Non-profit org advocates financial literacy for HBCU and POC students

October 13, 2021 - 10:15 AM

NATIONWIDE (BAMM Network) With the lack of learnings and opportunities to build generational wealth, People of Color and Blacks suffer in the long run. This realization drove Cole Mattox to lead First Generation Investors, a non-profit, to help impart financial literacy among students and empower them in building long-term wealth. 

About Us | FGI

Cole Mattox, together with his fellow co-founder, Dylan Ingerman had his "eureka" moment while they were playing a simulated stock market game in their AP Economics class. Despite going to different high schools, they found common ground after noticing that they have little to no personal finance or investment education in their respective classes. They believed that POC students like them must have had the same problem and are stuck in a rut without knowing anything about finance. Learning about stocks and financial literacy made them look into developing their own program that will help the next generation. 

They started off with 3 students who each came back interested and hungry for more. After realizing that their program is something bound to grow bigger, they began reaching out to schools in the Philadephia area with people who are willing to teach students about financial literacy. Currently, the organization is running with more than 150 volunteers who are helping nearly 500 students with the basic concepts of stock ownership through real-life examples. 

Litrato ni First Generation Investors.

They utilize real money, providing the students with $100 investments in mutual funds over the course of eight weeks. Aside from teaching them the necessary knowledge, they also provide their students a list of "safe" investment products. According to Mattox, their students have been cognizant of the market and their portfolios after they graduate. Majority of them even add money to their portfolios from their jobs. 

As of Spring 2021, FGI has been present on 25 college campuses, including Ivy League schools like Cornell University and Massachusetts Institute of Technology and Duke University, and New York University. For Fal 2021, the organization plans to expand to 30 more colleges, including HBCUs and state schools, in order to increase the accessibility of the program for more students. 

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Photo Credit: First Generation Investors Facebook Page

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