Jay-Z's Sean Carter Foundation is trying to help students at historically black colleges and universities in a big way.
The foundation announced the launch of Champions for Financial Legacy (CFFL) on Wednesday (November 13). The educational finance initiative was created in partnership with the esteemed Wharton School of Business at the University of Pennsylvania and Toyota North America.
The program will seek to empower HBCU students across the country and equip them with the right tools and resources to better manage their finances as they enter America's workforce.
“Every day at the Shawn Carter Foundation, we are dedicated to uplifting underserved students and communities,” Jay-Z's mother, Gloria Carter, who co-founded the foundation, said in a statement. “Launching a financial education program that will reach more students and communities, along with dedicated partners like Toyota and the Wharton School of Business, is a vision we're finally seeing come to fruition. We are so excited to see CFFL's incredible impact unfold and look forward to its growth.”
Topics covered in the initiative's curriculum include budgeting, market risks and returns, mutual funds, credit scores, stock markets and more.
“One way to strengthen the resilience of middle-class households is to increase their ability to generate wealth,” said Dr. Keith Weigelt, professor at The Wharton School. “Thank you to both the Shawn Carter Foundation and Toyota for their foresight in addressing a long-neglected social inequity.”
The Champions for Financial Legacy program will launch in the spring semester of 2025 at HBCUs, including Lincoln, Norfolk State University and Virginia State University. After the first semester, the Sean Carter Foundation plans to expand its reach to additional schools in the coming years.
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