August 15th 2023.
Spelman College is giving its students an opportunity to get an early start on building wealth. In partnership with Stackwell and Fintech in Action, the college recently announced the launch of a financial wellness pilot program that will provide Spelman students with a finance and investing course and a seeded Stackwell account of $250.
Sixteen Spelman sophomores who won the Braven Accelerator Capstone Challenge will be the first to take part in the program. It will be tracked over the next three years to assess how students can build sustained wealth over time. Participants in the program will graduate with all the funds they have amassed, allowing them to launch their professional career with financial stability.
Korene E. J. Smith, Director of Fintech in Action, is thrilled about the program. “Going into the Braven Capstone Challenge, I wanted our sponsorship to offer a challenge question and prize that made an impact beyond the classroom. We truly believe this program has the potential to be scaled to larger cohorts of students and expanded across HBCUs and other colleges and universities – providing access to critical and functional financial education and an understanding of the markets to countless Black students in America.”
Morgan Newson, a rising junior at Spelman, is excited about the opportunities the program is providing. “To be provided with a program that teaches us how to be successful investors on our own, along with a seeded account is a huge deal. As a Black woman, it means a lot to have this kind of support and head start in learning how to build wealth. Being able to start years before graduation gives me leverage as I think about financial stability and my future.”
The financial wellness program is part of Fintech in Action and Stackwell’s larger strategic partnership that includes a variety of initiatives for Black college students and student-athletes. It's clear that this program will give Spelman College students the much-needed resources to make informed decisions about their financial future.
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