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Students from three HBCUs are set to compete in a Financial Literacy Bowl competition at a conference in Fort Washington, Maryland. A group from Alexandria, Virginia is sponsoring students to attend the Annual Financial Literacy Leadership Conference on Tuesday, Oct. 24 at the Gaylord National Harbor. The conference itself has seminars on how to create wealth, manage credit, budgeting, and the psychological impact of money, on top of the Financial Literacy Bowl competition.
The students came from the Society for Financial Education & Professional Development's (SFEPD) student ambassador program. Participants of the program hailed from 36 different HBCUs and competed for a spot in the Financial Literacy Bowl. The finalists, representing Hampton University, Tuskegee University, and Southern University, will be answering all sorts of financial literacy-related questions.
Ted Daniels, the President and Founder of SFEPD, provided a couple examples of the types of questions the contestants would be expected to answer.
“When you decide to make an investment, do you use a short-term approach [or] a long-term approach,” he asked. He also mentioned that there would be questions dealing with how to manage credit and how to create a budget.
The money knowledge will come in handy especially for the winners. The last students standing will receive prize money from as low as $500 to as much as $1,000.
As the head of the SFEPD, Daniels hopes to flip the script when it comes to financial literacy for Black Americans, specifically Black college graduates. By introducing students to industry veterans, professors, and researchers, Daniels expects to level the playing field. Black college graduates, on average, have $25,000 more in student debt than their white counterparts.
