Educational technology has been gaining popularity in recent years, and Indiana University Online is taking advantage of this trend. The public University is partnering with iGrad, a San Diego-based financial technology company, to provide an AI-powered financial wellness platform to its 8,000 online degree students.
iGrad’s platform includes comprehensive, customized, and interactive information on everything from building and maintaining good credit to budgeting, money management, student loan/debt management, and calculators. The platform serves as an invaluable resource for students, alumni, staff, parents, and families to make informed personal finance, student loan, and career decisions. At present, iGrad services over 2.7 million students at 650 colleges and universities, 20,000 employers, and 300 financial institutions.
Director of Enrollment Management & Student Services at Indiana University, Whitnie Powell, spoke about the platform: “Financial literacy goes beyond understanding the impact of a student’s financial investment in their education. For many of our online students, IU Online is only one chapter of their story, and we wanted the ability to provide them with an always-on free resource to support their overall financial wellness. Our goal is that iGrad is a complimentary addition to our wrap-around support portfolio with which our online students have meaningful engagement.”
Using artificial intelligence and proprietary algorithms, iGrad personalizes financial information for each user’s unique situation and needs. The platform offers tools, quizzes, videos, articles, and multimedia content, as well as a student loan tracking tool that aggregates student loan balances and estimates monthly payments. iGrad can even provide interactive educational content on topics such as retirement and mortgages.
Research has shown that student financial literacy programs like iGrad can decrease financial stress, improve academic performance, and teach students how to manage their finances for a lifetime. Vice President of Business Development of iGrad, Donna Miller, commented: “Students, colleges, and universities are facing tremendous financial challenges that impact enrollment, graduation rates, and the level of student loan debt, which is already the second-largest category of debt in the country. Indiana University Online has prioritized student financial literacy, and we are thrilled to be a key part of their efforts.”
Indiana University’s online courses and programs are designed to be innovative, engaging, and rigorous. The University leverages the unique expertise of each campus to provide a range of wrap-around support services for its online students, which now includes iGrad’s financial wellness platform.
iGrad is a 100% focused on improving financial capability, and strives to exceed all expectations in every partnership. The company currently works with public and private colleges and universities of all sizes, including Wake Forest University, the University of North Georgia, Emerson College, and Cleveland State University.
Educators and administrators now have an invaluable resource to help their students build financial literacy and prepare for their financial futures. With iGrad’s platform, teachers can equip their students with the necessary tools and knowledge to make informed decisions and manage their finances responsibly.
