UK Invests has deposited more than $100,000 into students’ Fidelity Bloom accounts since Aug. 21, according to an email from UK Invests on Nov. 5.

The program was accessible for all students at the start of the 2023 fall semester according to a campus-wide email on Aug. 22, 2023. 

UK Invests is an initiative by the university to help promote financial literacy and increase student knowledge of investing through collaboration with Fidelity Investments and the Fidelity Bloom app, according to the UK Invests webpage.

“Your peers are earning money while simply doing day-to-day activities — going to the gym, attending Common Hour study groups, attending campus events, learning about financial literacy and more,” the email from UK Invests said. 

The popularity of the service has grown substantially this semester, with more than 4,300 students having opened a brokerage account, according to UK Spokesperson Jay Blanton. 

“We really believe this program, which is the first of its kind in higher education, will give the students the opportunity to practice financial investing. So investing early and saving early will create more security for you long term,” Blanton said. “This is a program that is designed to provide an education about why that’s important and some practical hands-on experience about it.”

Each week, UK Invests offers multiple events for students to attend and earn money. The funds are then distributed into a brokerage account, according to the UK Invests “Start earning money page.”

For more information on how much each event pays, students can visit the UK Invests website.  

Emogene Bane, a sophomore marketing and integrated strategic communications major, said she has already taken advantage of the program. 

“I heard about UK Invests first through my sorority. So far I’ve only done some of the classes at the gym, and I plan on attending the upcoming bingo night,” Bane said. “But UK Invests has already taught me a lot about how to have conversations with others about money and how to help them become more financially literate.”

Through educating students on the benefits of investing early, the program is a complement to learning in the classroom as well as hands-on experience through investing, according to Blanton.

Elizabeth King, a sophomore finance and music performance flute major, said she has already seen an increase in her financial literacy this semester.  

“It’s already made a massive impact on me. Whether that is through my bank account or even just things that I’ve learned, it’s helped me understand practical ways not just to save my money but also invest it through hands-on experiential learning,” King said. “I’m also increasing my financial literacy knowledge about navigating inflation, budgeting hacks and the power of long-term investments.”