InvestEd is incredibly happy to be working with UNICEF and ING through the FinTech for Impact Project, to develop the Education-to-Adulthood (E2A) Digital Coaching Program. This new partnership will help InvestEd realize its vision of a future where all youth gain quality education and future-proof skills that enable them to achieve their aspirations.
Education to Employment Landscape in the Pandemic and Recession
The world is going through rapid change triggered by the Fourth Industrial Revolution (Industry 4.0) and the COVID-19 pandemic. Together, these two forces are fundamentally changing ways of working and thriving in an increasingly competitive global economy.
The Philippines is struggling during this unprecedented time. Over 42% of unemployed are youth, between the ages of 15-24 (Philippine Statistics Authority). It’s likely that this figure will increase as massive disruptions continue to take place.
Youth, especially those from disadvantaged backgrounds, are left vulnerable and face bleak economic prospects. Lack of access to education financing, mental and logistical struggles in adapting to online learning, and an uncertain job market — these are the incredible obstacles that youth must hurdle in the years ahead.
InvestEd sees an opportunity to unlock the untapped potential of that 42% and ultimately help spark an economic recovery for an entire nation.
Education-to-Adulthood (E2A) Program
As the focus of the UNICEF FinTech for Impact project, the E2A Coaching component of our program is essential due to the following reasons:
• The academic and financial pressure can take a huge toll on students’ mental health. We guide Investees through any issue — whether it’s school, family, or loan related – to help them combat anxiety and depression.
• Finding the right job and career path is important. We help Investees think deeply about where they want their education to take them to ensure a return on investment to the student.
• It’s not just about finding a job anymore. We train Investees in key job skills that will make them highly adaptive and resilient despite massive economic disruptions — especially during and after the COVID-19 pandemic.
We’re seeing promising results as well. Since April 2020 — when prolonged economic shutdowns due to COVID-19 triggered a global recession which greatly affected the Philippine economy, unemployed Investees found stable employment through InvestEd’s specialized coaching program designed for student borrowers affected by COVID-19 pandemic. These initial results show us that our E2A Coaching is having a noticeable effect on Investees’ employment outcomes and overall success pathways, despite the current economic climate.