Historically Black Delaware State University has announced the launch of a new Financial Literacy Institute with support from Schwab Advisor Services in partnership with the Charles Schwab Foundation. The company has made a four-year commitment to facilitate the creation of the new program, as well as the expansion of the financial planning curriculum and the renovation of the financial network trading room operated by the university’s College of Business.
The partnership will support the College of Business in expanding its financial management programming for business majors. The tools and resources provided by the new Financial Literacy Institute will allow students to learn more about wealth management, build relationships with industry leaders, explore careers in the registered investment advisor profession, and help foster community outreach. The university is currently in the process of converting its minor in financial planning into a full-fledged financial planning and wealth management degree concentration.
“The Financial Literacy Institute will not just focus on young people while they are attending college,” emphasized Michael Casson, dean of the College of Business. “We begin with programming and counseling to high school students and their families across our primary recruiting area. This engagement continues as new students move through the enrollment and financial aid process, then is interwoven into courses, workshops, certification, experiential learning, and degree offerings while they are here.”
“This partnership is exciting because the need to improve the financial planning and wealth management skills of our students is essential to our core mission of changing their life trajectories,” said Tony Allen, president of Delaware State University. “It is potentially devastating to realize that families of color amass wealth at a rate seven times below that of White families and that in the wake of COVID this gap is increasing. Our education of these young people has to include top-flight training in how to acquire, manage, and grow their wealth, whether they’re becoming teachers, scientists, or joining an independent advisory firm.”
