At the School of Business, our main mission is to prepare our college students to begin or grow their careers and differentiate themselves in the workforce. But it isn’t our exclusive goal.
We also work with Connecticut high schools to ensure that our state’s aspiring youth have the foundation that they need to meet their business and financial goals, as well.
One of the programs I’m most excited about is the School of Business’ Financial Literacy Innovation Program, known as FLIP. The program began in 2019, serving just 20 students. This semester, it drew 140 students to Storrs on Saturdays to learn about financial decision making. The plan is to expand the program to Stamford starting in spring 2025.
The program began with the realization that many high school students were lacking financial knowledge, a problem that could easily derail their futures. Spurred on by the enthusiasm and generosity of our alumni, we welcomed several high schools to participate in the original program. Since then, it has continued to grow.
This year we’ve extended the program from just a spring offering to both spring and fall. We were able to serve some 280 students from more than nine high schools, including Bloomfield, Bristol, Hartford, Windham and Vernon.
One of the highlights of the program is that these high school juniors and seniors are being mentored by UConn business students, who can explain the real-world financial decisions that they make as college students living on limited budgets. Beyond that, they discuss everything from borrowing money to paying taxes to the cost of rent. They also talk about the cost of higher education and the return on investment, as well as the opportunity to start a business at an early age. All these lessons are extremely valuable, but more impactful when delivered by an older peer.
FLIP also introduces high school students to the experience of being on a college campus, something of particular benefit to first-generation students for whom this experience is very new.
Professor Nora Madjar, our associate dean for undergraduate programs, has been deeply invested in FLIP and recognizes the success of the program.
“These high schoolers are now more knowledgeable about bank accounts, credit cards, credit scores and taxes,’’ Nora said. “They are in a great position to manage their finances, and we ask them to share that knowledge with their family and friends as a way to ‘pay it forward.’ ’’
In the School of Business, we want to ensure that the students who come to us do so with eyes wide open and are fully prepared for the next two- to four- years of their growth and education. The FLIP program contributes to that readiness, and we know it makes a difference in the ultimate success of our graduates.
We appreciate the help and support of so many of our alumni and friends in executing this program and ensuring that our high school students are aware of the opportunities that await them.
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