Courtesy of Hampton University
The Society for Financial Education and Professional Development (SFEPD)and Hampton University announced a comprehensive initiative to teach financial education to the Hampton Universitycommunity.
Appointed as president of Hampton University on July 1st, Williams is bringing new and innovative approachesto academics, including a strong focus on financial education, preparing students for financial success after graduation, and wealth creation. One of the nation’s premier HBCUs, Hampton University is a private research university, known for its business, communications, and nursing programs. According to Williams, Hampton University will work to eradicatea void in college education by ensuring a holistic approach to teaching financial skills at the university and in the community. “Too many college students receivean educational degree but do not acquire the financial skills that encourage economic health throughout their lives,” Williams said. “By working with SFEPD, we aim to eradicate the wealth and financial knowledge gapat Hampton University. Additionally, implementing a campus-wide financial literacy program will add value to our students’ degrees.”
SFEPD, a leader in the financial education movement, has taught personal financial management skills at historically Black colleges and universities (HBCUs) for nearly 25 years, but the project with Hampton University marks the first time SFEPD will train students, parents, staff, administrators, and the surrounding local community.
“We applaud Hampton University’s President Darrell K. Williams for his vision and commitment to making sure financial knowledge and skills are taught to individuals throughout the university,” said Ted Daniels, SFEPD’s founder and president. “Financial literacy skills are essential to managing money wisely and to foster economic growth, especially in underserved communities not exposed to the intricacies of personal money management.”
SFEPD will offer an array of financial literacy training programs at Hampton University including three of SFEPD’s signature programs:
An SFEPD Student Ambassador Program
- A successful program that trains HBCU college students to teach their peers to manage their finances better and build wealth. SFEPD trains Student Ambassadors in financial concepts to enable them to lead and teach engaging classes to fellow students. SFEPD’s financial educators and HBCU business school professors help Ambassadors to create workshops and events for students and local communities, and in turn, the Ambassadors develop leadership skills and serve as champions of financial literacy.
“Mind Over Money Skills”Program
- SFEPD’s“Mind Over Money Skills” Program, a series of customized financial education and professional development seminars and workshops, is tailored for underserved populations andlower-income individuals.SFEPD will offer Credit Management and Student Loan Management, Personal Money Management, Investor Education, and Homeownership seminars at Hampton University. [Text Wrapping Break]
FinancialLiteracy Certificate Program
- Through a collaboration with the American College of Financial Services (ACFS), SFEPD offers supportive opportunities for HBCU students.Through the Know Yourself, Grow Your WealthSMinitiative, Hampton students, parents, faculty, staff, and administrators can earn a financial education certificate, which adds to their knowledge and professional development skills.
As broad sectors of the U.S. population confront economic hardships, more emphasis must be placed on guaranteeing that financial knowledge and skills are available for those who need it the most, Daniels said. “This is essential in communities of color who often live paycheck to paycheck with low savings and homeownership rates; however, SFEPD’s financial literacy programswill giveHampton University and the community tools to manage their money well.”