Robinhood Money Drills Kicks Off 2024 With Three New Universities
Florida State University, Coastal Carolina University, and the University of California, Berkeley will introduce financial education coursework with support from Robinhood Money Drills
Robinhood Markets, Inc. is launching Robinhood Money Drills with three new universities, including Florida State University, Coastal Carolina University, and the University of California, Berkeley.
As part of this four-year program, Robinhood Money Drills will provide funding for financial education, including courses and speaker series, for students and student athletes.
Historically, athletes have faced higher rates of financial distress, like former NBA players, 60% of whom have gone bankrupt or are under financial distress within 5 years of retirement.
Through the Money Drills program, Robinhood aims to support fundamental financial education to help prepare athletes early on for a sound financial future before, during, and after their athletic career.
Money Drills will kick off at each university this week with events and speakers sharing more on how the program will come to life on campus.
“By helping open doors to resources and education for college students early on in their financial journey, we hope to better equip them for the future,” said Mary Elizabeth Taylor, Vice President of International Government and External Affairs, Robinhood Markets, Inc. “We’re proud to announce our work with Florida State University, Coastal Carolina University, and University of California, Berkeley to bring access to financial education to even more students.”
“The Stavros Center at Florida State University and Robinhood Money Drills share common goals of educating and empowering students, especially student-athletes, to better manage their financial futures,” said Dr. Joe Calhoun, Director, Gus A. Stavros Center for the Advancement of Free Enterprise and Economic Education at Florida State University. “We are proud to create a new partnership to expand opportunities for FSU students to acquire skills to enrich their lives and build a strong foundation for financial success. This event will celebrate our new relationship and commitment to financial education.”
“Financial literacy has become a more critical skill for collegiate athletes with the advent of Name Image and Likeness (NIL),” said Matt Hogue, Athletics Director at Coastal Carolina University. “We are grateful and excited that Robinhood Money Drills is being added to our curriculum and this asset will help advance the fiscal knowledge and understanding of our athletes.”
“This new partnership aligns with what I’ve been teaching our student athletes for over two decades: to understand agency in professional sports, be careful stewards of their earnings, and be active philanthropists in their communities,” said Stephen Etter, a continuing lecturer at Berkeley Haas who is currently teaching the class Financial & Business Literacy for the Professional Athlete. “It’s even more critical today that we continue to help our athletes understand their finances, as many are earning significant incomes during college through NIL. This partnership will help me to expand this course and open it up to a large portion of UC Berkeley student athletes.”
The Money Drills program will begin this semester at Florida State University and Coastal Carolina University, and the program with the University of California, Berkeley will start this summer.
These additions bring the total number of Robinhood Money Drills initiatives to eight schools across the country, including Texas Christian University, University of Memphis, Kansas State University, West Virginia University and Duke University.