Palo Alto, California, September 14, 2022 /PRNewswire/ — A staggering 498,000 predominantly black and Hispanic students attend 639 high schools across the United States usa Access to personal finance courses thanks to a one-time grant to the nonprofit Next Generation Personal Finance (NGPF) from . Michael Jordan and Jordan Brand.
The grant is modeled after the NGPF’s Financial Equity and Empowerment (FEE) Grant Program. The program was launched in 2020 as part of the organization’s commitment to increasing access to financial education within school districts serving a majority of Black and Hispanic students.
Through the FEE Grant program, the NGPF partners with the nation’s largest public school system, which shares a commitment to improving student financial empowerment. Funding, with continued support from the NGPF, will support a dedicated Personal Finance Her Specialist who works locally to provide curriculum support and professional development to local teachers.
In addition, the Jordan grant will provide additional features such as expanding the NGPF’s online curriculum offerings and creating a student investment club coordinated by personal finance professionals working with teachers.
Recipients of the Financial Equity and Empowerment (FEE) Grant include public school funds supported by the 2022 Jordan Grant. new york city Public Schools; Philadelphia Financial Scholars support public high schools in Philadelphia. Philadelphia; Charlotte Mecklenburg school; Fulton County school (Atlanta, Georgia); Guildford County school (Greensboro, North Carolina); When Detroit Public School Community area.
These school systems were chosen not only because of their large numbers of students, but also because their percentage of black and Hispanic students ranged from 56-95%, making the impact of subsidies even greater. .
“This grant has the opportunity to change the financial trajectory of historically excluded communities. usa,” Said Tori Mansfield, senior program manager at the NGPF leading this grant initiative. “Students graduate with an understanding of how to maintain good credit, invest in the stock market, and prepare financially for life after high school.”
research done by of Montana State University Doctor curly urban Of the nearly 12,000 public high schools that serve more than 12 million high school students, access to financial education courses proves unfair, especially for black, Hispanic, and low-income students. increase.
Aside from the eight states that fully implement a one-semester personal finance course in high school for all students, in the remaining states only 1 in 9 students receive financial education before graduation. understood.
But that number has dropped to 1 in 20 in schools, with over 75% of students having access to free or discounted lunches, or more than three-quarters of the Black and Hispanic student population. .
One study from The Economist Daniel Mangrum Loan repayments were higher among first-generation or low-income students who took such courses, suggesting that these students were more likely to have graduated from college and found higher-paying jobs. I’m here. Another study found that the need for personal financial education led to higher credit scores and lower delinquency rates.
“We are amazed at your generosity. Michael Jordan And Jordan Brand will increase access to this essential course and build financial capacity for the next generation,” said the NGPF co-founder. Tim Lanzetta.
This institutional grant to the NGPF is Michael Jordan And 10 years of Jordan Brand, $100 million Commitment to the Black Community (BCC). Founded in 2020, this joint commitment aims to advance sustainable solutions and systemic change in black communities through investments centered on economic justice, education, narrative change and social justice. I’m doing it. BCC grantees are leading the way in creating a world where black people can thrive.
About Next Generation Personal Finance
Next Gen Personal Finance is a non-profit organization with a mission to ensure that by 2030, all students will have completed a semester of personal finance courses before graduating from high school. In support of that mission, the NGPF provides middle and high school educators with everything they need to teach financial skills with confidence, free of charge. It consists of a ready-to-use financial literacy curriculum, including collections of personal finance, mathematics, and economics with Spanish translations, and free professional development training. For more information, please visit www.ngpf.org.
Senior Program Manager
Next-generation personal finance
SOURCE Next Generation Personal Finance