iGrad’s platform at Saint Joseph’s includes comprehensive customized and interactive information on everything from building and maintaining good credit, budgeting, and money management to student loan/debt management and loan calculators.
iGrad is currently used by more than 600 public and private colleges and universities of all sizes, including Dickinson College, NYU, Arizona State University, and Columbia University.
Data from the National Center for Education Statistics shows that even pre-pandemic, the degree achievement rate for all students nationally was only about 62 percent.1
Research shows that financial literacy programs can lower student loan defaults, decrease financial stress, improve academic performance and teach students how to manage their finances for a lifetime.
“College students are facing significant financial challenges impacting enrollment, retention, and the level of student loan debt, which is already the second-largest category of debt in the country,” said iGrad Vice President of Business Development Donna Miller.
The Department of Education estimates that just over 10 percent of student loan borrowers are in default. Researchers at the Center for American Progress estimate that as many as 30 percent of student loan borrowers can’t keep up with debt just six years after graduation.
Based on artificial intelligence and proprietary algorithms, iGrad personalizes financial information for each student’s situation and needs. It also offers tools, quizzes, videos, articles, and a library of multimedia content. Included in the iGrad platform is a student loan tracking tool that aggregates student loan balances and estimates monthly payments, helping to prepare students for these payments after graduation. It adapts to each user’s specific circumstances, providing interactive educational content on retirement and mortgages to those who need it.