PALO ALTO, Calif., Sept. 14, 2022 /PRNewswire/ — An astounding 498,000 primarily Black and Hispanic students who attend 639 high schools across the United States will have access to a personal finance course thanks to a one-time grant to nonprofit Next Gen Personal Finance (NGPF) from Michael Jordan and Jordan Brand.
The grant is modeled after NGPF’s Financial Equity and Empowerment (FEE) Grant program, which began in 2020 as part of the organization’s commitment to increase access to financial education within school districts serving majority Black and Hispanic students.
Through the FEE Grant program, NGPF partners with the largest U.S. public school systems who share a commitment to increasing the financial capability of their students. Funds support a dedicated Personal Finance Specialist, who will work locally to provide curriculum support and professional development to teachers in their district with ongoing assistance from NGPF.
Additionally, the Jordan grant provides for extras such as an expansion of NGPF’s online curriculum offerings and the creation of student investment clubs coordinated via the personal finance specialists in cooperation with teachers.
Financial Equity and Empowerment (FEE) Grant recipients supported by the 2022 Jordan grant include the Fund for Public Schools, which supports New York City Public Schools; Philadelphia Financial Scholars, which supports public high schools in Philadelphia; Charlotte-Mecklenburg Schools; Fulton County Schools (Atlanta, Ga.); Guilford County Schools (Greensboro, N.C.); and Detroit Public Schools Community District.
These school systems were chosen not only because of their large number of students, but also because the percentage of Black and Hispanic students ranges from 56-95 percent, furthering the impact of the grant.
“This grant has the opportunity to change the financial trajectory of historically excluded communities across the United States,” said Tori Mansfield, NGPF’s Senior Program Manager, who leads this grant initiative. “Students will graduate understanding how to maintain good credit, invest in the stock market, and prepare financially for life after high school.”
A study conducted by Montana State University’s Dr. Carly Urban of nearly 12,000 public high schools serving more than 12 million high schoolers shows access to financial education courses to be inequitable, especially for Black, Hispanic and low-income students.
Excluding the eight states that have fully implemented a one semester high school personal finance course guarantee for all students, she found that just one in nine students in …….