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.