The Bank of America Charitable Foundation has awarded the Clark College Foundation with a $20,000 grant to support a financial empowerment coach.
According to officials at the school, the coach will work directly with students to help them stabilize their finances and increase the likelihood of students meeting their economic, education and career goals.
The grant provides ongoing support within Clark College’s career services department for the most vulnerable students.
Lisa Gibert, president and CEO of the foundation, said the grant assures that a full-time financial coach will remain on staff, allowing the college to continue providing workshops, classroom presentations and individual sessions focusing on how to budget, balance a checkbook, set long-term financial goals and understand credit cards, credit scores and loan repayments.
“The full-time coach has been highly valuable for our students,” said Gibert. “The coach assisted 64 students in one-on-one sessions over a seven-month period, held 27 different budgeting workshops for scores of other students and conducted specialty workshops for the Veterans Resource Center and the Pathways Center.”
A budgeting course delivered by the financial literacy coach was added to the school’s college essentials course last year. All students working toward an associate in arts and associate of arts direct transfer degrees are required to complete the course.
“Bank of America understands that financial fluency and empowerment are key drivers for future financial mobility and success,” said David K. Reiter, senior vice president at U.S. Trust Bank of America Private Wealth Management in Vancouver, in a press release. “That is why we are proud to support Clark College Foundation on this important decision to retain a financial coach. When individuals feel financially secure and are able to achieve their financial goals, communities are made stronger and we all benefit.”
