Case Studies

Stories of Technology Enabled Financial Education in Schools (TEFES)

Mamta is a 12 year old girl is a resident of village Jhansala, district Patiala, Punjab. She hails from a humble family. Her father is labor and mother a home-maker and she aspires to become a teacher.

She is studying in class 7 in Govt. High School Jhansala, Rajpura (Patiala). Mamta studied in a private school up to class 5 and joined this school in class 6, due to the financial problems in her family.

Technology Enabled Financial Education in Schools (TEFES) program was introduced in schools in 2015 and became immediate matter of interest not only for students, but for teachers as well. Mamta started taking keen interest in TEFES program. She has developed many posters and models explaining several financial strands in a simple way.

Learning from this program enables her to assist her parents in budgeting, planning and saving in the household expenses. She regularly deposits the money received during festivals, from relatives or any other source, in her bank account.

Anjali Saini, is student of class VII A from SKV EKNATH, J&K block, Delhi and was enrolled under Technology Enabled Financial Education in Schools (TEFES) program during the academic year (2015-2016).

Under this program, she indulged herself in various activities listed in the TEFES worksheets aligned with the modularised digital content and also actively participated in the Financial Enterprise Workshop (FEW). Under this workshop, she along with her friends put up a stall to sell products made out of waste material. She herself made these products and learnt the entire mechanism of planning, executing and then reflection. She learnt how to earn money to put up her stall, estimate the selling price of the products and finally raise the sales pitch which culminated in earning profit for the group. Thus, she was exposed to the entire process of business transaction.

This workshop and the module on saving, helped her to understand the importance of saving and imbued this culture into practice. This finally helped her to save electricity and water bills for her family. Last month, they successfully saved an amount of Rs 800/-

Mansi is studying in class VII, S. K. V., No. 2, Punjabi Bagh, New Delhi. Upon interacting with her, her teacher found that though she is a bright student but doesn’t value money. She used to indulge in unnecessary spending like in roadside eateries, etc.

Her mother was disappointed with this behavior but despite multiple attempts she failed to resolve the same. With time, this turned out to be a matter of serious concern.

With the commencement of TEFEES program and after one or two initial classes tremendous improvement and behavioral change was observed among all the students. Slowly and steadily with the exposure to the TEFES modules, Mansi also started realizing the importance of money and there was a significant reduction in her expenses. Suddenly, the entire class along with Mansi decided to save a portion of their pocket money every month and they used to calculate their savings, discuss their expenses, etc. in the class with their group.

Unfortunately, one day Mansi’s brother met with an accident and her father was out of town. Her mother was facing difficulty to arrange the hospital expenses. To her relief and surprise, Mansi handed over her piggy bank which had significant saving and proved to be of great help.

Thus, the financial literacy classes helped Mansi understand and value money.

Stories of Technology Enabled Financial Education in Schools (TEFES)

Chandini Khan a 12 year old girl, a resident of Arjun Nagar, New Delhi aspires to become a model someday. She is clear about her goals as well and has this to say,” Ma’m I religiously watch the reality show India’s top 10 model on MTV to fulfill my dreams.”

She is a student of class 7, SKV Gargi, New Delhi and has been enrolled in Technology Enabled Financial Education in Schools (TEFES) program since the commencement of the academic year 2015-16.

Chandini lost her father years back and lives with her mother and 2 siblings. Her brother works as a car mechanic and her sister works in LG service center to sustain the family.

A year back her family had to suffer because of an incident of theft, subsequently, she came in contact with one of the AIF’s coordinators who guided her to start using bank to keep all her savings and taught her bank related transactions.

Thus, in order to help her family, she learnt the procedure and now independently operates all her accounts. She is thankful for the TEFES classes as this is where she learnt all the financial nuances.

Chandini has now taken up the responsibility to teach other students of her class procedures for the banking transactions.

*Chandini Khan is a 12 year old student and beneficiary of TEFES program in Delhi.

Priya, now 12 year old, a resident of Humayupur, New Delhi aspires to become a teacher. She is a student of class 7, SKV Gargi and has been enrolled in Technology Enabled Financial Education in Schools (TEFES) program since the commencement of the academic year 2015-16.

Her father runs a local curd shop and her 2 brothers are studying in private schools in Delhi.

Priya hails from Lucknow and during her visits to her hometown, as part of the family tradition, she gets small amount of money from her relatives. She in turn used to give all that money to her mother for safekeeping. Earlier she was not aware of safely keep the same in a bank account but now after coming in contact with the AIF coordinator she is planning to open a bank account in her own name.

*Priya is a 12 year old student and beneficiary of TEFES program in Delhi.

Sakshi a 12 year old girl, a resident of Shahpur Jat, New Delhi aspires to become a doctor. She is a student of class 7, SKV Gargi and has been enrolled in Technology Enabled Financial Education in Schools (TEFES) program since the commencement of the academic year 2015-16.

Sakshi loves her digital TEFES classes and whatever she learns in the class she discusses the same at home with her mother. Her mother is a homemaker and her father is a computer operator. She has a younger sister studying in the same school with her and her elder brother studies in a private school.

After attending TEFES classes she has initiated to save money in her gullak and ensures that every month she contributes Rs 100/- into it.

Thus she is not only educating her mother at home through her learnings from the TEFES classes, but has independently begun her personal savings. She aims to buy herself a bicycle with her savings and is very much influenced by the character of Shiv uncle in the TEFES modules.

*Sakshi is a 12 year old student and beneficiary of TEFES program in Delhi.

Vineet, a 12 year old boy, a resident of Gautam Nagar, New Delhi aspires to become a scientist. He is a student of class 7, SKV Gargi and has been enrolled in Technology Enabled Financial Education in Schools (TEFES) program since the commencement of the academic year 2015-16.

Vineet is the youngest amongst his 3 siblings. His father drives an auto for the living and mother is a homemaker.

Vineet being the youngest in the family was never exposed into the discussions on savings and earnings. Since he started taking TEFES classes, he could participate in discussions on the finances in his home and this came as a pleasant surprise for the entire family.

He now saves Rs 10 on a daily basis and also accompanies his father to the bank for the monetary exchanges as it interests him.

With the help from his classmate Chandini, he is now confident that he would be able to independently complete all the related banking transactions.

*Vineet is a 12 year old student and beneficiary of TEFES program in Delhi.

Delhi Tamil Education Association (DTEA), Lodhi Estate, Delhi

Germinating from one teacher-one pupil position to seven Senior Secondary Schools with over seven thousand students and five hundred teachers is a proud accomplishment for any institution.

In 1923, the first Madras Education Association School was established in Simla, with one teacher and one pupil by Shri. P.H.S. Iyer. In January 1924, a primary school was opened in New Delhi and was given recognition by the Education Authority in 1925.The Higher Secondary Department started in 1946.

The schools are affiliated with the Central Board of Secondary Education (CBSE) and are recognized by the Directorate of Education, the government of N.C.T. of Delhi. 95% of funding is sanctioned by the Delhi government and remaining by Tamil government. The schools register under the Societies Registration Act and though meant primarily for Tamils, also accept other residents of Delhi. Most of the intakes in the schools are from lower middle class and slum inhabitants.

The DTEA Senior Secondary School, Lodhi Estate is one amongst 7 other DTEAs sprawling in various locations of the capital. The school has maintained consistency in securing top ranking positions amongst the schools of the metropolis, including the public schools in terms of the pass percentage as well as distinction. Apart from it the school stands out in terms of discipline, extra- curricular activities, regular classes, etc. Hence it successfully delivers an exemplary performance by focusing on the holistic development approach.

With an objective to integrate technology in day to day classroom transactions and facilitate students’ enhanced learning outcomes, AIF entered into collaboration with DTEA Lodi Estate in 2009.

AIF with the support from DELL started its Digital Equalizer Program (DE) in the school. A fully functional lab equipped with systems and an internet connection was provided to the school. An AIF resource person, based in the school manages this lab and ensures transaction of classes as per the DE parameters. Every year 600 students and 30 teachers are trained at DTEA Lodi Estate.

Apart from DE and flipped classes, programs like English Helper (to enhance vocabulary and pronunciation through software), Global Scholars (global platform to interact with peers from the US), NFLAT (National Financial Literacy Assessment Test), DE Contest (theme based video making) and summer camps have been implemented with an aim to bring about disruptive change in teaching-learning process.