Spelman students participate in pilot program aimed at eliminating racial wealth gaps

October 30th, 2023

From left to right: Dr. Venetta Coleman, the director of Institutional Effectiveness and director of the Quality Enhancement Plan at Spelman College, and Korene Smith, the director of Fintech in Action, discuss a new pilot program that aims to teach college students about investing and building generational wealth. (photo courtesy of the guests listed above)

Korene Smith, the director of Fintech in Action, says just because someone has a job doesn’t mean they know how to build wealth. Smith says data reveals the median net worth for Black women under the age of 35 is $101 compared to their counterparts.

To challenge that narrative and create opportunities for young Black women to grow their money, a group of Spelman College students is part of a new pilot program to learn about investing and building generational wealth.

On Monday’s edition of “Closer Look,” Smith and Dr. Venetta Coleman, the director of Institutional Effectiveness and director of the Quality Enhancement Plan at Spelman College, talked with show host Rose Scott about the goals of the program, including how it aims to eliminate the racial wealth gap.