Students will learn skills such as maintaining good credit, investing in the stock market, and financial preparation for life after high school.
MECKLENBURG COUNTY, North Carolina — Charlotte-Mecklenburg Schools is receiving a grant to help teach more Black and Hispanic students about financial literacy.
Michael Jordan has partnered with Next Gen Personal Finance, a California-based nonprofit, to help students learn skills like maintaining good credit, investing in the stock market, and financial life readiness. After high school.
Unfortunately, not everyone has the basics of good money management.
“If your parents don’t know it, they can’t pass it on to you,” said Tori Mansfield, senior program manager for Next Gen Personal Finance (NGPF). “And if their parents didn’t know, they can’t pass it on to you, and so on, and so on.”
This is the case for millions of black and Hispanic high school students.
Financial literacy can impact 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 this and know how to manage their finances once they leave high school, so they’re prepared for the future,” Mansfield said.
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NGPF is on a mission to bridge the gap between students who are ready to handle money.
The non-profit organization is on a mission to ensure that by 2030, all students will complete a semester-long personal finance course before graduating from high school.
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NGPF provides middle and high school educators with tools and training to teach financial skills with confidence, at no cost. These training elements consist of a financial literacy curriculum, including collections of personal finance, math, and economics. The organization also has Spanish translations.
“Michael Jordan and Jordan Brand gave us a substantial amount and this NGPF matches that amount to make sure we reach as many students as possible,” Mansfield said.
Investopedia conducted a study that shows, when tested on basic financial literacy questions, Hispanics and Black Americans both scored below the national average.
The grant will help fund a new post at CMS for three years.
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“A district-level position dedicated to the professional development of teachers and educators who will teach this economics and personal finance course, as well as the NGPF, provides free curriculum and free professional development,” Mansfield said.
CMS joins at least four other districts across the country receiving the grant – and it is estimated to impact nearly half a million students nationwide.
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School districts affected include Philadelphia Public High Schools, Charlotte-Mecklenburg Schools, Fulton County Schools in Georgia, Guilford County Schools in North Carolina, and the Detroit Public Schools Community District.
“Our organization has reached out to Charlotte-Mecklenburg because obviously we know the connection that Michael Jordan has there as a home state,” Mansfield said. “And also the Charlotte-Mecklenburg Public Schools recently guaranteed that all high school students would take a one-semester economics and personal finance course.”
The school systems were also chosen because of their large number of students, and the percentage of black and Hispanic students ranges from 56 to 95 percent.
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