs out of my own pocket with the money I earned from working.

However, whenever my friends and I got together during school breaks, their incredible stories and experiences about college life made me feel like a disappointment who was left behind.

As they were working towards their future careers, I was cleaning dishes and taking remedial courses. These feelings of insecurity pushed me to work hard on transferring to my dream school that nobody thought I could get into: UC Berkeley.

The Next Step

When I transferred to Cal in the Spring of 2013, I felt so out of place. Everyone in the dorm was significantly younger than me, and I had to take out loans for the first time. While other students knew how to find grants and scholarships to fund their study-abroad programs and unpaid internships, I continued working in restaurants and focused on studying. I budgeted my earnings and saved as much as I could so I didn’t have to worry about dropping out.

My hard work paid off, and I got to walk in the Winter graduation of 2014: I was a college graduate!
Juan

However, due to one of my credits not transferring from junior college — a fact that my counselor failed to point out to me until three days before the Spring semester began — I had to come back for another semester I had never planned for. For just this one credit, I ended up having to take out the most debt I had ever had.

This left me crestfallen, but — like I have done my entire life — I persevered and pushed myself to work harder.

This experience made me realize that colleges and universities, despite providing numerous resources and support systems, do not effectively advertise to students the resources that are available. This is especially problematic when it comes to students who are first-generation and have no example in their life of someone who has gone through college and can explain how to navigate its bureaucracies.

Moneythink and Me

A few years later, when I found Moneythink, I saw how their coaching team reaches out to students who went through the same experiences that I had.

Moneythink connects students to resources on their campuses, helps create financial plans so students can manage their finances in college, and provides a support system to check in on students who may be too afraid to ask for help for fear of being chastised for not knowing something they would have no experience of. Moneythink’s mission to help first-generation, low-income students obtain an education is why I decided to join their coaching team and dedicate myself to helping students achieve their dreams and make an equitable future for America through education.

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

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.

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.

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

Same Drive, New Directions

Posted on 12.03.2017 by admin

Dear Moneythinker,

We founded Moneythink in 2008 to bring personal financial skills to under-resourced teens a few blocks away from our college campus.

Since then, we have helped over 14,000 students in 30 communities nationwide track their spending, open bank accounts, achieve savings goals, budget for college, and believe in themselves.

Two years ago, we decided we wanted to take our impact a step further to drive life-changing outcomes for our students. So, we interviewed 93 first-generation college students to learn how financial stress was endangering their dreams. And what they told us inspired us to think about our impact in an entirely new way.

See, one of the biggest financial decisions a student will ever make is where to attend — and how to afford — college. But for students in the communities we serve, guidance on the most critical and financially complex aspects of these decisions is often lacking. As a result, millions of students stop out of their postsecondary journey every year for financial reasons and all too often, end up with debt but no degree.

We’ve met the students. We’ve seen their challenges. We know their potential.

And we believe that the higher education system is failing them.

But we also believe that many of the financial challenges students face in college can be prevented upstream. So we are setting out to eradicate financial stress as the leading cause of college attrition.

As the first step toward that better future, we’re bring financial coaching to students’ fingertips over SMS — for free. Check out our new website to learn more, and follow us on social to grow with us.

It’s going to be an exciting next few years.

Onward!

Ted Gonder
Co-founder and CEO, Moneythink

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.