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Historic partnership aims to build generational wealth and economic empowerment for HBCU students nationwide
Washington, D.C., June 19, 2025 (GLOBE NEWSWIRE) -- In commemoration of Juneteenth, the Thurgood Marshall College Fund (TMCF) and the Savings Collaborative today announced an ambitious new partnership to launch a comprehensive National Financial Resilience Program at the nation's public historically Black colleges and universities (HBCUs). This groundbreaking initiative builds on initial research findings that revealed both the financial challenges and aspirations of HBCU students, positioning this collaboration as a critical step toward achieving economic justice and building generational wealth.
The collaboration builds on the foundation of research and program development by TMCF's Dr. N. Joyce Payne Research Center and the Savings Collaborative. In 2024, the partners launched a financial well-being course at TMCF's DevCon, engaging over 500 students from 40 HBCUs who demonstrated foundational financial skills and knowledge, as well as a commitment to long-term economic empowerment. Focus groups with students yielded valuable insights that now inform the priorities of the National Financial Resilience Program.
"This Juneteenth, we celebrate not just freedom from the past, but our commitment to building economic freedom for the future," Dr. N. Joyce Payne, founder of TMCF, said. "Our research has shown that HBCU students are already demonstrating remarkable financial resilience, but they need targeted support and resources to fully realize their potential for building generational wealth. This partnership represents a transformative opportunity to address the systemic barriers that have historically limited economic advancement in our communities."
The initiative addresses critical findings from the organizations' preliminary research, which revealed that over two-thirds of HBCU students face significant financial challenges, with education, housing and transportation costs serving as primary stressors. Despite these challenges, the research also highlighted students' strong commitment to building savings and achieving financial stability.
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Barbara Freeman, founder and CEO of the Savings Collaborative, emphasized the program's potential for long-term impact: "Financial resilience isn't just about managing money, it's about creating pathways to opportunity and breaking cycles of economic inequality. HBCU students represent some of our nation's most talented and determined future leaders, and this partnership ensures they have the tools and support needed to achieve their financial goals and create lasting wealth for their families and communities."
The National Financial Resilience Program will feature several key components:
- Comprehensive financial education curriculum: Evidence-based programming covering budgeting, savings, credit management, and investment strategies
- Peer-to-peer learning networks: Student-led discussion groups and mentorship opportunities
- Career and entrepreneurship support: Resources connecting financial wellness to career development and business creation
- Policy advocacy: Research-informed initiatives to address systemic barriers to financial security
- Technology integration: Digital tools and platforms to enhance accessibility and engagement
The program will initially launch at select TMCF
member institutionsbefore expanding nationwide. The collaboration represents a significant investment in the economic futures of HBCU students, aligning with both organizations' missions to create sustainable, impactful solutions for historically underserved communities.
About the Thurgood Marshall College Fund
Established in 1987, Thurgood Marshall College Fund (TMCF) is the nation's largest organization exclusively representing the Black college community. TMCF member schools include the publicly supported historically Black colleges and universities, predominantly Black institutions and historically Black community colleges, enrolling nearly 80% of all students attending Black colleges and universities. Through scholarships, capacity building and research initiatives, innovative programs and strategic partnerships, TMCF is a vital resource in the K-12 and higher education space. The organization is also the source of top employers seeking top talent for competitive internships and good jobs. TMCF is a 501(c)(3) tax-exempt, charitable organization. For more information about TMCF, visit www.tmcf.org.
About the Dr. N. Joyce Payne Research Center
The Dr. N. Joyce Payne Research Center of TMCF conducts evidence-based research and develops innovative programs to address critical societal challenges, with a focus on economic security, education, health, policy, and social well-being. The Center emphasizes the contributions of public HBCUs in driving sustainable, impactful solutions.
About the Savings Collaborative
The Savings Collaborative is a nonprofit organization dedicated to building financial resilience and generational wealth. Through innovative programming and community partnerships, the organization works to address systemic barriers to financial security and create pathways to economic empowerment for underserved communities.
Additional resources:
CONTACT: Dr. Barbara Freeman, Founder
Savings Collaborative
970-900-6785
