MFF is Dedicated to Increasing Financial Literacy in the US
Morgan Franklin Fellowship (MFF) Financial Literacy Program launched in January of 2018. Designed to give youth the opportunity to learn basic financial literacy concepts, the MFF Financial Literacy Program is a free online educational program. Upon completion of three courses over a nine-month period, students who have achieved an 80% or better earn the title MFF Financial Fellow. Fellows can then apply to the MFF Investment Program. The Investment Program teaches students about investing in the stock market through hands-on investing. Mastery of both programs gives participants a powerful set of tools to help them become financial savvy.
Melissa Gould, Executive Director of the MFF program said the lack of financial literacy is costing Americans billions. “Studies by the National Financial Educators Council show that the lack of knowledge about money management creates risks that can include bank charges, credit card debt interest, high loan interest rates, and investment losses. The best way to prevent this is to provide our youth with access to financial educational programs. And Morgan Franklin Fellowship is looking to be the leader in a movement toward increasing financial literacy.”
“One of the pillars of the MFF program is that 30% of our participants come from a low-income background,” said Gould. Currently there are 36 students in the Financial Literacy Program and 17 in the Investment Program. “We also wanted broad geographic representation,” Gould continued. “The ability to accept students from across the country was the reason we decided to go with an online program. We have students from 10 different states in the 2018 MFF class including both Hawaii and Alaska.”
There are also over 60 mentors in the program who work with both Students and Fellows. “The purpose of the mentors is to provide a combination of motivation, encouragement, lesson reinforcement, and support,” Gould said. “The Personal Mentor is usually someone with a close relationship to the participant. The Personal Mentor serves to encourage the participant on their financial journey. The Financial Mentor is an expert in finance, the stock market or business. The Financial Mentor adds a depth of knowledge in one of these areas through regular communication with their assigned participant,” Gould concluded.
Those interested in applying to the 2019 MFF Financial Literacy Program or becoming a Financial Mentor should visit the MFF website at www.MorganFranklinFellowship.com. Student applications and Financial applications are available online.