Elevate Credit Announces RISE Scholarship Recipients

Rhea-AI Summary

Elevate Credit (NYSE: ELVT) has awarded the RISE Financial Progress Scholarship to five students, each receiving $3,000. This scholarship aims to enhance financial literacy among high school students, with over 1,000 applicants this year. Each recipient completed an online financial literacy course and submitted an essay on applying the knowledge gained. The program, introduced to foster financial skills for future generations, emphasizes the importance of making sound financial decisions. Elevate has originated $9.2 billion in non-prime credit to over 2.6 million consumers.

Positive

• Successful award of $15,000 in scholarships to five students enhances company's reputation.
• More than 1,000 applicants demonstrate strong engagement with RISE's financial literacy initiatives.
• Scholarship aligns with Elevate's mission to improve financial education among non-prime consumers.

Negative

• None.

High school students awarded for efforts to improve financial literacy

FORT WORTH, Texas--(BUSINESS WIRE)-- Elevate Credit, Inc. (NYSE: ELVT) (“Elevate”), a leading tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, today announced that its largest consumer brand, RISE, has named recipients of the third annual RISE Financial Progress Scholarship. The five students selected were awarded $3,000 each and attend colleges and universities across the United States.

The RISE Financial Progress Scholarship was created to help hardworking students reach their dreams while also teaching them about the tools needed to achieve long-term financial success. This year’s scholarship program included more than 1,000 applicants. Each student completed an online financial literacy course and submitted an essay detailing how they plan to implement the course material in their personal lives. Scholarship recipients were selected based on a demonstrated desire to improve their financial knowledge and educate others about personal finance. Recipients may use the scholarship funds to help pay for educational expenses, including tuition, fees, housing, and textbooks.

“We instituted this scholarship program to arm future generations with the skills and tools they’ll need to make sound financial decisions for years to come,” said Elevate CEO, Jason Harvison. “It is never too early to instill smart habits and encourage dialogue around financial wellness.”

This year’s recipients of the Rise Financial Progress Scholarship are:

Tatum Lonack, Virginia Tech

Vivian Starcheus, University of Toledo

Rachel Swick, SUNY College at Brockport

Kaiden Forest, Washington State University Vancouver

Abby Golik, Linfield University

About RISE

Designed for the millions of non-prime Americans who may not have access to traditional sources of credit, RISE not only provides access to credit, but its responsible lending features are also designed to help customers meet their immediate financial needs and improve their long-term financial futures. These features include fast credit approval, flexible loan terms, lower rates than other non-prime lenders, rates that can go down over time, credit bureau reporting, free credit score monitoring and financial literacy courses.

About Elevate

Elevate (NYSE: ELVT), together with its bank partners, has originated $9.2 billion in non-prime credit to more than 2.6 million non-prime consumers to date and has saved its customers more than $8.5 billion versus the cost of payday loans. Its responsible, tech-enabled online credit solutions provide immediate relief to customers today and help them build a brighter financial future. The company is committed to rewarding borrowers’ good financial behavior with features like interest rates that can go down over time, free financial training and free credit monitoring. Elevate’s suite of groundbreaking credit products includes RISE, Elastic, and Today Card. For more information, please visit http://www.elevate.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211005005364/en/

Investor Relations:

Solebury Trout

Sloan Bohlen, 817-928-1646

investors@elevate.com

or

Media Inquiries:

Solebury Trout

Laurie Steinberg, 845-558-6370

lsteinberg@soleburytrout.com

Source: Elevate Credit, Inc.

FAQ

What is the RISE Financial Progress Scholarship awarded by Elevate Credit?

The RISE Financial Progress Scholarship awards $3,000 each to selected high school students to promote financial literacy.

How many students received the RISE Financial Progress Scholarship in 2023?

In 2023, five students received the RISE Financial Progress Scholarship.

What are the eligibility criteria for the RISE Financial Progress Scholarship?

Students must complete an online financial literacy course and submit an essay on implementing the course material.

How much total funding was awarded through the RISE Financial Progress Scholarship?

A total of $15,000 was awarded through the RISE Financial Progress Scholarship.