DSU Partners With Charles Schwab To Bring Financial Literacy Institute for 1,500 HS and College Students
DOVER, DE- Delaware State University is pledging to help students build up their financial literacy.
They are partnering with Charles Schwab to start a class for 1,500 high school and college students to learn about the building blocks of keeping their personal finances in check.
The new Finacial Literacy Institute will help students start to build up their credit, investments, and knowledge on how to navigate personal finances.
The company has pledged a four-year grant 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.
Faculty members say they want people to understand that interest can be great if you’re saving money, but can really hurt people when it comes to debt.
They say college and high school students can be particularly vulnerable, pointing to scams that used to target college students, saddling them with 40 percent interest and a permanent stain on their credit score, when payments are not made.
They also say students need to understand that credit cards can carry up to 30 percent interest.
Which can damage credit scores and opportunities for young folks before they get a chance to get ahead.
“It is going to impact every stage of your life if you’re going for a home purchase or a car purchase or anything big a credit score is going to impact that at every stage of your life,” said DSU faculty member Nandita Das.
She says those 1,5000 spots are first-come, first-serve, and are available on the DSU Business School’s web page.
They say they want to expand the program, to more frequent in-person and virtual ‘Money Matters’ workshops if demand calls for it and are encouraging as many people as possible to sign up.