Additional $40,000 from Citi to Expand LIFT Program
July 25, 2011:
Professor Donna Little and students in the LIFT program.
Menlo College and Citi Enter Next Phase of the Financial Literacy Initiative with $40,000 Grant
Menlo College and Citi announced that additional funds have been allocated for “Learn and Invest for Tomorrow “(LIFT), an innovative financial education pilot program to help prepare students, including a significant percentage of first-generation college students and a group of local high school seniors, to manage their own finances as young adults.
President James J. Kelly is especially proud of the program, citing it as “one of the most successful programs we’ve ever executed.” In fact, the program has been incorporated as a 1-unit requirement for all incoming freshman at Menlo College in the fall semester. As a direct result of the successful Citi-funded pilot project in 2010-11, the “Introduction to Personal Finance” course, based upon Citi’s Financial Education Curriculum and augmented by materials compiled by Menlo College’s business faculty, will be required of all Menlo College freshmen and new transfer students in the 2011-2012 year.
“Learn and Invest for Tomorrow” pilot provides a model program for the Greater Bay Area’s high schools and community colleges
The program is coordinated and taught by Associate Professor Donna Little, Director of the Center for Financial Literacy. Student comments from the initial pilot program included: “I learned a lot about how to plan for my financial future. Everything we talked about was very interesting. Professor Little was very enthusiastic during class and was always open to our opinions.”
Menlo will continue to offer the course to a group of high school seniors from Woodside High School. In addition to the lessons in financial literacy, the students receive valuable exposure to the college experience, helping them make a more informed decision when considering what to do after graduation – and ultimately increasing enrollment in postsecondary education.
Another benefit is that the participants will indirectly increase their family members’ knowledge of finance and money management. The project is in keeping with Citi’s goals of assisting low-income and underserved students with getting to college, staying and succeeding. It provides important “best practices” for developing a financial literacy curriculum that can be replicated by other colleges and organizations. In this way, Menlo College continues to lead as “Silicon Valley’s Business School,” committed to sharing academic excellence and partnering with the community.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at http://www.citigroup.com or www.citi.com.
About Menlo College
Menlo College, Silicon Valley’s Business School, was established in 1928. It is a private, 4-year, accredited, residential college located in Atherton, California. Menlo College’s mission is to develop future leaders through a liberal arts-based business education that integrates academic study and fieldwork in a Silicon Valley environment unmatched in its potential for innovation. www.menlo.edu