Unlocking Financial Empowerment: UK Invests Transforms Student Futures
At the University of Kentucky, a groundbreaking initiative is empowering students to take control of their financial futures. UK Invests, a first-of-its-kind program, is equipping students with the tools and incentives to become healthier, wealthier, and wiser through financial literacy and investment opportunities.Investing in the Future, One Student at a Time
Cultivating Financial Wellness
UK Invests is a comprehensive program that goes beyond traditional financial education. By partnering with Fidelity Investments, the university is providing students with the resources and guidance to establish brokerage accounts and learn the fundamentals of investing. Through online iGrad courses and in-person workshops, students are gaining a deeper understanding of financial wellness, from budgeting and saving to making informed investment decisions.The program's innovative approach extends beyond the classroom, incentivizing students to engage in a variety of campus activities that contribute to their overall well-being. From attending mindfulness sessions and cooking classes to participating in peer tutoring and career-focused events, students can earn monetary rewards that are deposited directly into their UK Invests accounts.
Rewarding Healthy Habits
The program's unique structure encourages students to adopt healthy habits that not only benefit their academic and personal lives but also contribute to their financial future. By attending the campus recreation facility three times a week, students can earn an additional , further motivating them to prioritize their physical and mental well-being.The results of UK Invests have been remarkable. In the 2023-24 academic year, the retention rate of first-year students who participated in the program was an impressive 92%, compared to just over 84% for those who did not. Additionally, these students boasted higher GPAs, with an average of 3.3 compared to 3.0 for non-participants.
Empowering the Next Generation
UK Invests is not just about building financial literacy; it's about empowering students to take control of their futures. By providing them with the tools and incentives to save and invest, the university is setting them up for long-term success, both financially and personally."It's as simple as going to the gym three times a week and earning money, which is more motivation," says Silas Moffit, a first-year College of Nursing student. "Even though it's a small credit, that incentive has pushed me to make healthy choices."For Kylie Lessenberry, a first-year student majoring in elementary education and accounting, UK Invests has been a game-changer. "I had zero experience with investing, but the app taught me the basics — like what dividends are and how to make wise investment decisions," she shares. "I feel so lucky to have this opportunity to learn and grow early on."
A Transformative Investment
UK's commitment to its students' financial well-being is evident in the university's investment of over million in the UK Invests program, funded entirely through private and philanthropic support. This investment not only benefits the current student population but also sets the stage for future generations to thrive."When I talk about UK Invests to those who attend other schools, they're like, 'wait, they're giving you free money,'" Lessenberry says. "I would add, the opportunity is there, and all students should take it. You get rewarded to go to fun and useful events, and ultimately, it will also end up making you more financially literate for the future."As the University of Kentucky continues to lead the way in student-centric initiatives, UK Invests stands as a shining example of how higher education can empower the next generation to achieve greater financial security, career readiness, and overall well-being.
