iGrad Student Financial Literacy Platform Launched by Wake Forest University

iGrad Partners with Wake Forest University to Provide Financial Wellness Platform to Students, Faculty, and Staff

iGrad, a San Diego-based financial technology company, has teamed up with Wake Forest University to offer its customized, interactive financial wellness platform to more than 7,700 students, faculty, and staff on the private university’s Reynolda Campus in Winston-Salem, N.C. The platform includes personalized information on topics such as building and maintaining good credit, budgeting, money management, student loan/debt management, and loan calculators.

According to Wake Forest Director of Student Financial Aid Tom Benza, the university is committed to preparing its students for life after graduation, and financial empowerment is a critical skill for success. By offering iGrad’s robust suite of financial well-being and planning tools, Wake Forest hopes to maintain a low student loan default rate, decrease financial stress, and build a foundation of solid financial management for its entire campus community.

The iGrad platform is available to all Wake Forest students, and the Office of Student Financial Aid engages in targeted financial well-being programming with specific university programs and centers. Research has shown that student financial literacy programs can decrease financial stress, improve academic performance, and teach students how to manage their finances for a lifetime.

This partnership comes at a crucial time, as college enrollment and degree-achievement rates have been declining across the nation, particularly among students from low-income or high-poverty high schools. With the added financial challenges presented by the pandemic, it is essential for colleges and universities to prioritize student financial literacy.

iGrad Vice President of Business Development Todd Woodlee emphasized the impact of student financial challenges on enrollment, graduation rates, and student loan debt and defaults. He expressed iGrad’s enthusiasm to partner with Wake Forest and offer its platform to the university’s nearly 8,000 students, faculty, and staff.

In addition to Wake Forest, iGrad’s platform is currently used by over 600 public and private colleges and universities, including Texas A&M University-Corpus Christi, New York University, Central Michigan University, and Davidson College.

Based on artificial intelligence and proprietary algorithms, iGrad personalizes financial information for each student’s situation and needs. It offers tools, quizzes, videos, articles, and a library of multimedia content, as well as a student loan tracking tool and interactive educational content on retirement and mortgages.