A statewide financial literacy initiative was announced on Friday. The initiative, sponsored by a partnership of the Calipari Family Foundation, Kentucky banks, and EverFi, a Washington D.C.-based company, is aimed at bringing "financial literacy education to children across the state of Kentucky" beginning this academic year.
John Calipari had this to say about his latest philanthropic effort:
"This has been a vision that my wife Ellen and I have held for several years, and we are excited to be launching a program that will focus on teaching young children the value of saving. I applaud the local banks here in Kentucky who have made this possible and encourage others to join me in this endeavor. Together, we are empowering children to cultivate good financial habits that will stay with them throughout their lives.
The EverFi 2.5-hour curriculum, named Vault: Understanding Money, is designed for students in the 4th through 6th grades and aligns with both sate and national standards. According to this Jerry Tipton article in the Herald-Leader, this type of program is usually designed for high school students, but Calipari stated that he wanted to target a younger, elementary age student because "They'll say I'm doing it for recruiting," if he targeted high schools. (Never, has a more true statement been made).
EverFi CEO Tom Davidson said:
"Through the amazing support of the Calipari Foundation and numerous Kentucky bands, EverFi will work with the Kentucky Department of Education to ensure the elementary schools across the state have access to our cutting-edge financial technology program."
The cost of the program is between $4,000-$5,000 per school. The Calipari Family Foundation and Kentucky banks will foot the bill.