Game Changing Financial Education: The Story of Salt

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At the 2012 Face of Finance Conference, at Bentley University, in Waltham, MA, Kathleen Burns Kingsbury (KBK Wealth Connection), Sue Burton (American Student Assistance), and Michal Pasternak (HUGE) presented "Game Changing Financial Education: The Story of Salt".

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Game Changing Financial Education: The Story of Salt

  1. 1. GAME CHANGINGFINANCIALEDUCATION –THE STORY OF SALT
  2. 2. SALT STORYTELLERS •  Sue Burton •  Jennifer Scott •  Kathleen Burns Kingsbury •  Michal Pasternak2 SALT CREATED BY AMERICAN STUDENT ASSISTANCE
  3. 3. THE ASA MISSION To assist students and parents in successfully completing a program of higher education financing and repayment.3 SALT CREATED BY AMERICAN STUDENT ASSISTANCE
  4. 4. THE GAME WE’RE OUTTO CHANGE •  $1,000,000,000,000 •  600% •  1>13 •  50%4
  5. 5. WE HELP STUDENTSAND ALUMS •  Borrow less •  Borrow wisely •  Repay successfully5
  6. 6. THERE IS NO SUCH THING AS A “TYPICAL COLLEGE STUDENT” Many members are taking a less traditional path to getting their degree, with some starting a family before pursuing their degree, and others living with parents to ease their financial burden. More  students  are  taking  on  full   Only  25%  of  students  plan  to  live  on  a  college  campus   responsibility  for  their  debt:   during  the  upcoming  school  year,  while  another  25%   say  they  will  be  living  with  a  parent  or  guardian.     45%  of  members  are  100%   responsible  for  their  student   loans.   41%  of  members  are  first   genera?on  college  students.   44%  of  recent  graduates   67%  of  current  students  plan  on  working  at  least  one  job   have  a  full  ?me  job.   while  they  a>end  classes  during  the  upcoming  school  year.  6
  7. 7. JENNIFER SCOTT,STUDENT
  8. 8. KATHLEEN BURNSKINGSBURY,FINANCIAL PSYCHOLOGYEXPERT
  9. 9. CHANGING FINANCIAL HABITS10
  10. 10. THE SALT GENERATION •  How users think •  How users learn •  What is the user’s life stage11
  11. 11. MICHAL PASTERNAK,USER EXPERIENCE
  12. 12. USER RESEARCH
  13. 13. AVOIDING THE ISSUE
  14. 14. MAGICAL THINKING
  15. 15. MEETTYLER.21, Senior$72,000 of student loan debt“Ill have a lot of debtwhen my I have to payback my loans.But thats not for a while.”
  16. 16. MEETKENDRA.20, Junior$5,000 of student loan debt“Im good at finding theinformation I need, butIm not always sure Ican trust it.”
  17. 17. OUTCOMES
  18. 18. OUTCOMES MeasurementOutcomes MEASUREMENT Measured implicitly and explicitly through the use of market research surveys, site statistical tracking, and gamification tools. Behavior Change Knowledge Awareness Competency Attitude Change Mastery22
  19. 19. MEANINGFUL GAMIFICATION SALT will use game mechanics in a meaningful way to enhance engagement throughout the cycle of Adult Learning Theory. Putting Event Needing Seeking Discussion and Learning Into Education Education Reflection Practice23
  20. 20. DISCUSSION IS CRITICAL TOLEARNING & RETENTION •  Cultivate a Community of Experts   Experts Teach     •  Ongoing Peer 2 Peer Sharing Reinforces Users  “Do”  to   Peer  2  Peer/Share   Reinforce   •  Users who increase in contributions rise in rank Quizzes/Games   Reinforce  &  Add   •  Community Drives Utilization Fun   of Key Content and Tools24
  21. 21. SALT 360 EXPERIENCE25
  22. 22. THANK YOUSALT, bringing free financialeducation nationwide in 2013.www.saltmoney.org

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