Student Retention project

The Student Retention project was aimed at young people in years 11, 12 although is also applicable to year 13 students. The project was designed to give young people the knowledge, skills and confidence to be able to manage their finances whilst in further education.

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The project
Duration: 
October 2010 to April 2012
Project brief: 
The Student Retention Project provided an online resource for young people to learn about a variety of financial scenarios, as well as terms that they are likely to encounter whilst in further education. The online resource is also supported by a faciltators guide for tutors enabling personal finance lessons to be delivered in either a formal setting, self study or through a blended approach.
The funding
Funded by: 
Funder brief: 
J. P. Morgan approached pfeg to develop and run a pilot project concentrated in the Lewisham and Lambeth areas of London, aimed at young people who intend to go into further education either at a college or sixth form. The idea of the project was to equip the young people with the knowledge and skills to be be able to mange their money so that they can remain in education rather than dropping out of a course due to financial constraints and not being able to manage their finances.

The project aimed to engage young people ideally before they entered further education or within their first term so that they were equipped early with the knowledge and skills to manage their money and so reduce the chances of them dropping out through financial concerns and money mismanagement . Throughout the project, the programme was available online continuously thus providing maximum flexibility for use by student and schools and was ideally suited to be delivered over a number of lessons to fit in to a school or college timetable.

The resources were designed for student led learning through online access as well as through teacher led sessions with the provision of a facilitator guide that is designed to replicate the online activities as well as offering additional learning opportunities. The design of the programme also allows for a blended approach as the young people progress around a student house entering a variety of rooms and undertaking a financial challenge for which they receive a trophy. Students are also allowed to revisit the house and improve on their performance as many times as they wish.

Interactive learning resource

The interactive learning resource can be used independently by young people or in a classroom setting with internet access and teacher led.
This web-based interactive resource:
• Challenges students to research a range of financial topics
• Introduces students to developing a personal budget plan for their first term in further education
• Has a teacher’s area which includes guidance on using the resource and delivering lessons.

Teachers guide/lessons

pfeg educational consultants developed a guide for teachers and educators within further education institutions to enable them to run a series of personal finance education lessons/activities that could be delivered within a school sixth form or college environment. The guide explained the activities in each of the 6 rooms featured in the online tool and offers opportunities and links for extended learning.