Products and Performances
Students will complete a total of 4 assessment and create a product of a comprehensive financial plan for their client:
3 Formative Assessments - Each artifact on a different topic that provides a summary of each of the three lessons within the unit, tips on how to implement what was learned and guidance to avoid potential pitfalls related to the topic. Each individual student will submit their own formative assessment for each of the three lessons.
1 Summative Assessment - A single artifact that sums up the important topics learned in the unit in the students' own words and provides guidance on how to implement what as learned to make smart financial plans and good choices related to personal finance. Each individual student will submit their own summative assessment.
A Comprehensive Financial Plan for the Client - This project will be a capstone for the course and completed in a group of 2 - 6 students depending on the class size and instructor's preference. The product must include high level summary of how Claudia can reach her financial goals along with a comprehensive financial plan addressing her long and short term goals and a monthly budget to help her reach those goals.
Students will present their comprehensive financial plans to a panel of judges consisting of the instructor and their fellow classmates. Classes based in North Carolina are encouraged to reach out to the North Carolina State Employees Credit Union and request an audience of financial professionals to serve as judges as part of their community outreach program. Local banks, financial advisors and other financial professionals may also be willing to serve as judges for the final presentations for classes outside of North Carolina.
Students will need to explain why they are suggesting the plans and budget they create for Claudia and how this plan ties into what they have learned during their time creating their plan. The presentation will need to showcase how their suggestions will help Claudia reach her long term and short term financial goals and how they made their decisions based on the things they learned in each of the three units covered in class in preparation for creating the comprehensive financial plan for Claudia's individual circumstances.
The judges will be asked to consider Claudia's situation and share what suggestions they agree with and if there are any suggestions they disagree with and why they disagree. If there is a disagreement, the judges will be asked to present an alternative solution they would suggest for Claudia. Professionals coming in from the community who are serving as judges will provide verbal feedback to each team. Students will be asked to provide brief written feedback for each group that they will receive at the end of the unit.
Reflection Opportunities:
Students will be able to reflect on their own work and the work of their classmates as they work on the formative and summative assessments. Each student will review the formative assessment of two of their classmates and provide feedback based on the rubric provided. In addition, each students will meet with the instructor for 10-15 minutes for a personalized feedback session where they will receive detailed feedback on the rough draft submission of their summative assessment project.
There will also be several open workshops held face to face or virtually where students can come into a face to face or virtual classroom to work on their projects and ask questions or receive help from their instructor in real time.
Once students have completed the summative assessment, they will begin to work in their groups to create their comprehensive financial plan with recommendations and a detailed budget for their client. The instructor will want to walk around the classroom or visit each breakout room during group work sessions to listen in and monitor progress. It will be critical for the instructor to know how to guide discussions and ask important questions to facilitate positive interactions among group members and help guide them toward smart financial solutions for their client.
Students should receive exit tickets each week similar to this example to assess their comfort with the material and their confidence in their ability to complete their assignments. Instructors should use the feedback students provide to distribute resources or create additional materials to help them bridge any knowledge gaps or help them feel more confident in their work.