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- Brandon Colvin, Our 360 News
Last week, the Jackson State University (JSU) College of Business hosted a grand opening ceremony for its Financial Wellness Center (FWC), making JSU the first HBCU to open a financial center dedicated to students. The Society of Financial Education and Professional Development (SFEPD) and Wells Fargo will partner in the endeavor to ensure the center becomes a substantial resource for students.
“Our program represents a major milestone for financial literacy,” said Theodore Daniels, founder and president for the Society of Financial Education and Professional Development. “We partnered with Wells Fargo to infuse financial literacy into the education of HBCU students, who in turn can use that information as well as the income generated from their degrees to make better decisions for themselves.”
The SFEPD enhances the financial and economic literacy of individuals and households in the United States, and promotes professional development at the early stages of career growth through mid-level management.
“We hope to educate our students on the importance of financial literacy,” said College of Business Dean Fidelis Ikem, Ph.D.
“They deserve to know the importance of maintaining good credit scores, building wealth and home ownership.”
The FWC aims to assist students reach their financial goals by offering one-on-one financial coaching, workshops and digital resources. The Center will also offer financial literacy resources in key areas such as money management, budgeting, savings, credit ratings, loans and spending decisions.
“Our biggest goal is to actively engage students and assist them with making healthy financial decisions after they leave JSU,” said Associate Dean Shelia Porterfield, Ph.D., College of Business.
Providing students with guidance and support in financial wellness also affords the University with another opportunity to enhance student success.
“Students who are financially literate have the resources and know the alternatives to the use of money other than just spending it,” Daniels said. “The more literate our students are, the bigger chances we have in reducing the wealth gap in the Black community."