The Financial Education and Wealth Creation Project (FEWCP) was created to address key realities which are discussed in this brief business case. The setting for this work is the nation’s 105 Historically Black Colleges and Universities (HBCUs), institutions that are matriculating more than 300,000 students annually. Many HBCU students are first-generation college students and more than 70 percent are eligible for the Federal PELL grant due to their family’s low socioeconomic status. The positive implications for the FEWCP project are multifaceted and intergenerational. The core goal is to ferment and transform the financial mindset of a generation of students to a growth mindset who are poised and prepared to become high wage earners, financial and social entrepreneurs, investors, and philanthropists.
The project will offer several educational tracks with opportunities for members of the campus and the broader community to pursue and earn valued certifications and college credit in several sectors, along with other unique opportunities that will create a wealth-building culture at the participating institutions.