Nearly 50% of high school graduates have said they wish they had learned personal finance in school. Fortunately, one of the most successful men in the world contributes to it.
According to a Press release498,000 primarily Black and Hispanic students attending 639 high schools across the United States will have access to a personal finance course through a one-time nonprofit Next Gen Personal Finance (NGPF) grant from Michael Jordan and the Jordan Brand.
The funds will support a dedicated personal finance specialist, who will work to develop a curriculum in collaboration with high school teachers to teach financial Classes.
“This grant has the opportunity to change the financial trajectory of historically excluded communities across the United States,” said Tori Mansfield, NGPF Senior Program Manager, who leads this grant initiative in a press release. “Students will graduate understanding how to maintain good credit, invest in the stock market, and prepare financially for life after high school.”
The grant would also help fund student investment clubs.
Financial equity and Empowerment (FEE) Grant recipients will go. to students attending New York City public schools; Philadelphia Financial Scholars, Charlotte-Mecklenburg Schools; Fulton County Schools (Atlanta, Ga.); Guilford County Schools (Greensboro, North Carolina); and the Detroit Public Schools Community District. The schools were selected because of their large BIPOC student populations.
“We are amazed by the generosity of Michael Jordan and the Jordan brand, which will increase access to this essential course and build financial capability for the next generation,” said NGPF co-founder Tim Ranzetta.
This grant to the NGPF came through Michael Jordan and Jordan Brand’s $100 million 10-year Black Community (BCC) commitment. Launched in 2020, this joint commitment aims to create opportunities to foster financial equity and literacy in Black communities through investments focused on economic justice, education, narrative change and social justice, according to the ‘organization.