The Student Freedom Initiative (SFI) and Stackwell have announced they are expanding their Student Investment Program (SIP). The program is a partnership between the two organizations that provides student participants with financial literacy and investment techniques to prepare them for long-term economic health. Additionally, up to 600 students will receive $1,000 to kickstart their investment journeys.
The program will focus on 10 historically Black colleges:
Alabama State University, Bowie State University, Clark Atlanta University, Fayetteville State University, Florida A&M University, Hampton University, Lincoln University, Morehouse College, Texas Southern University, and Tuskegee University.Keith B. Shoates, president and CEO of Student Freedom Initiative, said that the Student Investment program aims to prepare students to break the cycles of financial instability in Black and other marginalized communities. The SIP program received $1.65 million in philanthropic grants from several companies, including the Prudential Foundation and the Institute for Consumer Money Management.
The expansion of SIP comes after the initial program, launched in 2023, positively impacted students’ financial literacy. A study conducted by Financial Health Network found that out of the 400 participants, 63% of students said they felt more on track to reach their financial goals. There was a
167% increase in students who felt more knowledgeable about investing. Additionally, the report found that the program had a significant impact on women; 84% of the female participants said they felt more confident with investing at the end of the program.Trevor Rozier-Byrd, founder and CEO of Stackwell, said the company looks forward to expanding the program and helping more students achieve financial success.
“Through
SIP, we are breaking down barriers to wealth, equity, economic mobility, and our shared prosperity with increased stock market investment and enhanced financial wellness education,” Rozier-Byrd said. “We could not be prouder of the outcomes we share today and the work we will continue to do alongside SFI and their funding partners.”RELATED CONTENT: Shaq Connects With New Jersey Lottery For $5 Scratch-Off Game