Paul Krugman, Nobel laureate and Professor of Economics at the Graduate Center of the City University of New York | CUNY Graduate Center
Paul Krugman, Nobel laureate and Professor of Economics at the Graduate Center of the City University of New York | CUNY Graduate Center
The City University of New York (CUNY) has introduced a financial health course at three of its institutions in collaboration with JPMorganChase. This educational initiative, backed by the Money Smart Financial Coaching Program (MSFCP.org), is available this semester at Bronx Community College, The City College of New York, and Medgar Evers College. The course aims to merge personal financial coaching with education, targeting underrepresented, first-generation, and low-income students to enhance their financial well-being, reduce debt, and boost credit scores.
“CUNY takes seriously its responsibility to prepare our students for all aspects of their futures,” expressed CUNY Chancellor Félix V. Matos Rodríguez, emphasizing the transformative nature of financial education.
The course is part of a broader JPMorganChase initiative to equip students nationwide with financial skills. Nichol King, market director for community banking at JPMorganChase, noted, “Education is the first step on the pathway to a solid financial future. This program empowers students to take charge of their finances, while driving positive academic, career and personal outcomes.”
This financial coaching program is now offered at seven other colleges in the U.S., functioning either as a credit-bearing course for degree students or as a noncredit option for adults in workforce programs. Featuring classroom instruction by professors and guest lectures by Chase community managers, the course prioritizes access to banking resources and promotes financial health, without endorsing specific banking services or products.
JPMorganChase and CUNY's recent collaborations include a financial health summit at Medgar Evers College, expanding on a SUNY Westchester initiative supported by the National Council for Workforce Education (NCWE).
Independent evaluations reveal significant successes among MSFCP participants, with many achieving financial goals and demonstrating improved retention rates in educational programs. Dr. Christal M. Albrecht, MSFCP project director, expressed optimism for the ongoing initiative, stating, “I am very excited and humbled to continue this work with the team of dedicated leaders that served the NCWE Money Smart initiative so capably.”
Students from various other institutions, including Long Island University and Winston-Salem State University, have reportedly benefited from improved financial behaviors, according to MSFCP findings.
CUNY, the largest urban public university in the United States, continues to focus on its mission of providing accessible higher education and facilitating social mobility for diverse student populations.
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