Applicants will complete online financial education as part of the program
MINNEAPOLIS, Mar 25, 2015 (BUSINESS WIRE) — U.S. Bank, demonstrating its commitment to financial education, is offering current and prospective college students the opportunity to earn a $5,000 scholarship though the U.S. Bank Financial Genius Scholarship Program (#financialgenius). To participate, applicants are required to complete eight online learning modules that cover key concepts for building financial wellness.
“Financial education is essential in building healthy financial habits for life,” said Erica Opstad, vice president and head of financial education at U.S. Bank. “Last year, 15,000 students received critical financial education from U.S. Bank, and 99 percent said they felt ‘better prepared to make financial decisions.’”
The program will provide five students with $5,000 to use toward any eligible two- or four-year educational institution. U.S. Bank has provided more than $500,000 in scholarships over the past 19 years. By incorporating financial education into the scholarship process, U.S. Bank helps ensure students are successful both inside and outside of the classroom.
Students will complete online learning through Financial Genius for Life, which provides real-world skills and knowledge that everyone can benefit from through EverFi@Work, a self-paced, online learning platform that covers key concepts for building financial literacy. The 15-minute courses will train and motivate students to make positive financial decisions by teaching fundamentals such as: how a credit score is calculated; the basics of overdraft coverage; and how to avoid identity theft, pay for college, refinance their mortgage, or start a small business.
“I’ve benefited not only from the scholarship, but from the education I received in the process,” said Russell Jew, last year’s scholarship recipient. “It’s rare that you actually receive an education in the process of applying for a scholarship.”
Russell won the scholarship in his senior year of high school, and began taking classes at City College in San Francisco in the fall of 2014. He will earn his associate degree in May, making it possible to transfer to a four-year college sooner to pursue a major in chemical engineering.
“The scholarship has helped be focus on my studies rather than juggling my schoolwork along with a part time job,” he said.
The online application process is open until Sept. 17, 2015 with winners being announced in October. For more information or to apply visit usbank.com/scholarship or follow us on Twitter @usbank_news, #financialgenius.
Financial Genius is part of a year-long, multi-faceted program U.S. Bank is making available to college-age students through the U.S. Bank Student Union.
“The Student Union encompasses educational tools, interactive events, traditional and social media, thousands of student surveys and peer-to-peer feedback,” said Robyn Gilson, vice president of multicultural strategy at U.S. Bank. “We designed the program by listening to students. They feel uninformed on topics like credit, identity theft or investments, but are interested in learning. The potential for these students is truly unlimited, which is why we are committed to providing students with tools to improve their confidence and skills.”
About U.S. Bank
U.S. Bancorp USB, +0.67% with $403 billion in assets as of December 31, 2014, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The company operates 3,176 banking offices in 25 states and 5,022 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at usbank.com.
