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Doane University emphasizes experiential learning to equip students with practical skills, global perspectives, and a competitive edge in the job market. Their first-year experience program focuses on wellness dimensions, including financial wellness. However, effectively delivering financial education that students can absorb proves to be a challenge.

“Students struggle with finances and there is just so much they don’t know. Even if they had received the information, they haven’t had any practical application, so it doesn’t stick.” says Rhonda Lake, First-Year Advisor. Doane University’s programming and sports opportunities attracts students from across the country. The intent of the first-year experience is to acclimate them to college life and beyond, by giving them the tools they need for overall wellness. “Our students come to us with varying backgrounds and we want them to be able to find their full selves while getting their education, adds Lake. “Financial wellness plays a big roll.”

“Being a small university, our students are busy,” explains Lake. “Financial education is so important and has negative ramifications if mismanaged. We really wanted to be able to deliver programming that is engaging and less stressful. There’s a lot of information to deliver and it can’t be boring.”

Guest speakers and lecturers failed to capture students’ attention and provide usable knowledge. The Financial Aid department lacked the resources to dedicate to an annual program, prompting Lake to explore alternative options.

Financial Avenue was first used with a group of athletes that needed a flexible course. Lake says, “It was perfect because they could do it on their time.” Financial Avenue offers a self-paced, ten-course program with stand-alone modules that resonate with students and cater to various learning styles. Students can access the program through an app or website, benefiting from quick sound bites, dynamic videos, quizzes, social media sharing capabilities, and practical knowledge checks. “After seeing the results and hearing from the students, it just made sense that Financial Avenue was the program to complete our wellness experience,” says Lake.

Financial Avenue uses pre- and post-tests to help measure knowledge gain. “We require our students to take five of the courses of their choice and you know a program is working when their test scores increase about 35% on average. Some students even go beyond the five courses, because they are curious and it is fun, says Lake. “Psychology of Money is a favorite. Students really love thinking about money in that way.”

Financial Avenue’s ability to resonate with users stems from its design by a team of expert financial educators and instructional designers who prioritize long-term learning retention. The acquired knowledge translates into positive financial behaviors, equipping students with informed money management habits.

“We also asks students to rate the courses when they are done and out of all of our wellness courses, Financial Avenue always gets top scores,” says Lake.

Find out how Financial Avenue can enhance your students’ financial wellness. Contact your Business Development Representative.