In 2023, Long Island University (LIU) joined MSFCP as a ‘Learner College.’ Given that faculty in LIU’s Roc Nation School of Music, Sports, and Entertainment were involved, LIU requested to launch a pilot program that integrated one-on-one coaching, with a newly designed personal finance course. As Roc Nation School had an existing relationship with JPMC, they brought in JPMC Community Managers to help design and develop the syllabus for a 3-credit course entitled “Game-Changing Finance.” The course included the major elements of personal financial management, but with an emphasis on practical skills needed by college students. The course was launched in the fall of 2023, and was open to students in the Roc Nation School, as well as other undergraduates. The course was coordinated and taught by an Adjunct Faculty member experienced in teaching financial topics. He was assisted by a variety of JPMC Community Managers, who presented different personal finance topics. The Community Managers utilized proprietary material created by JPMorgan Chase as par of their series ‘Chase Money Skills.’

One-on-one financial coaching, in the format designed by the MSFCP, was offered to all students enrolled in the Game-Changing Finance course, as well as to other students on campus. Coaching sessions outside of the class were conducted by two Adjunct Professors, including the primary course instructor, and a second coach, a former financial professional with experience as an executive coach.

In the first year of the pilot program, 56 students enrolled in the course, including 38 students in the fall semester and 18 in the spring semester. Students taking the course cited significant improvement in their financial knowledge and ability to manage financial decisions. Other students cited the value of learning to use a budget and to plan for the future. The faculty member teaching the course noted that “Even finance majors often lack basic knowledge about financial fundamentals. They may not know the differences between checking and savings accounts, the importance of a credit score, or how these impact their future. We are confident that our students are now better prepared for one of adulthood’s most crucial milestone: achieving financial independence.”

LIU’s successful implementation of a course-based program led to a rethinking of the MSFCP model. While the original one-on-one coaching model has produced successful results, the model is expensive to administer, and unlikely to be sustainable. As a crucial component of program sustainability, and to assist colleges with developing a personal finance course, subject matter experts were contracted to develop the essential modules for a credit course. Independently, noncredit course modules were developed by Renton Technical College.

Matriculation Model (MM)
The MM is comprised of a 3-credit course that can be embedded into a program with the course required for program completion, be a stand-alone course that meets the college’s core general education requirements or a course that fulfills an elective requirement. Given that the course is credit-bearing, state or locally funded colleges will receive both tuition and FTE funding to support the cost of the course.

Thus, MSFCP has shifted from a solely individualized coaching model to two new course-based models. Both models will continue to align with the learning outcomes and metrics of MSFCP but delivered as a course with group coaching, peer coaching, and additional one-on-one coaching outside of the classroom. As with the original MSFCP model, the teaching/learning outcomes and the additional coaching will lead to behavioral change.

Noncredit Workforce Module (NWM)
The NWM is designed as a series of short modules that can be embedded into workforce programs or be a stand-alone course leading to a microcredential. Learners will pay a fee for the course/modules to support the cost of the course, moving the burden from external grant funding to college funding.

With the addition of the three CUNY Colleges, the total number of colleges expected to offer a credit or noncredit personal finance course in Spring 2025 has grown to 11 colleges, with many more expected to participate in MSFCP 4.0, funded by JPMC.