*The Shawn Carter Foundation, with support from Toyota Motor North America, has launched Champions for Financial Legacy (CFFL), a financial education program aimed at empowering HBCU students.
Created in partnership with the Wharton School’s Coalition for Equity and Opportunity, CFFL is based on Professor Keith Weigelt’s curriculum and the Bridges to Wealth program, which has been offered to Shawn Carter Foundation scholars and families since 2017, the press release states.
“We are excited to see our partnership with the Shawn Carter Foundation evolve to include this innovative initiative,” said Monica Womack, general manager, D+I and community engagement, Toyota. “One that not only provides resources to HBCU students but also reaches the heart of the community, through advocacy for financial literacy.”
Per the release: “CFFL aims to reduce the growing wealth gap by equipping students with the financial knowledge and skills needed for economic success and social mobility. Topics include budgeting, market risks and returns, mutual funds, credit scores, stock markets, and more. By fostering financial fluency and community engagement, the program seeks to change the trajectory of intergenerational wealth and build a more equitable future.”
“Every day at the Shawn Carter Foundation, we dedicate ourselves to uplifting students and communities that are underserved,” said Dr. Gloria Carter, Shawn Carter Foundation CEO and Co-Founder. “To launch 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 are finally seeing come to fruition. We are so excited to see the incredible impact of CFFL unfold and look forward to its growth.”
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Per the release, the curriculum features real-world applications and service-learning opportunities, enabling students to use their financial knowledge in community settings to promote wealth-building and support local development.
Dr. Keith Weigelt, Marks-Darivoff Family Professor of Strategy at The Wharton School, University of Pennsylvania and Founder of Bridges to Wealth, said: “One way to strengthen the resiliency of middle-class households is to increase their ability to generate wealth. I thank both the Shawn Carter Foundation and Toyota for their foresight in addressing a long-neglected social disparity.”
“The Wharton Coalition for Equity and Opportunity (CEO) is pleased to partner with the Shawn Carter Foundation and Toyota in launching the financial legacy program with several HBCUs. This partnership will help us remain committed to closing the wealth gap through an evidence-based approach,” said Dr. Fareeda Griffith, CEO managing director.
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