Society for Financial Education & Professional Development (SFEPD) Receives Wells Fargo Grant to Teach Financial Education Program at 11 HBCUs Nationwide
Peer-to-Peer Teaching Initiative Increases Financial Literacy Skills of College Students
ALEXANDRIA, VA SEPTEMBER 8, 2022 – The Society for Financial Education and Professional Development (SFEPD) today announced an education grant by Wells Fargo that will support its signature peer-to-peer financial education initiative at 11 historically Black colleges and universities (HBCUs) nationwide.
In 2017, SFEPD initiated a Student Ambassador Program to train HBCU students to teach their peers about personal finance knowledge and skills. The program targets students at HBCUs to help them manage their finances better and build wealth.
“Without Wells Fargo’s strong support and partnership from the beginning, this successful financial education model might not have gotten off the ground,” said Ted Daniels, SFEPD founder and president. Currently, SFEPD’s Student Ambassador Programs are supported by Wells Fargo in seven states: Maryland, Florida, Mississippi, North Carolina, Georgia, Louisiana, and Texas. The following colleges and universities have Student Ambassador Programs sponsored by Wells Fargo:
- Bowie State University
- Florida A&M University
- Jackson State University
- Johnson C. Smith University
- Morehouse College
- North Carolina A&T State University
- North Carolina Central University
- Southern University and A&M College
- Southern University at New Orleans
- Texas Southern University
- Xavier University of Louisiana
SFEPD is grateful to Wells Fargo for its continued support for the Student Ambassador Program on HBCU campuses and its assistance in launching the first Financial Wellness Center established on an HBCU campus at Jackson State University last year. The center provides guidance and support with one-on-one financial coaching, workshops, and digital resources to help students reach their financial goals.
“When SFEPD began its Student Ambassador Program, we worked with a few HBCUs with support from Wells Fargo,” Daniels said. “Now, SFEPD’s model program is growing quickly as more colleges and universities request our Student Ambassador Program for their campuses. Our goal is to launch this initiative at every HBCU in the future.”
Through the Student Ambassador Program, SFEPD trains student leaders in personal money management concepts to enable them to lead and teach engaging classes to fellow students. The Student Ambassadors gain financial knowledge and skills that give them a foundation for economic success while also helping their peers and the local community. SFEPD’s financial educators and HBCU business school professors work together to help Ambassadors to create workshops and events for students and local communities, and in turn, the Ambassadors develop leadership skills and serve as champions of financial literacy.
Daniels said the feedback from the Student Ambassadors, HBCU administrators, and business school professors is a testament to the successful growth of a program tailored specifically to meet the needs of students from communities of color, many of whom are first-generation learners. SFEPD now has Student Ambassador Programs at nearly 30 HBCUs with more in the pipeline. SFEPD’s objective is to establish Student Ambassador Programs at more than 100 HBCUs in 19 states, the District of Columbia, and the U.S. Virgin Islands.
About The Society for Financial Education and Professional Development
For nearly 25 years, SFEPD, based in the Washington, D.C. area, has served as an award-winning financial literacy and professional development nonprofit teaching financial skills to people of all ages and backgrounds with a focus on underserved communities. SFEPD is directed by President and Founder Ted Daniels, a global financial literacy leader. Learn more at www.sfepd.org. Connect with SFEPD on social media:
Ginie Lynch, Director of Communications