The University of Kentucky is rolling out a one-of-a-kind student investment program. Under the "UK Invests" program, students will be given a personal investment account that the university will deposit money into as incentive for healthy behaviors.
Kirsten Turner is Vice President for Student Success at UK. She said a variety of activities will earn students money.
“Taking meditation classes, or going to the gym to deal with stress, and to be physically well, in terms of belonging, or community, do they join a student organization, do they take on a leadership role, all of these kinds of micro scholarships to hardwire these healthy habits,” said Turner.
Attending financial literacy instruction will also earn students money. Turner explained that the goal is that by the time students leave UK they will have healthy habits and a bit of money that they know how to invest.
Eric Monday is the Executive Vice President for Finance and Administration at UK. He said private donations are funding the program.
“We're going to invest in the first year, over $1 million that we will push to these investment accounts. And then our goal is in future years through additional philanthropy and private funds, that we would increase those levels of investment,” said Monday.
Student athletes are already using UK Invests, officials said the program will be available to all students by the fall of 2023.
The program is voluntary, and students can keep all money they earn.
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