New Research Confirms Positive Impact of OneMain's BUILD Credit Education
NEW YORK, March 7, 2024 /PRNewswire/ -- New research released today shows that students who took OneMain Financial's proprietary credit education course for high school students – Build: Credit Fundamentals – demonstrated significant improvement in understanding the importance of building and maintaining good credit, critical skills in successfully managing finances.
"The Importance of Credit-Based Education for High School Students," developed by EVERFI from Blackbaud, the leader in powering social impact through education, details the impact that Build has had on students since its inception in August 2022. The research, which followed the progress of 17,000 high schoolers who took the course, shows that OneMain's Build course has used evidence-based approaches to improve credit knowledge for high school students nationwide.
"Educational programs that focus on knowledge gains and attitude shifts are essential for creating the roadmap for future behavior change, and that is exactly the result we have seen with our Build course," said Paola Garcia Abbo, OneMain's Head of Impact. "This is further evidence of how OneMain's curriculum empowers young people with the skills necessary to navigate their financial futures successfully."
Key takeaways from the research include:
- When measuring knowledge gained from taking the Build course, students showed a 43% increase in their understanding of acquiring credit, a 40% increase in understanding the impacts of increased credit usage, an impressive 126% increase on the topic of managing credit and a 98% increase regarding addressing issues with credit.
- Regardless of the students' socioeconomic backgrounds, all surveyed students saw comparable gains in knowledge and healthy financial perspectives.
Build is one of the four digital courses offered in the Credit Worthy by OneMain program at no cost to schools. All four courses are available in both English and Spanish. Build is designed to help high school students develop healthy credit habits early and understand topics such as growing and managing credit and addressing issues and inaccuracies in their credit record.
Since its inception, Credit Worthy by OneMain has reached more than 3,600 high schools and more than 300,000 students across all 50 states, Washington D.C., and Puerto Rico. In addition to Build, the curriculum covers financial basics, entrepreneurship, and preparing for college or careers after high school. OneMain also offers the Credit Worthy Family Resource Center and is funding $300,000 in scholarships for students participating in Credit Worthy by OneMain.
About OneMain Financial
OneMain Financial (NYSE: OMF) is the leader in offering nonprime consumers responsible access to credit and is dedicated to improving the financial well-being of hardworking Americans. We empower our customers to solve today's problems and reach a better financial future through personalized solutions available online and in 1,300 locations across 44 states. OneMain is committed to making a positive impact on the people and the communities we serve. For additional information, please visit OneMainFinancial.com.
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SOURCE OneMain Holdings, Inc.