Campus News

Alumni Make Financial Literacy Accessible, Fun

Story posted May 19, 2009

Tom Davidson '94, veteran of a number of technology startups, is CEO of a new venture that draws on experiences from a time when he wasn't so savvy about his finances.

"When I came out of school, I was saddled with heavy student loans," Davidson tells CNNMoney.com. "I had no clue about credit reports. I found out five years later that my unpaid Book-of-the-Month Club dues dinged my credit 100 points."

Davidson and his business partners, Jon Chapman '96 and Ray Martinez '96, and their startup company Everfi, a provider of Web-based software that teaches young adults to manage their money, are profiled in the CNNMoney article, "Financial Literacy Through Video Games."

EverFi offers a five-hour series of Web tutorials that let students explore real world situations that run the gamut from a used-car dealership to the floor of the New York Stock Exchange. In doing so, they learn about saving money, earning interest and managing debt.

Davidson and company make it interesting.

"This stuff is the most ungodly, boring content on the planet," says Davidson. "We have to make it funny and irreverent, built for kids used to receiving content over the Internet."

Davidson jokes in the article that if he had rolled out EverFi sooner, the country might have dodged the current economic crisis. Teaching Generation Y about finance, he says, "may be the most important thing that we do as a nation to make sure this doesn't happen again."

Read the article.

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