Econ 120F students partnered with BetterFi to develop creative, community-focused marketing strategies that help families understand the risks of predatory lending and access safer financial alternatives.
Students in Econ 120F: Principles of Economics recently completed a consulting project for BetterFi, a non-profit Community Development Financial Institution (CDFI) providing safe alternatives to predatory lenders. Through this Community Engaged Learning (CEL) experience, students examined how traditional banks underserve low-income households. This gap forces many families to use short-term predatory loans with APRs over 450% for unexpected medical bills or car repairs. To help BetterFi reach these vulnerable borrowers, students self-selected into groups and created marketing materials that simplify the complex math behind APR borrowing and debt. The teams focused on five distinct community sectors including parent and family networks, tenant and housing support, rural community and town forums, local classifieds and emergency transportation, and civic and faith-based resources. Each group provided concrete actionable recommendations, including exact names and addresses for local churches, apartment complexes, and laundromats. They also delivered catchy slogans and designed physical and digital posters for local buses, fast-food restaurants, Facebook, and TikTok.
