Economics Center for Education & Research (U.C.)
51 Goodman Drive, Suite 100, P.O. Box 19970
Cincinnati, OH 45219
Student Enterprise Program
The Student Enterprise Program (StEP) serves a majority of students in low-income neighborhoods in the region. In StEP, students (age 5-13) earn school currency for good behavior, academic achievement, and good attendance. Quarterly, that income can be spent in a school store on items from basic school supplies, all the way to big ticket items (such as a basketball or an mp3 player). For the latter, a student has to save their school earnings all year long. Students can also choose to save their income (with interest), or donate it to a charity of their choosing.The concept of a school store provides a framework for the business volunteers to engage with students in real-world ideas and concepts: choices, responsibilities, and earnings, saving/spending/donating; it is a safe place to practice real-world skills. The program supports academic achievement through its activities that are connected to math, reading and writing, and social studies.This request for sustained program support will allow the Center to serve students consistently over the next three years; building a strong and continuous partnership within participating schools allows the program to impact students at a deeper, more meaningful level. As a result of this sustained support, students can build long-term relationships with business volunteers, improve motivation and academic achievement, increase their self-efficacy and self-confidence, and develop important soft skills that they will take with them long after graduation.
Program Goals:
The overarching goals of StEP include: 1. To connect experiential classroom learning in financial education/economics to the “world of work” 2. To increase students’ awareness and knowledge of financial literacy, basic economics, and entrepreneurship 3. To increase student engagement inside the classroom and provide educators with quality curricular financial literacy resources as well as a positive behavior support system that truly works. These goals build resiliency and prepare them to succeed academically as well as provide a real-world context to their education.
Program Results:
The StEP Program is currently midway through the year, and we are still in the process of gathering concrete results. To date, StEP has successfully concluded its first quarter in StEP stores with all participating students. Based on previous years' trends, we expect this year's outcomes to align similarly, and we will provide a comprehensive final report at the conclusion of the 2023-2024 academic year, detailing the actual results. For reference, below are the outcomes from the 2021-2022 academic year:
The Student Enterprise Program (StEP) was able to reach 1,000 new students during the 2021-2022 academic year. Participating students in schools have shown statistically significant increases in on-time consistent attendance, financial education, and classroom engagement. This is a strong indicator that the program was successful and impacted its participants.
Earnings: Our data shows student baseline earnings at the beginning of the 21-22 academic year (Quarter 1) were $484 (out of $750 possible). At the end of the academic year (Quarter 4), students’ average earnings were $606. That's a 25.21% increase. Since student earnings are based on good behavior, attendance, and academic success, an increase in earnings is an indicator of an increase in these areas as well.
Savings: Students saved 38.17% in Quarter 1. In Quarter 4, students saved 42.38% of their earnings. That's an 11.03% increase between Q1 and Q4. This increase demonstrates that participating students are learning to set goals and save earnings.
Donating: At the end of Quarter 1, students donated 7.25% of their earnings to their school's chosen charity. At the end of Quarter 4, students donated 17.54% of their earnings to their school's chosen charity. At the end of Quarter 1, 57% of students donated to their school's charity. At the end of Quarter 4, 84% of students donated to their school's charity.
Website:
http://www.economicscenter.org Amount: $25,000
Date: March 2023
