Capital One and Khan Academy Offer Financial Literacy Course

Capital One is joining forces with Khan Academy, a leader in online learning, to help individuals become financially empowered through a free, online financial literacy course designed to enable learners to reach a level of mastery. 

This effort to support Khan Academy is a part of the Capital One Impact Initiative, a multi-year commitment to advance socioeconomic mobility. The Impact Initiative serves as a catalyst for Capital One to help build the financial well-being of communities by supporting initiatives that emphasize financial health fundamentals. 

“At Capital One, we embrace the idea that we can help people thrive by advancing the financial well-being of individuals in the communities we serve,” says Kerone Vatel, Head of Community Impact and Investment at Capital One. “We’re excited to join forces with Khan Academy to demystify personal finance and help learners to feel confident, capable and in control when it comes to their money.”

Since 2008, Khan Academy has offered practice exercises, instructional videos and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. The nonprofit offers instruction on a myriad of topics, including math, science, computing, history, art history, economics and test preparation. Teachers use Khan Academy to personalize learning in their classrooms. Khan Academy partners with more than 500 school districts and schools in the United States, and has more than 150 million registered users worldwide.

A 2022 Report from the FINRA Foundation found that individuals with higher financial literacy were less likely to have late fees or make only minimum payments on their credit cards. However, only roughly 23 percent of high school students in the U.S. currently have guaranteed access to financial literacy courses.

This financial literacy course aims to bridge that gap by providing financial education solutions for all learners through a series of self-paced units that break down complex financial concepts.

The virtual course allows participants to learn at their own pace from the comfort of their homes, or wherever they choose to learn online, mastering each skill before moving to the next. 

“The progression of lessons in this course helps people take control of their finances. They learn step by step about the changes they can make to their spending habits to have a big impact on savings over time,” says Khan Academy Founder and Chief Executive Officer Sal Khan. “We’re grateful to be joining forces with Capital One to make these important lessons free and readily available to as many people as possible.”

When people are more financially literate, studies show that they are able to make better decisions about their financial futures. The FINRA Foundation reports that 53 percent of individuals with a higher financial literacy spent less than their income, and 65 percent had set aside a three-month emergency fund.

Budgeting and Saving
Budgeting techniques, reducing expenses and saving money

Consumer Credit
Credit scores, credit cards and different payment methods

Financial Goals
Money personality, charitable giving, SMART goals, and short, medium, and long-term financial goals

Loans and Debt
Borrowing money, types of loans, terms of borrowing, debt management, and bankruptcy

Insurance
Overview of risk management, insurance basics and terminology, health insurance, disability and long-term care insurance, life insurance, property insurance, car insurance, supplemental insurance, warranties, and estate planning

Investments and Retirement
Saving and investing, risk and return of investment options, and retirement planning

Scams & Fraud
Protecting personal information, common scams, and consumer protection agencies

Careers and Education
The relationship between education and earnings, college and post-secondary education options, the cost of education, and choosing the right educational path

Taxes and Tax Forms
The fundamentals of taxes, examining different types of income and how they are taxed

Employment 
Understand how to read your paycheck after all deductions have been taken out, compare job offers, and understand the difference between hard and soft benefits 

Banking
Understand how to manage accounts, the importance of savings and how interest and inflation work 

Car Buying
Prepare for buying a car, arm yourself with knowledge, and make decisions that are right for you

Housing
Explore the different types of housing, associated living costs and navigating the lease or buying process