iGrad last week added NYU to its roster of educational institutions and organizations that it partners with to provide a holistic approach to helping students attain financial success.
iGrad is a customizable online platform promoting financial literacy and career assistance for students and graduates at more than 500 institutions. The company consulted with financial counselors and advisors to create courses around budgeting, credit cards, saving, career assistance and student loans.
However, it steers away from recommending financial advisors or answering questions regarding which products and services to choose.
NYU partnered with iGrad as part of a loan counseling initiative started by the U.S. Department of Education.
“As we prepare students to be successful local and global citizens of the world, we understand that financial education is an integral part of that success," said Lynn Higinbotham, assistant vice-president of enrollment management at NYU. "At NYU we have a large, diverse population of students. An online platform is a practical way to reach everyone.”
The iGrad online platform launched around eight years ago to meet a financial literacy need among families planning for college by addressing student loan default rates and fostering a holistic approach to student financial success.
Kris Alban, iGrad's executive vice president, said the company's platform goes beyond the entrance and exit counseling offered to student loan borrowers.
Educational institutions aren’t the only ones seeking a holistic financial approach. There’s another version of iGrad called Enrich (www.enrich.org) that has garnered 300 partnerships from banks, credit unions and employers looking to assist their employees in preparing for retirement. Alban said employers who seek the Enrich platform typically want to increase 401(k) participation rates and improve financial wellness in hopes of improving employee productivity.