November 1st 2023.
Fintech in Action is in its third year of helping students make the most of their money and introducing them to career opportunities. This year, they have partnered with digital investment platform Stackwell to launch a financial wellness pilot program specifically for Spelman College students.
Stackwell announced the initiative on Aug. 8th, with the goal of helping students become more comfortable with managing their finances and eliminating the racial wealth gap. Fintech in Action Director Korene Smith and Dr. Venetta Coleman, the director of Institutional Effectiveness and the “Quality Enhancement Plan” at Spelman College, discussed the program’s goals during the Oct. 30 episode of WABE’s Closer Look.
The program aims to teach students about investing and building generational wealth, budgeting, managing student debt, and managing credit. Smith said it was important to start at the university level, as this is where students can get a head start on their financial future. Technology plays a big role in this, as it gives students access to resources and experiences that they may have otherwise been unable to access.
The first cohort of students included the 16 Spelman students who won the Braven Accelerator Capstone Challenge. Each of the winners received a $250 investment kickstart with their own Stackwell accounts. Fintech in Action and Stackwell will track the students’ progress over three years and provide resources as they build wealth over time.
This fall, Fintech in Action also launched its national HBCU financial wellness tour with Rapunzl Investments, the “HBCU Invest More Tour.” This tour seeks to provide the same resources to students at other HBCUs, giving them the opportunity to learn about financial literacy and build generational wealth.
The goal of the program is to provide Black students with the knowledge and support they need to succeed financially and make progress in finance and fintech. Through this initiative, students will be able to pay off student loan debt, purchase corporate wardrobe, and gain access to the resources and experiences they need to build a secure financial future.
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