To boost financial literacy in Historically Black Colleges And Universities (HBCUs), The Shawn Carter Foundation of American rapper Jay Z is rolling out a major initiative.

The Shawn Carter Foundation has launched its champions for financial Legacy program in HBCUs. The Foundation announced the launch in November 2024 at the Wharton School of the University of Pennsylvania.

Providing tools for managing personal finances in the real world, the financial education initiative aimed at empowering students in the Black Colleges and Universities and its surroundings.

The Roc Nation boss whose real name is Shawn Carter in collaboration with his mother Gloria Carter founded the Shawn Carter Foundation in 2003. 

“Every day at the Shawn Carter Foundation, we dedicate ourselves to uplifting students and communities that are underserved,” Gloria Carter said in a statement. “To launch a financial education program that will reach more students and communities, along with dedicated partners like Toyota and the Wharton School of Business, is a vision we are finally seeing come to fruition.”

“We are so excited to see the incredible impact of CFFL unfold and look forward to its growth.”, added the rapper’s mother.

For the financial education program with support from Toyota Motor North America, the duo’s Foundation is teaming up with with the Coalition for Equity and Opportunity.

The Shawn Carter Foundation, which is dedicated to positioning students with socio-economic hardships to further their education, has already provided scholarships to help at-risk youth and donated more than $20 million to community and scholarship programs.

Before expanding to the Historically Black Colleges And Universities, the inaugural CFFL program will kick off in the spring at Lincoln University in Pennsylvania, Norfolk State University in Virginia and Virginia State University.