New Program Focuses on Financial Literacy

Posted March 13, 2020, 9:23AM

North Carolina Central University's (NCCU) School of Business has partnered with the Society for Financial Education and Professional Development to launch an innovative peer-to-peer financial literacy program for students.

The Ambassador Program engages students at NCCU and 11 other universities in efforts to promote and teach financial literacy on campus. The program is funded by Wells Fargo Hands-on Banking on behalf of the nonprofit financial education society.

Initially chosen to serve as peer ambassadors at NCCU were four business administration students: Danielle Newton, Ambrose Bond, Khalil Woods and Theo Tagoe.

The ambassadors will be overseen by Finance Professor Kofi Amoateng, Ph.D., who, along with other members of the faculty, will teach them to implement industry-relevant lesson plans, refine their leadership skills and serve financial-literacy champions on campus.

Among workshops to be offered through the program include credit management, student loan management, budgeting, saving and investing, and financial goal-setting.  A recent study by AIG Retirement Services reports only 35% of college students take a personal finance course in high school.

“Today’s high-school students and incoming college freshmen are bombarded with financial information that can seem overwhelming,” student ambassador Bond said. “This program will provide students with pertinent information needed to survive in today’s globalized world.” 

For the past 20 years, the Society for Financial Education and Professional Development, based in Alexandria, Virginia, has worked to enhance financial and economic literacy in the United States, providing provided financial literacy training workshops to thousands of individuals and college students, with a focus on underserved communities. 

“In today’s society, financial literacy is one of the most important tools to have in your arsenal,” said student ambassador Khalil Woods. “This initiative will provide key financial literacy to help prepare individuals for the real world.”

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