In partnership with JPMorganChase, the Evaluation Team, and the MSFCP Team, a series of learning outcomes and metrics were determined to evaluate and ensure that participation in MSFCP leads to improved academic success, persistence, credential completion and lifelong financial health. Working with Winmill Software, a database was developed for colleges to enter encrypted student-level information that are utilized to determine the success of the model in meeting the following metrics:
- Financial coaching participation: 100% of enrolled participants will participate in a minimum of two one-on-one coaching sessions.
- Financial coaching participation: 50% of enrolled participants will participate in three one-on-one-coaching sessions.
- Savings: On average, participants will increase savings while enrolled in MSFCP $350.
- Debt reduction: On average, participants will reduce debt while enrolled in MSFCP by $350.
- Increase credit score: 20% of participants will increase their credit score by 20 points.
- Achieve a financial goal: 80% of participants will achieve a financial goal.
- Create a personal budget: 80% of participants will create a personal budget.
- Course/Module completion: 75% of enrolled participants will complete the course/modules.
- Passing Grade: 75% of participants who complete a credit course will earn a grade of a C or better.
- Persistence: 75% of participants enrolled in a course will complete the course.
- Retention: 65% of First-Time, Full-Time students will be retained from fall-to-fall semester.