NEFE is a leading organization in the field of financial education research and advocacy that incites growth, impact, and change to improve the effectiveness of financial well-being efforts. NEFE is currently Partnering with APA Consulting to conduct research in six states, including Utah, Maryland, North Carolina, Virginia, Wisconsin, and New Hampshire. This joint effort will examine the financial impact of the state’s graduation requirement and offer recommendations on how to improve upon the delivery of its requirement for the future financial well-being of K-12 students.

The ROI study will explore the cost of implementing financial education courses in the states and the specific corresponding financial returns of the graduation requirement. The research study will account for the multiple capital needs of the requirement, such as paying for teacher training, curricula, and other necessary resources vital for the successful implementation and maintenance of the financial education mandate. The study will examine any costs associated with implementing and maintaining the requirement incurred by school districts, counties, and municipalities. Additionally, the study will consider philanthropic investment, general state resources, and other fiscal sources utilized to sustain financial education. These input factors will estimate the annual amount of the financial education investment; they will be calculated alongside the output factors centered on the financial benefits to the learner and, more generally, the economic benefit to the community and state. This calculation will establish a foundational return on investment, providing policymakers with baseline data on the economic benefit of improved financial literacy of their constituency.

To conduct the ROI study, APA will reach out to two identified districts in each of the six states that represent a variety of geographic locations. The team will meet with various staff in person to gather the required ROI information.