Keri Betters, Natalie Hines, Shayna Lupu, Shana McGonigle

“Improving public education is the most important way that we can invest in our future. Great schools are the foundation for economic success.”

-Jack Markell, Governor

Presented May 13, 2014

Table of Contents

Executive Summary 3-4

Research 5-12

Situation Analysis 13

Core Problem/ Opportunity 14

Campaign Goal 15

Objectives, Strategies and Tactics 16-19

Key Publics and Messaging 20

Calendar 21-23

Budget 24-25

Evaluation 26

Appendices 27-30

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Executive Summary

“What is something that you wished you had learned in high school?”A junior University of Delaware student exclaimed, “Financial Literacy!”

The primary goal of the Finance for the Future campaign aims to implement financial literacy programs into the Red Clay School District high schools by increasing financial literacy awareness and emotional investment in such programs among parents and the Board of Education.

Research concludes that students who experienced financial readiness programs while in high school greatly benefitted from the knowledge when managing their financial affairs following graduation, while those who did not have this privilege oftentimes struggle with personal finance issues. Financial readiness programs are currently offered in a majority of Delaware middle schools. The targeted students are 12 to 14 years of age. Although these programs foster financial literacy, this demographic is not the optimal age group. Our team believes high school students are more commonly managing their personal finances already between the ages of 15 and 18, and would greatly benefit from a finance-related addition to the current curriculum.

To implement financial readiness programs into high schools, the Red Clay Board of Education, teachers, administrators and parents of high school students must be willing to understand, engage and encourage the programs’ value. Between balancing a checkbook, understanding college loans and saving for future expenses, students need to have competent financial management skills. Without the support of our key publics--the Board of Education and parents--the Finance for the Future program cannot positively impact the students.

This public relations plan aims to persuade parents by visiting PTA meetings, placing advertisements in the Red Clay School District newsletter and sending one-page letters encouraging feedback and more information on our project. In addition to gaining their support, our campaign will inspire parents to emotionally invest in our plan. To achieve this objective, we will create radio advertisements and publicize our efforts through social media, specifically

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Facebook. With these tactics, parents will become advocates for financial literacy programs.

Our team plans to persuade the Board of Education to increase support of our efforts. By giving an informative presentation during a board meeting, we will explain the importance of financial literacy and knowledge as students prepare to graduate from high school. To create emotional investment, we will conduct a letter campaign and host a community gala to build relationships with key opinion leaders and decision makers.

As Delaware Governor Jack Markell said, “Improving public education is the most important way that we can invest in our future. Great schools are the foundation for economic success.” With Finance for the Future, parents and the Board of Education can improve their school curriculum and the next generation of adults will feel more prepared to manage their money more wisely and appropriately.

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Research

Formal phone interview with Edward Killheffer, Math & Economics/Finance Teacher, Cab Calloway School of the Arts

A passionate teacher, Mr. Killheffer explained his current courses taught at Cab Calloway, which include high school level math and a course titled ‘Economics and Finance.’ He teaches his students about current economic issues, policies and personal finance. Mr. Killheffer was extremely enthused after I explained our passion for financial literacy for high school students. He told me he wishes there were more opportunities for his students to gain knowledge about personal finance and banking. A program currently implemented in the Cab Calloway middle school grades is a club called ‘Business Professionals of America’ that is offered only for seventh and eighth graders. Mr. Killheffer was proud to say that the University of Delaware now offers dual enrollment with various Delaware high schools. Students are able to sign up and complete for classes for college credit, including Economic Issues & Policies and Introduction to Business. With these courses comes a price of $620 to register and Mr. Killheffer was unsure if these courses included any lesson plans regarding financial literacy.

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Red Clay School District Communications Committee Survey● Administered by the Red Clay School District’s Communications

Committee from November 19, 2012 to December 13, 2012. Results were presented on March 20, 2013.

● Survey purpose: To gauge responses from Red Clay School District community members’ thoughts on the current communication strategies and efforts.

● Demographics of respondents: A total of 1,202 people took the survey, including 953 Red Clay parents and 11 elected officials.

● Results: The most frequently recorded weakness was parent involvement; another weakness noted was an unequal quality of education throughout the district. The most recommended change for the district was the addition of specialized programs and activities.

Red Clay School District Parents e-survey of current financial literacy programs:Results: 5% of surveyed parents were aware of available financial programs.

See Appendix B

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Demographics of the Red Clay School District: ● Race:

○ White - 45.8%○ African American - 22.4% ○ Hispanic - 23.8%○ Asian - 6.3%○ Multi-racial - 1.5%○ American Indian - 0.2%○ Hawaiian - 0.0%

● District sources of revenue: ○ State - 53%○ Local - 36%○ Federal - 10%

● 2013-2014 high school enrollment: 5,527 students● Income level: In 2012-2013, 49.2% of students are considered from ‘low

income’ backgrounds.● Three times as many children have bank accounts than their parents did

when they were their age. (Money Management International)

See Appendix A

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SWOT Analysis

Strengths● Targets the correct public (i.e.

high school students)● Preparation course for “real

world” experiences (e.g., depositing checks, balancing budget, opening checking account)

● Supports and will expand Delaware government’s current beliefs and goals on the importance of education

Weaknesses● Lack of qualified and available

teachers to teach the course● Lack of funds to support the

curriculum addition● Unique subject for a full

academic year’s curriculum

Opportunities● Higher knowledge of personal

financial decisions● Well-rounded education and

curriculum in high schools● Impressive attribute for

prospective college students (e.g., transcript, resume)

Threats● The Board of Education not

accepting the Finance for the Future pitch

● Parents not willing to participate and help fund in the implementation process

● Possibility of raising cost of education due to implementation of an additional course

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PEST Analysis

Political● Board of Directors policy change

Economic● Government spending● Financial literacy programs

would better prepare high school students for the future in terms of overall finance knowledge

● Long-term adverse impact on the economy of poor financial decisions made by young people

Social ● Changing attitudes around the

importance of financial literacy to school decision makers

Technological● Programs may include use of

technology equipment not readily available in schools

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Money Matters on Campus StudyA recent study sponsored by Higher One Holdings Inc. and EverFi concluded results showing, “Young adults entering college were already exhibiting troubling and risky financial behaviors, with 20 percent having more than $1,000 in credit card debt and nearly 25 percent admitting that others would be horrified if they knew about their spending habits.” The study also reported, “A survey of 65,000 first-year college students across the U.S., show that policy makers, practitioners and educators should encourage more and differentiated financial literacy education components in K-12 environments.”Source: http://moneymattersoncampus.org (http://bit.ly/1qqwa1W)

See Appendix B

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IV. Potential Key Publics:

Delaware banksM&T Bank, Artisans’ Bank, TD Bank, and WSFS Bank represent just a few of the many Delaware banks involved in financial literacy programs, such as Bank In School. These banks offer their services in school buildings so students can receive hands-on experience making account withdrawals, deposits and other financial tasks. Most Delaware banks work through the Bank in School Program, a service created to match schools with its nearest bank locations. This program receives requests from the schools (not the Board of Education) and works directly with each school to provide the best financial service bank for every unique student community.

Board of EducationThere are nine members on the Board of Education for the Red Clay School District in Delaware. These elected officials host monthly meetings, discuss current and future curricula, implement education-related policies, and lead committees for the district’s communication, finances and facilities. The Board of Education decides which courses will be implemented for all schools in the district and makes final budget decisions by December of the academic year for the following year. The Board analyzes the data, weighs the pros and cons, and debates the practicality of every idea proposed to them. This Board must first approve any decision regarding potential financial literacy programs in Red Clay high schools.

Delaware GovernmentDelaware government officials including Governor Jack Markell and Lieutenant Governor Matthew Denn constitute as advocates for Delaware’s education system. Elected officials and representatives persuade public opinion and have direct communication with state policy makers. Specifically, Lt. Governor Matthew Denn holds a strong influence on public school education systems’ spending and

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budgets and Governor Jack Markell has initiated a STEM education campaign that is captivating attention from many districts.

Parents of high school studentsAs shown in the Red Clay School District Communications Committee survey conducted in 2012, parents want more involvement in their children’s learning. High school students’ parents are concerned about their children’s future and acceptance to college. Although not heavily involved in homework and routine academic assignments, parents are invested in their student’s future courses, college preparation processes, and SAT registration.

Students (Student Government Leaders)Students, especially student government leaders, hold a significant amount of power in their own schools. They are the leaders of their classes and have potential to influence their fellow classmates. The feedback from students would help better the program and advance it to its highest potential. Student governments hold frequent meetings and are in close contact with administration. They could broadcast announcements and hold events to increase interest in financial literacy education among students.

Teachers & AdministratorsTeachers and administrators implement the curriculum provided to them by the Board of Education. They are required to teach students knowledge they did not already have and could use in the future. Although they do not have the direct power to implement a new program into the curriculum, their support would show that the subject is meaningful and could be useful in securing changes to the current course offerings.

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Situation Analysis

Financial literacy programs constitute as a vital extracurricular activity for a majority of elementary and secondary schools in Delaware. Junior Achievement of Delaware, The Money School and the Bank In School program are the leading organizations that provide financial preparation knowledge for students. Participating Junior Achievement of Delaware high schools include Middletown, Glasgow, Woodstown, Caesar Rodney and Dover High School. Schools with a student-run federal credit union branch include Newark High School and Christiana High School.

The Red Clay District schools involved with Bank In School program are elementary schools. In addition to programs, the Red Clay School district offers only a few courses that teach personal finance and economic principles. Overall, there is a lack of participation in Red Clay School District high schools in the majority of these programs. The issue of lack of financial preparation programs in the Red Clay School District must be brought to the attention of several key publics to facilitate change and improvement. As advocates for high school financial literacy, awareness rates of these life-changing programs must increase with an effective stream of communication to the target audiences throughout Red Clay high schools.

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Core Problem/Opportunity

Based on our research, we have found that financial preparation programs are lacking in Red Clay high schools. The financial readiness programs are currently in a majority of middle schools; however, we believe high school students would reap greater benefits as such programs prepare them for a financially-independent future. We need to raise awareness of these programs to the Board of Education and parents of high school students attending Red Clay schools to implement financial learning into the high school curriculum. This change will ultimately establish financial literacy, confidence and success among students.

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Campaign Goal

To increase awareness of and emotional investment in financial literacy programs to the Board of Education and parents in the Red Clay School District in Delaware.

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Objectives

Objective 1. To increase support of financial literacy programs to parents of the Red Clay School District of Delaware by 25% by September 1, 2015.

Strategy 1: Motivate parents to actively participate in the process of implementing financial literacy programs in the Red Clay high schools.

○ Tactic 1: Visit PTA meetings to talk with parents face to face: Introduce the idea with a 10-15 minute presentation that describes the issue (lack of financial courses in high schools), why it is important to add them to the curriculum, and the long-term benefits that could result from implementing the courses. At the end of the presentation, leave 5-10 minutes for questions from the parents. Visit PTA meetings every month to ensure parent involvement and active participation.

○ Tactic 2: Advertisements in Red Clay School District newsletter: Place a full-page advertisement with key messages of the Finance for the Future campaign in each monthly Red Clay School District newsletter. The first advertisement will be posted in the April 2015 issue. It summarizes the proposition to implement financial programs in the high schools of the district, includes date of next PTA meeting, an introduction to the issue that there is a lack of financial literacy courses currently in the high schools, and the benefits of implementing courses for next semester.

○ Tactic 3: Parent feedback letters: Via U.S. postal service, send one-page letters that discuss the financial literacy program idea in greater depth. Include pre-stamped envelope and return card for parents to give feedback and actively participate in the implementation process.

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Include school email and phone number for instant access if parents have any questions regarding the idea and how to get involved.

Strategy 2: Cultivate emotional awareness in parents about the importance of financial knowledge for high school students in the Red Clay School District.

● Tactic 1: Radio Advertisements: Create a 30-second commercial to be announced on 93.7FM WSTW between 7 a.m. and 9 a.m. and 4 p.m. and 7 p.m. The messaging would incorporate a Finance for the Future theme, highlighting the importance of financial literacy with statistics for justification.

● Tactic 2: Facebook Campaign: Execute a financial literacy month social media campaign in April promoting Finance for the Future. Include interactive activities including photo uploads and challenges:

1. Trivia: Ask your high school student financial literacy questions. Answer the question in the comment section.

2. Uploads: Take a photo and upload it here! 3. Winning prize: Parents from the high school with the most

uploads and Facebook activity will win their student’s school a free pizza lunch during the last week of school.

See Appendix C

Objective 2. Achieve majority support from the Board of Education of the Red

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Clay School District of Delaware (four of the seven members) by September 1, 2015. This objective will also target the Red Clay School Community Financial Review Committee.

Strategy 1: Increase awareness about financial literacy by presenting detailed descriptions of future programs to the Red Clay School District Board of Education.

● Tactic 1: Visit Board meetings to talk with members face to face: Introduce the idea with a 10-15 minute presentation that states the issue (lack of financial courses in high schools), why it is important to add them to the curriculum, and the long-term benefits that could result from implementing the courses. At the end of the presentation, leave 5-10 minutes for questions from the parents. Visit Board meetings (third Wednesday of every month) to ensure understanding.

● Tactic 2: Proposed implementation process: Present a detailed implementation process to the Board of Education to show how financial programs could potentially operate within a high school curriculum.

Strategy 2: Increase emotional investment about financial literacy programs in the Red Clay School District to the Board of Education through the use of direct communication.

● Tactic 1: Letter Campaign: Encourage Red Clay District alumni to hand write compelling letters to the Board of Education giving personal testimonials on the importance of financial knowledge that was lacking from their high school curricula.

● Tactic 2: Community Gala: Present survey results explaining the high

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school student benefits from financial literacy programs to the Board and Red Clay community members. The event would gather together elected officials, the Board of Education and the community representatives to foster conversation on the importance of financial literacy programs.

See Appendix D

● Tactic 3: Interactive Board Meeting: Invite Delaware Governor Jack Markell and Lt. Governor Matthew Denn to speak about the importance of financial literacy programs on August 19, 2015).

Key Publics

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- Board of Education of Red Clay School District- Parents of high-schoolers in Red Clay School District (PTOs, PTSAs)

MessagingFinance for the Future: We chose this slogan for our campaign because it targets both publics while emphasizing the fact that financial literacy programs will benefit students for years to come.

Board of Education- Finance for the Future. - In today’s economy, every penny counts. Help students make their pennies count.- Improving public education is the most important way that we can invest in our future. Great schools are the foundation for economic success.Justification: We chose to target the Board of Education with messages that prove financially literate students will have a positive impact on both community and state levels.

Parents- Finance for the Future.- Aid in your child’s first step; teach them about personal finance.- Students are the future’s entrepreneurs, homeowners and community leaders. - Give them the knowledge they need to succeed.Justification: We chose to directly communicate to parents with messages focusing on the significance of financial literacy programs. The implementation of these programs will cultivate personal and professional success for their high school students.

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Calendar

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Budget

Radio advertisements on 93.7FM WSTW30-second spot, once per day, for two weeks.-$200 per week-Cost: $400

Newsletter Advertisement placementNewsletter Community Gala advertisementNo charge.

Letter Campaign materials-Including stamps, writing materials, paper, envelopes and mailing fees.$100

Promotional items (pens, stress balls, checkbook covers)Items bundled together would be branded offerings promoting financial literacy.-Cost: $300

Facebook advertisementsDuring the pivotal month of April, Financial Literacy Month, the Red Clay School District’s Facebook page would post key messaging that would benefit from paid promotion.-Cost: $5 per day. $5 X 30 days= $150

Community Gala logistics (room rental, food, table cloths, and advertisements) The Chase Center, Wilmington, DECenter rental cost: $2,500Food: Catered by local Delaware restaurants $800Security Staffing: $35 per hour, $35 X 3 hours = $105

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Bartender service: $100 per bartender = $300Set up/break down (required by Chase Center): $100

Total investment: $4,755

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Evaluation

We plan to evaluate Objective 1 by surveying parents with a program recognition survey after the campaign has been completed with questions including:

1. Are you aware that there are financial literacy programs available for your children?

2. List all active financial literacy programs in Delaware that you are aware of and list their goals.

We would also use Facebook analytic tools in order to gauge the social media usage. In addition, we would measure awareness by analyzing results of the feedback letter campaign.

We plan to evaluate Objective 2 by capturing a majority vote from the Board of Education to implement financial literacy programs into high school curricula. A similar program recognition survey would be given to the board members as to parents.

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Appendix A

Graphs of Research Data:

Appendix CAppendix B

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Appendix B

Parent’s e-survey of current financial literacy programs:Our team surveyed 200 parents with students enrolled in the Red Clay School district high schools via email in order to gage their current knowledge of financial literacy programs in Delaware.

Results: 5% of surveyed parents were aware of available financial programs.

1. Are you aware that there are financial literacy programs available for your children? 2. Do you think your child would benefit from this type of program?3. Have you ever heard of Junior Achievement of Delaware? 4. Have you ever heard of Bank In School?5. Have you ever heard of The Money School?

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Appendix C

Financial Literacy Month: Facebook Campaign posts

“Can your high school student write a check?” Fill one out, upload the picture and tag the Red Clay School District in it!

“Ask your high school student, what president on the 5, 50 and 100 dollar bill?” Comment below with your child’s high school name and the answers!

“What contributes to your credit score?” Comment below with your child’s high school name and the answers!

“If you went to college and earned a four-year degree, how much more money could you expect to earn than if you only had a high school diploma?” Upload a picture of your student wearing a college/university tee shirt! Also, Comment below with your child’s high school name and the answer!

“Your student just earned their first paycheck, but they are wondering what type of tax was deducted?” Comment below with your child’s high school name and the answer!

“Does your high school student understand the term, ‘personal finance?” Record a quick 30-second video of his/her answer including your child’s high school name!

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Appendix D

Saturday, August 8, 2015

5:30 p.m.-8:30 p.m.

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