From STORY ARTS website:

Educators have long known that the arts can contribute to student academic success and emotional well being. The ancient art of storytelling is especially well-suited for student exploration. As a folk art, storytelling is accessible to all ages and abilities. No special equipment beyond the imagination and the power of listening and speaking is needed to create artistic images. As a learning tool, storytelling can encourage students to explore their unique expressiveness and can heighten a student's ability to communicate thoughts and feelings in an articulate, lucid manner. These benefits transcend the art experience to support daily life skills. In our fast-paced, media-driven world, storytelling can be a nurturing way to remind children that their spoken words are powerful, that listening is important, and that clear communication between people is an art.

Gaining Verbal Skills
Becoming verbally proficient can contribute to a student's ability to resolve interpersonal conflict nonviolently. Negotiation, discussion, and tact are peacemaking skills. Being able to lucidly express one's thoughts and feelings is important for a child's safety. Clear communication is the first step to being able to ask for help when it is needed.

Imagination
Both telling a story and listening to a well-told tale encourages students to use their imaginations. Developing the imagination can empower students to consider new and inventive ideas. Developing the imagination can contribute to self-confidence and personal motivation as students envision themselves competent and able to accomplish their hopes and dreams.

Passing On Wisdom
Storytelling based on traditional folktales is a gentle way to guide young people toward constructive personal values by presenting imaginative situations in which the outcome of both wise and unwise actions and decisions can be seen.