Plan Thailand partners with schools for 3 years to implement the Student Bank Program, after which the school is responsible for maintaining the program on its own. The program encourages good savings practices among youth, families, and communities by helping students develop financial literacy skills. The program targets areas with at-risk populations, especially stateless people, ethnic minorities, and those living with HIV/AIDS. Many of these communities have substantial debt and live as far as 50 kilometers from the nearest bank. The school banks are made accessible to the entire community.
Students who participate in the Student Bank Program receive business and financial literacy skills training. They then form small groups to develop business plans and proposals and receive guidance from Plan to run these small businesses. Of the participating students in each school, about 40 are trained to be core leaders. These student leaders run the bank and promote financial awareness among their peers while developing teamwork and leadership skills. Plan partners with local commercial banks (where available) to transfer money from the school banks. Plan designs and provides the internet banking software, as well as computers for schools where none are available. The program trains teachers and staff at each school to assist students and use the online software.
In some schools, the Student Bank Program also includes disaster preparedness training.
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CEI approaches in actionStudent supportSchool support21st century skills (soft skills)Entrepreneurship skills
Model details2010Not-for-profitOtherFinancial literacy21st century skills (soft skills)Entrepreneurship skillsLong-term projectFree service or product12,568
BeneficiariesDisplaced individualsNomadic communitiesOrphans and vulnerable children
Before selecting a school, Plan meets with the Ministry of Education and surveys the area. Plan then talks with individual school directors and selects schools with internet access and where teachers have basic ICT skills so they can help maintain the program.
Current student savings amount to more than US $182,000.August, 2013
Since 2005, the Student Bank program has expanded to work with schools in 7 provinces in Thailand.
Over the next five years, Plan Thailand hopes for Student Bank to reach all of Thailand and operate 1 million accounts in 3,500 schools. In addition, Plan is looking to improve the banking software and reach out to more out-of-school children (OOSC).
Monitoring & EvaluationYes
To evaluate the Student Bank program, Plan had an independent baseline survey and midterm evaluation conducted that sampled nearly 300 students in schools operating the program. The evaluations consisted of student surveys and one-on-one interviews with select teachers and students to assess families' financial situations, savings practices, and the impact of the program's training activities. Plan also monitors how much money students save.Internal assessment performanceUser satisfactionAbility to reach the poorOtherstudent participation, student savings, family financial situationsYes
72% of student participants in 2013 (vs 34% in 2012) plans to share savings with their parents to help pay bills
60% of student participants in 2013 (vs 8% in 2012) says they can use savings to buy books and supplies to help defray education expenses
96% of student participants in 2013 (vs 80% in 2012) thinks the program helps their village, including 58% that believes "people in the village are learning how to save and manage money from the students"