April 16th 2024.
According to an article by AfroTech, NBA star Chris Paul has teamed up with Goalsetter, a fintech company founded by Tanya Van Court, to provide vital financial literacy skills and resources to middle-school students in Oakland. This exciting partnership, which also involves the Oakland Fund for Public Innovation and Nike, aims to address the urgent need for financial education among young people. A recent study conducted by Goalsetter uncovered concerning gaps in financial knowledge among students attending prestigious universities, highlighting the critical importance of early financial literacy programs.
In a statement, Chris Paul expressed his passion for empowering youth with the knowledge and tools to secure a stable financial future. He emphasized that this is not just a commitment, but a necessity. "We owe it to the next generation to lay the groundwork for financial success, ensuring they're equipped to make informed decisions that will positively impact their lives and communities," he said.
As part of this initiative, 1,400 middle-school students from Edna Brewer Middle School and Montera Middle School in Oakland, California, will have access to comprehensive financial literacy education. The curriculum, aptly named "Goalsetter Classroom," includes weekly quizzes infused with pop culture references to effectively engage students.
But it's not just about learning. Students will also receive practical resources, such as a Goalsetter savings account accessible through the company's app. Additionally, they will receive $40 in Nike stock deposited into their Goalsetter investment account. To further empower students, Goalsetter will provide them with Cashola Cards, debit cards supported by Mastercard, equipped with features like "Learn Before You Burn" and "Learn to Earn."
Tanya Van Court, the founder of Goalsetter, expressed her excitement about this collaboration. "This is more than just a conversation; it's a step towards bridging the financial literacy gap for youth across America," she stated. She also praised Chris Paul for his involvement, highlighting how his support has been crucial in driving home the message that financial education is essential for all, regardless of their socio-economic background.
By teaching students core financial concepts such as the Rule of 72 and the power of compound interest, this initiative aims to break the cycle of costly financial mistakes that can hinder their ability to build wealth. It's a significant step towards equipping young people with the skills they need to make smart financial decisions and secure a brighter future for themselves and their communities.
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