‘Behind the Blue’: UK Invests helping students build financial futures

What’s UK Invests and how does it benefit the University of Kentucky community? Listen as our students talk about the initiative on the latest episode of “Behind the Blue.”

LEXINGTON, Ky. (Nov. 15, 2024) — What if going to a financial literacy workshop, joining a study group or even working out could directly contribute to your future?

At the University of Kentucky, this forward-thinking idea is already a reality.

The university is dedicated to upholding a powerful promise — to prepare students to lead lives of meaning and purpose. Part of that commitment is empowering and encouraging students to understand the importance of investing in themselves.

In September 2022, we told you about UK Invests — a new, first-of-its-kind initiative to help students become healthier, wealthier and wiser by building a foundation of financial literacy.

Now, through the program, all UK students (undergraduate, graduate and professional) have the opportunity to deepen their understanding of financial wellness, practice investing and receive monetary rewards for institution-identified healthy behaviors.  

“I’m pretty thankful for it. It’s not only a rewarding opportunity, but an educational one,” said Silas Moffit, a first-year College of Nursing student. “You go to college expecting to learn in class, but you don’t necessarily think about learning to invest in stocks on the side. That’s a really cool part of it.”

For Kylie Lessenberry, UK Invests has made a significant difference in her first months on campus. “It’s been very helpful,” said the first-year student, who is majoring in elementary education and accounting. “I started exploring the BBNvolved site and realized I could attend events and earn money. It’s also motivated me to visit The Study — I didn’t even know it existed before UK Invests, and it’s been incredibly beneficial for my classes.”

Here’s how UK Invests works:

• Students can create a brokerage account and learn about financial wellness through online iGrad courses, a leading financial education provider. 
• Our goal: to incentivize behaviors and habits beginning with financial education and expanding to include other wellness initiatives.  
• As part of this initiative, the university is working with Fidelity Investments, which ensures our students are empowered to make deposits in their future investment opportunities that can help them reap a lifetime of benefits for themselves, their families and their communities. 

UK Invests by the numbers: 

• Students can earn up to $250 per semester — $500 per academic year — to be deposited into their UK Invests account. 
• Students can earn up to $75 ($15 per online financial literacy assignment; $30 for attending an in-person financial literacy session) in the “Financial Literacy” category. 
• Students can earn up to $50 ($10 per event) when they attend a registered event on campus, up to in the “Involvement” category. 
• Students can earn up to $75 ($15 per event) for attending peer tutoring, common hour study groups, Career Center events, etc. in the “Employability Skill Building” category. 
• Students can earn up to $50 ($10 per event) for attending a mindfulness session, cooking classes, etc. in the “Wellness” Category. Students can also earn $5 for attending a campus recreation facility three times per week.

By turning everyday campus activities into opportunities for growth and rewards, students are not only building essential financial skills — they’re earning real money.

“So far, I’ve earned around $210 from the university, plus another $30 in bonuses from Fidelity,” Lessenberry said. “I had zero experience with investing, but the app taught me the basics — like what dividends are and how to make wise investment decisions.”

“It’s as simple as going to the gym three times a week and earning money, which is more motivation,” Moffit said. “Even though it’s a small credit, that incentive has pushed me to make healthy choices.”

Results from the program are promising. In the 2023-24 academic year, the retention rate of first-year students who participated in UK Invests was about 92%, compared to a little more than 84% for those students who did not participate. 

First-year students with UK Invests accounts also had higher GPAs — 3.3 compared to 3.0 who did not participate. More importantly, these gains are seen across levels of incoming student preparation.

The program also sets UK apart from other colleges and universities by teaching real-world situations to demonstrate the benefits of saving and investing early. Ultimately, students will build a foundation of financial literacy — allowing them to achieve greater financial security, career readiness and well-being. 

“When I talk about UK Invests to those who attend other schools, they’re like, ‘wait, they're giving you free money,’” Lessenberry said. “I feel so lucky to have this opportunity to learn and grow early on.”

“I would add, the opportunity is there, and all students should take it,” Moffit said. “You get rewarded to go to fun and useful events, and ultimately, it will also end up making you more financially literate for the future.”

Thus far, UK has invested more than $1 million in our students’ futures through UK Invests — funded entirely by private and philanthropic support. 

You can learn more about UK Invests by clicking the play button above and by visiting this website: https://ukinvests.uky.edu/.

About “Behind the Blue”

“Behind the Blue” is available on iTunes, Google Play and Spotify. Become a subscriber to receive new episodes of “Behind the Blue” each week. UK’s latest medical breakthroughs, research, artists and writers will be featured, along with the most important news impacting the university.

Transcripts for this or other episodes of “Behind the Blue” can be downloaded from the show’s blog page.

To discover what’s wildly possible at the University of Kentucky, click here.