Birmingham council approves $1 million financial education program

Birmingham City Council, in partnership with Goalsetter and IMC Financial Consulting, on Tuesday approved plans for a financial literacy program to be offered at Birmingham City schools to students wishing to receive financial investment and management coaching stocks.

The million-dollar program will be the first of its kind in the United States when it is implemented, according to the city, with the intention of “pairing grade-appropriate and culturally relevant financial education with a financial account. savings, an investment platform and a school program,” – which is provided by Goalsetter and Goalsetter Classroom.

“Now is the time to ensure that our young people are the most financially prepared and successful generation our country has produced,” Birmingham Mayor Randall Woodfin said in a statement on Tuesday. “We have both a professional and moral responsibility to ensure the academic and financial success of our students. Their participation in our local, national and global economy is essential to the future of our community and country, and it is our responsibility to cement their financial footing as the cornerstone of their financial well-being.

The pilot phase of the program will begin in October at six Birmingham schools and will include classroom teaching, one-on-one financial counselling, monthly financial empowerment fairs and workshops, and a financial app for students by Goalsetter.

The Goalsetter Foundation will also donate stock to Birmingham students provided by its partner organisations, which include companies like Delta, Twitter and Lyft.

“Our job is not just to prepare students for college and careers, it’s to prepare students for life, and that’s what the Birmingham Financial Freedom Project does,” the superintendent said on Tuesday. of Birmingham City Schools, Dr Mark Sullivan in a statement. “This is a one-of-a-kind partnership as the deliverables are based on a 360-degree approach to solving the wealth gap by providing the education, resources and opportunities needed to break the cycle of poverty. poverty and putting people on the road to building. wealth.”

Birmingham schools included in the program are Jackson-Olin High School, Carver High School, South Hampton K-8 School, Hudson K-8 School, Sun Valley Elementary School and Robinson Elementary School, depending on the city.

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“Most initiatives focus their resources only on what is needed to establish a functioning learning environment for students, and unwittingly neglect the faculty/staff and parents/guardians who will cultivate it,” said Isaac M. Cooper, CEO of IMC Financial Consulting, in a statement. tuesday. “We can only give students the foundation they need for future financial success if educators and staff feel more secure in their own beliefs, knowledge, habits and financial goals. And we must be equally vigilant in providing the adults in their homes with the same level of support. »

Geraldine L. Melton