ATHERTON, Calif.--(BUSINESS WIRE)--In an effort to address the severe lack of basic financial literacy – particularly among young and low-to-moderate income (LMI) populations – Menlo College and Citi today announced an innovative financial education pilot program to help prepare students for the many financial decisions they face in their lives, including one of the most important: whether or not to attend college.
“We are thrilled to partner with Menlo College in this innovative program”
Through the program, called “Learn and Invest for Tomorrow,” Menlo College is offering two six-week courses to high school seniors from nearby Woodside High School. The course, taught on campus by Menlo College professors and Citi executives – under the leadership of Donna Little, Associate Professor of Accounting and Finance – provides participants with the basics of financial literacy, including budgeting and saving behaviors, banking products and services, using credit wisely, and how to recognize and avoid predatory lending and investment schemes.
The course is also open to Menlo College freshmen to help ensure they succeed in their pursuit of a college degree and make more informed financial decisions as they grow in their careers and their lives. Students who complete the course, including from Woodside High School, earn one unit of college-course credit.
In addition to the lessons in financial literacy, the Woodside High School students receive valuable exposure to the college experience, helping them make a more informed decision when considering what to do after graduation – and ultimately increasing enrollment in postsecondary education. Upon completion, the project will serve as a model for implementation in high schools and community colleges in the Bay Area and beyond.
Menlo College President G. Timothy Haight said: “The past eighteen months have demonstrated the need for all Americans to be financially literate. Making the right financial choices will determine whether one will achieve financial independence. We are very proud to have Citi join us in this unique pilot program, ‘Learn and Invest for Tomorrow,’ to better prepare students in navigating the future financial currents."
“We are thrilled to partner with Menlo College in this innovative program,” said Rebecca Macieira-Kaufmann, President of Citibank California. “Financial literacy and a college education are integral to a successful and enriching life, and we strongly support Menlo College’s effort to increase awareness of and access to both.”
The program promotes personal financial literacy among the participants and by extension their families, many of whom will acquire the knowledge from the students who complete the course.
Hanna Malak, President of the Menlo College Student Government Association, said: “On behalf of Menlo College students, I am excited that this program is going to be provided at Menlo. It will benefit my generation immensely because we face such challenges in financing our education due to the economic crisis in the economy. At this stage in my life financial guidance is difficult because I'm on my own and I am financially responsible for the first time in my life. Financial literacy is something that everyone – particularly students – should understand. I think that we are very fortunate to have Professor Donna Little instructing this program because of her experience, expertise and dedication to teaching.”
About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
About Menlo College
Menlo College, Silicon Valley’s Business School, was established in 1928. It is a private, 4-year, accredited, residential college located in Atherton, California. Menlo College’s mission is to develop future leaders through a liberal arts-based business education that integrates academic study and fieldwork in a Silicon Valley environment unmatched in its potential for innovation. www.menlo.edu