More than 100 students from Bowie State University, Morgan State University, Norfolk State University, and Texas Southern University gathered Tuesday to learn the financial skills needed to transition from renters to homeowners, guided by top executives from Wells Fargo and HomeFree USA’s Center for Financial Advancement. Hosted at Bowie State, the event offered these students a clear roadmap to understanding the benefits of owning a home over renting.
HomeFree USA’s Center for Financial Advancement is a vital resource for Historically Black College and University (HBCU) students to opening the doors to careers in mortgage and real estate finance. The program focuses on building money management skills, improving credit knowledge, and laying the groundwork for long-term wealth through homeownership- a mission that’s already making a difference.
“This is the seventh year we have been working with HBCUs,” said Luwanna Williams, Director of the Center for Financial Management, her passion palpable. “It is important that students understand the significance of owning a home to help build wealth. We want to make sure students at Bowie State and other HBCUs learn about first-time home buyer programs and other options that will help them buy property.” Her words resonate like a rallying cry for a new generation of homeowners.
For Texas Southern University junior Makai Branch Jr., a finance major with big ambitions, the session was nothing short of a revelation. “I wasn’t aware of what it takes to buy a house,” he said. “This program has opened my eyes to what it will take for me to own rather than rent and the types of upfront costs I’ll need to consider.” The session gave him a clearer path to achieving that goal.
Students were given information about the Wells Fargo $10,000 Down Payment Homebuyer Access grant, a 3% down payment option, and a program that offers up to $5,000 for one-time closing costs, such as appraisal and processing fees.
Arianna Redmond is a junior pre-med major at Bowie State and a budding entrepreneur with her sights set sky-high. She’s not just aiming to become a physician — she’s planning to pursue her goal of owning residential and commercial properties — “It was amazing the amount of material they covered during the meeting,” said Redmond. “The basics of financial literacy, resume building, finding jobs and careers were covered in the meeting in addition to building up your credit scores. My ultimate goal is to become a physician but I also want to own homes and commercial property.”
“Wells Fargo is committed to helping people from various backgrounds to achieve the American Dream of owning a home,” said Donna Greene, the company’s Vice President of Diverse Segments Home Lending. “I’m responsible for advancing home ownership in diverse communities and that occurs through attaining financial knowledge. HBCU students are critical in building wealth for the next generation and buying a home is where it all begins.”
By equipping students with financial knowledge early on, initiatives like this aim to lay the foundation for long-term success, helping them turn their aspirations into reality.
