Elevate Credit, a leading tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, today announced its largest consumer product, RISE, will offer college scholarships in an effort to promote financial literacy.
The RISE scholarship will offer five $5,000 awards each year to students who demonstrate a desire to improve their financial knowledge and educate others on personal finance. To be eligible for the scholarship, students must complete an online financial literacy course that was developed in partnership with digital education expert EVERFI.
“Every day at RISE we see thousands of Americans struggling with credit challenges. The last thing we want is another generation without a strong financial literacy foundation,” said Tony Leopold, RISE general manager.
Research from Elevate’s Center for the New Middle Class indicates people who are today non-prime (with credit scores below 700) were significantly less likely to receive instruction in financial management from parents or in school and were more likely to learn by trial and error.
“We want to do our part to help hardworking students achieve their dreams while also teaching and raising awareness among as many students as possible about the tools they need for long-term financial success,” Mr. Leopold said.
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