Oakland, Calif. – Twenty-five high school seniors from underserved communities in the Bay Area are set to graduate from the PG&E Community Financial Education Program, each receiving a $7,000 scholarship. The program, a joint initiative by Pacific Gas and Electric Company (PG&E) and the PG&E Corporation Foundation, aims to equip young minds with essential financial literacy skills, fostering long-term economic resilience and opening pathways to higher education and beyond.
Launched in 2022, the program has consistently focused on providing advanced financial education, covering crucial topics such as personal finance management, capital markets, wealth creation, and investment strategies. This comprehensive curriculum is designed to empower students with the knowledge and confidence to navigate complex financial landscapes.
The educational cornerstone of the program is its partnership with UC Berkeley’s Haas School of Business, renowned for its rigorous academic programs and commitment to fostering future business leaders. Undergraduate students from Haas serve as mentors, guiding the high school participants through the intricacies of financial planning and investment. This mentorship model not only imparts valuable knowledge but also cultivates leadership qualities and reinforces the importance of higher education.
The impact of this initiative is evident in the testimonials of its graduates. Xariyah White, a student at De Anza High School in Richmond, shared how the program has fundamentally shaped her approach to financial decision-making. “It strengthened my understanding of budgeting and taught me how to make informed, responsible choices about my finances, especially as I prepare for the costs of college and life beyond that,” White stated.
Another participant, Mariah McCoy, highlighted the program’s role in igniting her passion for business and providing a clear vision for her academic future. “This program created an on-ramp for me to explore my passion for the business world, while envisioning myself as a UC Berkeley Haas student,” McCoy remarked. “As a scholar in the UC Berkeley Haas Spieker four-year program, I am grateful for the PG&E program and the infinite opportunities they create for me to receive continued mentorship and guidance.”
The timing of this program’s success is particularly noteworthy, coinciding with a significant shift in educational policy. In 2024, California passed legislation mandating personal finance education for high school students, with access to a dedicated course required by 2027 and the subject becoming a graduation requirement by 2031. This legislation positions the PG&E program as a pioneering effort that has laid a strong foundation for broader financial literacy initiatives.
The program’s curriculum, developed collaboratively by UC Berkeley Haas Professor Panos Patatoukas and venture capitalist Jason Miles, founder of Amenti Capital Group, has been instrumental in its success. Miles, with over 25 years of experience in financial services, emphasized the program’s role in expanding access to capital markets. “This program empowers future leaders with early, practical investing knowledge,” Miles said. “This education expands access to capital markets by strengthening the pipeline of future founders and investors shaping the global innovative economy. I am deeply committed to catalyzing generational wealth creation alongside like-minded partners and this exceptionally talented community of students.”
Professor Patatoukas added, “Now in its fourth year, this program highlights the power of early and broad access to high-quality financial education in expanding opportunity and narrowing persistent wealth gaps. I’m proud of what this partnership has achieved and excited to continue driving positive impact for Bay Area youth.”
Over its four-year tenure, the PG&E Community Financial Education Program has supported 96 Oakland-area high school seniors. This year’s graduating class brings the total scholarship funding from PG&E to $800,000, a testament to its sustained commitment to investing in the future prosperity of California’s youth.
The program’s collaborative ecosystem includes Berkeley Executive Education, The Mills Institute at Northeastern University, and Amenti Capital Group, all contributing to its multifaceted approach. The Mills Institute, through its TRIO Programs, plays a crucial role in recruiting students from underserved and first-generation backgrounds.
Vincent Davis, PG&E’s Chief Customer Officer and SVP of Customer Experience, will be a featured speaker at the graduation ceremony. He reiterated the company’s belief in education as a catalyst for economic mobility. “We believe education is a powerful catalyst for increasing prosperity in California,” Davis stated. “By investing in early financial education, we’re empowering young people with the confidence, skills, and resources to build brighter financial futures for themselves and our communities.”
The long-term implications of financial education are underscored by research indicating that intergenerational wealth disparities are influenced by critical factors such as personal savings and investment decisions. The program’s success stories, such as that of Otis Ward, an early graduate who shared his journey in the PG&E short film “Change the System: Building Black Wealth,” exemplify the transformative power of early financial empowerment. Ward is currently pursuing his studies at Stanford University.
**About PG&E**
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), is a vital utility provider serving over 16 million people across 70,000 square miles in Northern and Central California.
**About The PG&E Corporation Foundation**
The PG&E Corporation Foundation is an independent nonprofit organization dedicated to supporting community initiatives.
**About the Haas School of Business, University of California, Berkeley**
As one of the nation’s premier business schools, UC Berkeley Haas has been at the forefront of management education and research since its founding in 1898, fostering a global network of over 46,000 alumni.
**About Berkeley Executive Education**
UC Berkeley Executive Education delivers transformative learning experiences for leaders worldwide, equipping them with the skills to navigate and shape the future of business.
**About Northeastern University**
Northeastern University is a global research institution recognized for its pioneering approach to experience-driven lifelong learning, preparing students for purposeful careers.
**About Amenti Capital Group**
Amenti Capital Group operates as an emerging merchant bank, offering advisory services and venture capital to early-stage technology companies, with a commitment to innovation, integrity, and inclusion.
Original article, Author: Jam. If you wish to reprint this article, please indicate the source:https://aicnbc.com/16957.html
