OneMain Financial Introduces Money LaunchPad, a New Financial Education Program for High School Students in Five States Across the Country

Rhea-AI Summary

OneMain Financial has launched Money LaunchPad, a personal financial education program for high school students in California, Texas, Ohio, North Carolina, and Pennsylvania. Developed in collaboration with EVERFI, the program covers essential topics like budgeting, credit management, and financial literacy. CEO Doug Shulman emphasizes the company's commitment to improving financial well-being. The initiative includes employee volunteer opportunities and offers real-time performance tracking for teachers. As states increase financial literacy requirements, this program aims to equip students with necessary financial skills.

Positive

• Launch of Money LaunchPad enhances financial literacy education for high school students.
• Collaboration with EVERFI strengthens community engagement and educational impact.
• Real-time tracking for educators will improve student learning outcomes.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- OneMain Financial, the country’s largest near-prime installment lender with a mission of improving the financial well-being of hardworking Americans, today announced the start of Money LaunchPad by OneMain, a new personal financial education program that teaches basic financial capability skills for students in grades 9 to 12. The course, which will debut in California, Texas, Ohio, North Carolina and Pennsylvania, was created with the nation’s leading social impact education innovator, EVERFI, Inc.

The program features an interactive learning platform designed specifically to translate financial concepts and introduces the basic financial capability skills needed as high school students transition into adulthood. Topics include banking basics, income and employment, budgeting, consumer skills, managing credit and debt, financing higher education, insurance and more.

“Money LaunchPad by OneMain is the latest step in our company’s commitment to improving the financial well-being of Americans, and will strengthen our efforts to promote financial wellness for people of all ages,” said OneMain Chairman and CEO Doug Shulman. “By teaching high school students about foundational topics and helping them develop strategies for managing their finances, these courses will enable a better future for students long after they leave the classroom.”

"The need for equal access to financial education has never been greater than it is now, and we are proud to work with OneMain Financial as they deepen their investment in financial capability, volunteerism, and social impact in the communities they serve," said Ray Martinez, President and Co-Founder, EVERFI. "OneMain's program will provide fundamental resources and tools to high schools to address this missing learning layer while also helping students start on the right path to achieving financial wellness. With their commitment, students around the country will receive the critical skills education needed to make responsible financial choices for the rest of their lives.”

Through this initiative, OneMain employee volunteers will engage with partner schools and teachers to create opportunities that serve as an extension of the digital education courses they are providing to their students. With both virtual and in-classroom opportunities, employees will collaborate with teachers to enhance in the curriculum, lead financial wellness activities and participate in career readiness panels.

The Money LaunchPad by OneMain platform will offer detailed, real-time data and reporting for teachers to track the progress, performance and knowledge gains of every student. As more states require financial literacy courses in schools, Money LaunchPad by OneMain will fulfill those requirements while teaching high school students how to make smart financial choices that promote financial well-being over their lifetime.

About OneMain Financial

OneMain Financial (NYSE: OMF) is the country’s largest near-prime installment lender, with a mission of improving the financial well-being of hardworking Americans. With approximately 1,400 locations throughout 44 states, the company is committed to helping people with their personal loan needs. OneMain and its team members are dedicated to the communities where they live and work. For additional information, please visit OneMainFinancial.com.

About EVERFI, Inc.

EVERFI is an international technology company driving social impact through education to address the most challenging issues affecting society ranging from financial wellness to mental health to workplace conduct and other critical topics. Founded in 2008, EVERFI’s Impact-as-a-Service ^TM solution and digital educational content have reached more than 41 million learners globally. In 2020, the company was recognized as one of the World’s Most Innovative Companies by Fast Company and was featured on Fortune Magazine’s Impact 20 List. The company was also named to the 2021 GSV EdTech 150, a list of the most transformative growth companies in digital learning. Some of America’s leading CEOs and venture capital firms are EVERFI investors including Amazon founder and CEO Jeff Bezos, Google Chairman Eric Schmidt, Twitter founder Evan Williams, as well as Advance, Rethink Education, Rethink Impact, The Rise Fund, and TPG Growth. To learn more about EVERFI and how you can #answerthecall, please visit everfi.com or follow us on Facebook, Instagram, LinkedIn, or Twitter @EVERFI.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210825005477/en/

Sarah Schwartz

OneMain Financial

Sarah.Schwartz@omf.com

Jennifer Edgerly

EVERFI

jedgerly@everfi.com

Source: OneMain Financial

FAQ

What is the Money LaunchPad program by OneMain Financial?

Money LaunchPad is a personal financial education initiative for high school students, covering topics like budgeting and credit management.

Which states will benefit from OneMain Financial's Money LaunchPad?

The program will initially launch in California, Texas, Ohio, North Carolina, and Pennsylvania.

Who partnered with OneMain Financial for the Money LaunchPad program?

OneMain Financial partnered with EVERFI to develop the Money LaunchPad financial education program.

What topics are included in the Money LaunchPad curriculum?

Topics include banking basics, budgeting, managing credit and debt, and financing higher education.

How will OneMain Financial engage with schools through Money LaunchPad?

OneMain employees will volunteer to enhance the curriculum and lead financial wellness activities in partner schools.