Jay-Z’s Shawn Carter Foundation (SCF), in collaboration with the Wharton School of the University of Pennsylvania and Toyota Motor North America, has launched a groundbreaking initiative aimed at improving financial literacy among students at Historically Black Colleges and Universities (HBCUs). Known as Champions for Financial Legacy (CFFL), the program focuses on bridging the wealth gap and empowering students with practical financial knowledge and skills.
Real-World Financial Literacy for HBCUs
The initiative, set to debut in spring 2025, leverages Wharton’s Bridges to Wealth curriculum. This program is designed to promote generational wealth in underserved communities by teaching essential financial principles like budgeting, understanding market risks, stock trading, and wealth management. Students will also engage in service-learning activities, applying their financial knowledge in real-world community settings to foster local economic growth.
Gloria Carter, Jay-Z’s mother and co-founder of SCF, emphasised the foundation’s commitment to uplifting underserved students and communities. “Launching a financial education program that will impact more students and communities is a vision we’re proud to see come to life,” she said.
Initial Rollout and Expansion
CFFL will first be introduced at Lincoln University in Missouri, Norfolk State University in Virginia, and Virginia State University. Faculty from these universities will receive professional development training to support the program, while trained student ambassadors will encourage campus-wide participation. Plans are in place to expand CFFL to other HBCUs following its initial rollout.
A Legacy of Advocacy
Toyota, a key supporter of the initiative, previously partnered with SCF for the HBCU Bus Tour, aimed at increasing college enrollment. Monica Womack, Toyota’s general manager of diversity and inclusion, highlighted the program’s dual impact. “This initiative not only equips HBCU students with financial resources but also enriches communities through advocacy,” she stated.
Jay-Z’s SCF has long been a champion for equitable opportunities. With this partnership, the rapper-turned-business mogul furthers his mission of empowering Black communities to build sustainable economic legacies.
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