Student-Centered Financial Literacy Program Expands on HBCU Campuses
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Posted By: Virginia Lynch on April 14, 2022 HBCU Connect News Article April 14, 2022 Student-Centered Financial Literacy Program Expands on HBCU Campuses By Ted Daniels, Founder and President, SFEPD Financial literacy skills, which include how to manage credit and student loans, budget, invest, and save money, are essential for a financially healthy life. That is why the Society for Financial Education and Professional Development (SFEPD), a financial nonprofit leader, has established an initiative on HBCU campuses to help students gain the skills they need to become financially secure. SFEPD teaches students financial education and skills that contribute to their financial well-being while in school and after graduation. In 2017, SFEPD started a Student Ambassador Program to train college students to teach their peers about financial education and make the learning fun and explained in ways relatable to young adults. Today, the program is sweeping across HBCU campuses and promoting student leadership and opportunities to bolster students’ financial security. So far, there are 25 HBCUs where the Student Ambassador Program has taken hold, with more in the pipeline for the 2022-23 academic year. As word of the project’s success builds, additional HBCUs are requesting this program for their campuses. Studies show financial literacy skills have a tremendous impact on an individual’s life and increase economic mobility. SFEPD has taught financial education to over 500,000 HBCU students, who often come from families where access to money management knowledge may not be available or learned too late. Jamaal Jude, an Alabama A&M graduate who served as Student Ambassador, said he is grateful to SFEPD for the chance to teach his peers about financial education. “Thank you (to SFEPD) for providing this amazing opportunity to learn and help my fellow college students become financially literate!” he said. Jetnya Simmons, a former Student Ambassador at Jackson State University, concurred. “I appreciate everything SFEPD has done for me and my classmates,” she said. “I hope to continue to learn from SFEPD and join calls to be a (financial) advocate for youth.” The program has strong support from HBCU administrators and faculty. “Words cannot describe the appreciation and respect that I have for SFEPD and what you have contributed to HBCUs, college students, and the community,” said Anthony Nelson, Ph.D., Dean, School of Business at North Carolina Central University. SFEPD’s financial educators train the Student Ambassadors, in person and through remote learning, in personal finance concepts to enable them to teach engaging classes to fellow students. Ambassadors are mentored by SFEPD staff and HBCU business school professors, who help them lead interactive workshops and host financial presentations. In this way, the students develop leadership skills and act as champions of financial literacy on their college campuses. In addition, the Student Ambassadors are paid stipends to learn and share their knowledge, along with the oversight professors. The role of oversight professors on HBCU campuses is an integral part of the program’s success. The professors select the students who serve as ambassadors and work directly with SFEPD on program implementation. Sherman Pittman, the oversight professor at Southern University and A&M College in Baton Rouge, is enthusiastic about the impact of financial literacy engagement on students at the college level. “The Student Ambassador Program has truly inspired a new generation of financial education leaders on campus and in the community,” he said. Student Ambassadors coordinate educational events both on and off-campus, teach financial classes, and promote the program. Financial workshops include topics of interest to college students: budgeting and financial goal setting, credit and debt management, wealth building, homeownership, investor education, and student loan management. SFEPD also provides additional options for students to enhance their skills with a financial literacy certificate through a partnership with the American College of Financial Services. SFEPD’s financial literacy programs on HBCU campuses result in enormous dividends for young adults who learn to manage their finances wisely, make good financial decisions and plan for a healthy financial future. Moreover, SFEPD challenges college students who become financially savvy to pay it forward and share what they learn with their family, friends, and community after graduation. For more information about SFEPD and the Student Ambassador Program, please contact tdaniels@sfepd.org or call 703-920-3807. ### If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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Virginia Lynch
From Raleigh, NC Member Since March 2022 |
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