Jay-Z’s Shawn Carter Foundation, with help from Toyota Motor North America, is launching the Champions for Financial Legacy (CFFL) program next spring. The program will offer a financial curriculum based on real-world applications. Lincoln University, Norfolk State University, and Virginia State University students will benefit from the program.
The program, which was created in partnership with the Coalition for Equity and Opportunity at the University of Pennsylvania's Wharton School, discusses fundamental topics like credit scores, mutual funds, the stock market, market risks and returns, and budgeting. The objective is to supply students with tools to create generational wealth and give them a roadmap for success. The program incorporates elements of a curriculum developed by Dr. Keith Weigelt, a professor at the Wharton School of Business who has been a longtime collaborator of the Shawn Carter Foundation. The program is Bridges to Wealth, which focuses on financial literacy.
“We are excited to see our partnership with the Shawn Carter Foundation evolve to include this innovative initiative,” said Monica Womack, general manager of diversity & inclusion and community engagement at Toyota, per the release. “One that not only provides resources to HBCU students but also reaches the heart of the community through advocacy for financial literacy.”
The Champions for Financial Legacy program isn’t Jay-Z’s only initiative that helps HBCUs. Last summer, his wife, multi-Grammy Award-winning singer Beyoncé, partnered with Tiffany & Co. to launch a collection based on her Renaissance Tour to fund scholarships for HBCU students. All of the proceeds went to the couple’s “About Love” scholarship. The scholarship is a partnership between Tiffany & Co. as well as Beyoncé BeyFoundation and the Shawn Carter Foundation.
Jay-Z’s mom, Gloria Carter, who is the CEO and co-founder of the Shawn Carter Foundation, commented on the foundation’s newest program:
“Every day at the Shawn Carter Foundation, we dedicate ourselves to uplifting students and communities that are underserved. To launch a financial education program that will reach more students and communities, along with dedicated partners like Toyota and the Wharton School of Business, is a vision we are finally seeing come to fruition. We are so excited to see the incredible impact of CFFL unfold and look forward to its growth.”