Jay-Z's Shawn Carter Foundation launches initiative to help HBCU students manage their finances

Jay-Z’s Shawn Carter Foundation is lending its efforts to students at historically Black colleges and universities. It partnered with Wharton School of Business at the University of Pennsylvania and Toyota North America for an educational financial initiative, Champions for Financial Legacy, which will provide HBCU students with the tools and resources to manage their finances the right way.

Set to go live in spring 2025 at Lincoln University, Norfolk State University and Virginia State University, the initiative will teach students about budgeting, market risks and returns, mutual funds, credit scores, stock markets and more. More schools will be helped in the future.

"Every day at the Shawn Carter Foundation, we dedicate ourselves to uplifting students and communities that are underserved," said Gloria Carter, Jay-Z's mother and co-founder of the Shawn Carter Foundation. "To launch a financial education program that will reach more students and communities, along with dedicated partners like Toyota and the Wharton School of Business, is a vision we are finally seeing come to fruition. We are so excited to see the incredible impact of CFFL unfold and look forward to its growth."

"One way to strengthen the resiliency of middle-class households is to increase their ability to generate wealth," added Wharton School professor Dr. Keith Weigelt. "I thank both the Shawn Carter Foundation and Toyota for their foresight in addressing a long-neglected social disparity."

Copyright © 2024, ABC Audio. All rights reserved.