Starting Strong: Why School Essentials Matter for Long-Term Financial and Academic Success

An interview with one of our nonprofit partners, Cradles to Crayons

In recognition of Financial Literacy Month, we spoke with Meghan Doetschman, Director of Corporate Relations at Cradles to Crayons (C2C), about the fundamental tools that help set kids up for success in school and life.

Tell us about your organization and its mission. What does it mean to you?

Cradles to Crayons provides children experiencing homeless or low-income situations with the essential items they need to thrive at home, at school and at play. We supply these items free of charge by engaging and connecting communities.

To me, the mission of this organization means that any child, regardless of their social or economic background, has access to the items they need to succeed. It also means that kids can focus on being kids, keep up with their peers and be confident every day.

We often view school supplies as a basic need, but they are also a child's first "tools of the trade." How does providing these high-quality supplies help a student understand the value of being prepared for their future financial and academic success?

At Cradles to Crayons, we strive to ensure that children receive ample supplies to set them up for success each year. That is why each backpack that we distribute contains 14+ essential school items. We poll our schools and partner agencies to ensure the items we give are actually needed and used. We distribute the majority of our school supplies at the start of the school year each August, but our partner agencies are able to order school supplies at any time during the year.

In your experience, how does receiving "new and high-quality" items teach children about self-worth and the importance of valuing the resources they have to manage?

Receiving high-quality items, whether that is brand new school supplies, a warm winter coat or seasonally and size-appropriate clothing, increases a child's confidence in their day-to-day life. By giving a child a backpack with a fun pattern, a stylish coat or a new pair of sneakers, Cradles to Crayons allows that child to express their individuality and feel dignified. At Cradles to Crayons, we often say "Quality = Dignity," and we truly believe that high-quality essentials can give a sense of dignity to the children and families we serve.

Enova believes in expanding access. How does your work ensure that a lack of "startup capital"-in the form of school supplies-doesn't prevent a child from eventually becoming a financially literate and successful adult?

By providing over 80,000 brand new backpacks filled with new school supplies to Chicagoland students this year, C2C helps to ensure that every child starts school on a level playing field and can keep up with their peers throughout the year. Lacking school supplies or other essential items increases the likelihood of experiencing chronic absenteeism - missing 10% or more of the school year. For each year that a student is chronically absent, their odds of dropping out nearly double. Their ability to read at grade level drops significantly. By ensuring that children have the supplies and essentials they need, Cradles to Crayons helps to close the gap faced by many children and families across Chicago.

At Enova, giving back is a big part of our culture and who we are. Our Enova Gives program focuses on partnering with organizations to make financial education and resources more accessible and provides team members with the opportunity to give back.