Lincoln University and two Virginia HBCUs get financial classes from Jay Z's charity
Shawn Carter Foundation and Champions for Financial Legacy work to improve money management
While the Supreme Court went out of its way to side with Republicans in regard to Affirmative Action, some celebrities are choosing to help historically black colleges and universities (HBCUs), which were started with the intention of educating a population of people that were constantly being shunned from admission at predominantly white universities anyway. And in the latest news, that celebrity helping HBCUs is none other than Shawn “Jay Z” Carter.
Champions for Financial Legacy (CFFL), a program launched by the Shawn Carter Foundation, is bringing financial literary courses to HBCUs. It’s starting with Lincoln University in Pennsylvania, Norfolk State University in Virginia and Virginia State University.
According to the Instagram post for CFFL, “Together, we’re empowering students with the financial skills needed to build intergenerational wealth and make a lasting impact in their communities. This partnership is a big step toward setting a new standard for financial fluency in higher education.”
National Debt Relief reports that, as of 2021, only 15 states currently require high school students to take a course in personal finance. And the American Public Education confirms that Americans owe $1.11 trillion in credit card debt. Meanwhile, when all states were graded on how well they taught their students about finances, the result was that 66% of states scored a C or below. Only 17 states received an A or B.
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CFFL, Shawn Carter Foundation and HBCUs unite
Dr. Gloria Carter, Jay Z’s mother, is the CEO and co-founder of the Shawn Carter Foundation, which she co-founded in 2003. But this isn’t the mother-son team’s first initiative to help students. The Shawn Carter Foundation has also created a national scholarship fund, college preparatory workshops and annual HBCU bus tours, along with study abroad and international exposure, professional development, wealth building, scholar support, and community and goodwill programs.
Recommended Read: “Black students, get serious about minority scholarship applications ~ BlackTechLogy: With Affirmative Action outlawed, Republicans are trying to block black scholarships altogether”
CFFL is modeled after the accredited curriculum at the Wharton School of the University of Pennsylvania and Bridges to Wealth, a financial fluency curriculum that focuses on underserved communities.
The financial literacy programs at these HBCUs are scheduled to start in the spring of 2025.
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