TALLAHASSEE, Fla. — Students in the Society for Financial Education and Professional Development Inc.
(SFEPD) have secured funding for a research study designed to measure how financial
education spreads through student communities and networks.
The Ripple Effects study examines how financial knowledge gained by students extends
beyond the classroom and influences the financial behaviors and well-being of people
in their surrounding communities. Researchers will analyze whether financial education
among students at Florida A&M University and other historically Black colleges and
universities is associated with stronger financial habits across their peer and family
networks.
Inger Daniels-Hollar, Ph.D., assistant professor and principal investigator on the grant, said the study will
allow researchers to evaluate how financial education at FAMU and other HBCUs creates
measurable change beyond campus.
“This project will help us assess whether educating FAMU and other HBCU students in
financial decision-making leads to improved financial behaviors and financial well-being
among the people they influence, families, peers and community members,” Daniels-Hollar
said. “Having a principal investigator from FAMU reflects how students from the School
of Business and Industry are leading the effort of community uplift through financial
education.”
Students and SFEPD ambassadors pose following a campus financial education session
designed to expand access to personal finance resources and strengthen financial decision-making
skills among the FAMU community. (Photo Courtesy: Inger Daniels-Hollar)
SFEPD student ambassadors serve as the primary educators and outreach leaders for
the initiative. These ambassadors teach personal financial management principles to
fellow students and community members through workshops, classroom presentations and
campus outreach events.
Laurie Accede, a third-year accounting student from Miami and an SFEPD ambassador, described her
involvement in the program’s outreach efforts.
“I’ve done tabling, which includes hosting a table in front of the School of Business
and Industry and passing out materials about credit, budgeting and other SFEPD resources,”
she said. “I’ve also given presentations in SBI classes and for local Tallahassee
organizations, as well as during spring preview for visiting students and parents.”
Accede said the study highlights the importance of financial literacy, particularly
in today’s economy.
“Programs like this are really important to teach financial literacy,” she said. “It’s
important that people gain the skills to properly manage their money. Building these
skills during college helps them transfer into their careers after graduation. Generational
wealth is especially lacking in the African American community, and programs like
this help close that knowledge gap.”
Ramona Copeland, a second-year business administration student from the metro Atlanta area and an
SFEPD ambassador, said the program makes financial education more accessible.
“Everyone has some type of relationship with money,” Copeland said. “It’s important
to know how to make your money work for you and not become a hindrance to your development.
Programs like this provide education behind financial concepts that can be difficult
to grasp and not always accessible to everyone.”
Copeland said her experience as an ambassador has shaped her academic and career goals.
“Upon enrolling at FAMU, I was a business administration major, but now I have a finance
concentration because I want to go more in depth on the topics, I’m teaching others,”
she said. “I want to continue sharing financial education in the future as a financial
adviser or planner. I don’t think I would be as passionate about spreading financial
knowledge if it weren’t for the SFEPD program.”
The Ripple Effects study is funded through a partnership between the National Endowment
for Financial Education and the FINRA Investor Education Foundation. Each organization
contributed $100,000, bringing the total investment in the research to $200,000.
University leaders say the study reflects ongoing student-led efforts to expand financial
literacy and community engagement through education and outreach.
SFEPD student ambassadors stand with a student group during a financial literacy mentoring
session at Florida A&M University, where ambassadors shared guidance on budgeting,
credit management and wealth-building as part of the Ripple Effects initiative. (Photo
courtesy of Inger Daniels-Hollar)
Media Contact:
Ashley Flete
Senior Communications Specialist
ashley1.flete@famu.edu