Students will learn skills such as maintaining good credit, investing in the stock market, and preparing financially for life after high school.
Mecklenburg County, North Carolina – Charlotte Mecklenburg Schools He receives a grant to help teach more black and Latino students about financial literacy.
Michael Jordan collaborated with The next generation of personal financeInc., a California nonprofit, to help students learn skills such as maintaining good credit, investing in the stock market, and preparing financially for life after high school.
Unfortunately, not everyone has the foundation to manage money well.
“If your parents knew nothing of this, they would not be able to pass it on to you,” Tori Mansfield, said the Director of the Next Generation Personal Finance (NGPF) Program. “And if their parents don’t know about it, they can’t pass it on to you, etc., etc.”
This is the case for the millions of black and Latino students in high school.
Financial literacy can affect things like knowing how to save for a home or avoiding student loan debt.
“We want to make sure that black and Latino students are aware of that and are also aware of how to manage their finances once they leave high school, so they are ready for the future,” Mansfield said.
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NGPF is on a mission to bridge the gap between students who are willing to handle money.
The nonprofit’s mission is to ensure that by 2030, all students will take a one-semester personal finance course before graduating from high school.
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NGPF provides middle and high school teachers tools and training to teach financial skills with confidence, at no cost. These parts of the training consist of the financial literacy curriculum, including the personal finance, mathematics, and economics combinations. The organization also has Spanish translations.
“Michael Jordan and Jordan Brand gave us a huge amount and the NGPF matches that amount to make sure we get to as many students as possible,” Mansfield said.
Conducted by Investopedia study This shows that when tested on basic financial literacy questions, both Hispanics and Black Americans scored below the national average.
The scholarship will help fund a new position at CMS for a period of three years.
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“An area-wide position dedicated to the professional development of educators and educators who will teach the Economics and Personal Finance class, in addition to the NGPF, provides free curriculum and free professional development,” Mansfield said.
CMS joins at least four other regions across the country that receive the scholarship – and it is estimated to affect nearly half a million students nationwide.
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Affected school districts include Philadelphia Public High Schools, Charlotte Mecklenburg Schools, Fulton County Schools in Georgia, Guilford County Schools in North Carolina, and Detroit Public Schools of Community Schools.
“Our organization has reached out to Charlotte Mecklenburg because it is clear that we know Michael Jordan’s relationship there with his home state,” Mansfield said. “The Charlotte-Mecklenburg Public Schools also recently ensured that all high school students will take one semester of personal finance and an economics course.”
The school systems were also chosen due to their large student population, the proportion of black and Hispanic students ranging from 56 to 95%.