Juniors and seniors at Shroder High School are the first in the nation to receive online education on finance and entrepreneurship through a new partnership with Fifth Third Bank. Shroder received a $10,000 technology grant to fund its Finance Academy.
Fifth Third and EVERFI created Finance Academy as an interactive online development tool to help teens better understand how to manage their money and how to become an entrepreneur.
The program is an extension of Fifth Third's $30 billion Community Commitment Plan — it's part of Fifth Third’s Lives Improved Through Financial Empowerment, or L.I.F.E., program.
Launched Oct. 16, the program will teach students about a variety of elements, including banking and investing in their future.
“We're helping young students learn those basic skills in high school,” says Fifth Third spokesperson Brian Lamb.
The program will be offered in class, and students will be able to use their mobile devices to complete the program. There will also be business classes that will focus on building capital, hiring and managing a budget.
One of the guest speakers, former Bengals player Dhani Jones, illustrated to the students how he was not one of the 80 percent of NFL players that have gone broke.Dhani Jones
"They understand the value of the game," says Jones, "but they don’t necessarily understand the value of the dollar.”
Jones says that understanding the value of money and guidance all comes from teachers and education. “If you don’t take the proper planning, have the proper mindset and understand the direction of where you’re going to go, then you’re going to be lost."
Shroder faculty members will be able to track each student's score reports and help guide them to a path of success.
“There are a lot of finances when it comes to college, like getting loans," says student Mikaela Wormley. "I feel like if we know what to do now, you have a step above everyone else when it comes to college, and then after college and knowing which job to choose versus the benefits."