The Five-Course Specialization Will Help Further SoFi’s Mission of Helping Members Achieve Financial Independence
SAN FRANCISCO – April 26, 2021 – SoFi announced today the launch of “The Fundamentals of Personal Finance” Specialization in partnership with Coursera, one of the world’s leading online learning platforms. The program, comprising five courses created by SoFi and their team of in-house financial planners, will provide members with the basic fundamentals of personal finance, including an introduction to personal finances, saving for the future, managing debt, fundamentals of investing, and the basics of risk management.
A mere half of Americans grasp personal finance concepts like managing debt, risk management, and saving for retirement. Over the last five years, financial literacy has improved by only 3% amongst Americans.1 “The Fundamentals of Personal Finance” will incorporate SoFi’s house view of financial planning coupled with tips from credentialed financial professionals to break down barriers and help consumers understand everything from credit scores, cash flow, budgeting, investing, debt across all categories, and different insurance offerings.
“The basics of personal finance are often missing from school curriculums nationwide but are fundamental in order to create a strong financial foundation,” says Anthony Noto, CEO of SoFi. “We created this program to provide our members and partners with financial education and empower themselves to take control of their finances and make informed decisions that allow them to reach financial independence to achieve their many ambitions.”
“Whether managing a mortgage or the weekly grocery budget, financial literacy is an essential life skill that helps individuals make informed decisions for themselves and their families,” said Betty Vandenbosch, Chief Content Officer at Coursera. “We are pleased to partner with SoFi, an innovator in the personal finance space, to offer accessible, highly relevant content that teaches learners how to save, spend, earn, borrow, and invest throughout their lives.”
Members and non-members who enroll for a fee can take any or all of the five courses and access the graded assessments to earn course certificates. Members who visit the courses for free can still access the full videos, activities, and readings but will not have access to the graded assessments or the ability to earn course certificates.
SoFi members, employees of SoFi at Work employer partners, and affiliates of the company’s association partners, all have access to membership benefits, which include access to meet with financial planners, complimentary career services through an exclusive partnership with Korn Ferry, as well as live experiences that have gone digital during the pandemic.
SoFi encourages an ongoing commitment to financial literacy, and is expanding on membership benefits by offering a scholarship for full access to SoFi’s “The Fundamentals of Personal Finance” Specialization on Coursera for one year2 to the first 700 SoFi members who sign up for a personal finance event during the month of April.
SoFi at Work will continue to amplify the company’s efforts to improve financial literacy for all by pairing the same high-value scholarship and educational course access opportunity to all partner organizations (and their employees) that take initiative to build a more resilient workforce by applying actionable insights and incorporate SoFi’s Emergency Vault solution into their benefit plan design. In addition to helping employees prepare for unexpected, short-term expenses through Emergency Vault savings solutions, SoFi at Work provides powerful financial tools, knowledge, and support to employers that are looking to improve employees’ financial well-being, increase work productivity, and help retain talent.
To learn more about or sign up for SoFi’s ‘The Fundamentals of Personal Finance’ Specialization visit https://www.coursera.org/specializations/personal-finance-fundamentals.
1Source: TIAA Institute-GFLEC Personal Finance Index 2020 Report https://gflec.org/wp-content/uploads/2020/04/TIAA-Institute-GFLEC_2020-P-Fin-Index_April-2020.pdf?x27564
2The first 700 members to sign up for a SoFi personal finance event through the SoFi app will receive one year of free access to SoFi’s specialization via Coursera.
About SoFi
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing and protecting give our over 1.8 million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.
About Coursera
Coursera was launched in 2012 by two Stanford Computer Science professors, Andrew Ng and Daphne Koller, with a mission to provide universal access to world-class learning. It is now one of the world’s leading online learning platforms with more than 77 million registered learners. Coursera partners with over 200 leading university and industry partners to offer a broad catalog of content and credentials, including Guided Projects, courses, Specializations, certificates, and accredited bachelor’s and master’s degrees. More than 6,000 institutions have used Coursera to transform their talent by upskilling and reskilling their employees, citizens, and students in high-demand data science, technology, and business skills required to compete in today’s economy.
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Disclosures
Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
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