Financial Literacy Series on-campus

Jamie Zou '23, Staff Writer

As a continuation of the theme of Loomis Chaffee School’s Martin Luther King Jr. week, “economic justice”, the Center for Diversity, Equity, and Inclusion (DEI) have worked in collaboration with People Rising in Support of Multiculturalism (PRISM) to organize a financial literacy series.
The financial literacy series creates an educational opportunity for the LC community in important fiscal matters that students often are not informed of. By educating students, the overall goal of the series is to address how the lack of financial literacy is a major problem that disproportionately impacts individuals and communities of color.
As a part of this series, the school invites BIPOC alumni to educate students and faculty on financial literacy weekly. Alumni often share their professional experiences, expanding on a specific aspect of financial literacy based on their careers.
As stated on the Loomis website, the Office of DEI’s mission is to “promote and foster an inclusive school community through the celebration of the diversity of its members.” Similarly, PRISM’s purpose is to create “a comfortable space to explore social issues” in a multi-cultural and multi-ethnic community such as the Loomis Chaffee School.
Because the financial literacy series is a project that embodies the spirit of both organizations’ mission statements, Loomis’ DEI and PRISM have worked together to facilitate Q&A sessions and market events through placing posters and flyers across campus.
According to PRISM president Rene Russell ’23, some themes of the series that have been explored in previous weeks include budgeting, investing, credit score and debt, and entrepreneurship.
The objective of the series is simple and important as it is meant “to educate students on how to become financially aware and have better control over their money,” said Rene.
In line with Loomis’ annual MLK celebrations, the school’s mission to honor MLK’s vision was also one of the reasons that the project was initiated.
“Dr. King was a leader who fought for civil rights, but also for economic justice,” Head of DEI Ms. Ashley Augustin said. “Because of the wealth gap that exists in the United States, we want to equip our students with financial literacy skills in celebration of Black History Month.”
The financial literacy series helps not only to implement important information and practices into students’ daily lives but also to honor the work concerning economic equality that MLK has done as part of his fight for the civil rights movement.
“When the lack of financial literacy is preventing people from achieving progress, we as an educational institution within the broader educational system are failing,” said Ms. Augustin. “It is our hope that this series can help change the narrative around financial literacy so that everyone here can become their best selves to serve the common good.”