Successful software entrepreneur Mohit started Flipagram, a music video app that he sold to Chinese investors and then rebranded as TikTok, as well as Bizrate.com and Shopzilla.
Following a pilot program at a tiny charter school in Los Angeles last year, Gifted Savings’ first districtwide program is the Athens program, which serves about 800 children. Students must finish financial literacy courses, reach the age of 18, and start and finish the school year enrolled in order to maintain their individual investment portfolios.
at order to introduce the portfolio program at three schools throughout the nation, Gifted Savings representatives met with Logan Smalley, an Athens resident and executive director of TED-Ed, TED’s youth and education initiative.
Smalley, a graduate of Clarke Central High School, advised Gifted Savings administrators to intensify their efforts and concentrate on a whole school system. He then recommended Athens Clarke County.
Logan informed us that Athens had multigenerational poverty, according to Josh Landay, executive director of the NGO. We’re hoping that this will alter the story.
Logan’s brother, Ben Smalley, is the Clarke County School District’s social studies director. He worked with the high school administrators to arrange for seniors to finish the instructional modules developed by Gifted Savings during 15 minutes of their weekly advisement times. Students will have finished 20 courses that explain each component of their portfolios by the conclusion of the school year.
“I think the program will teach students what investing means, keep them in school and on track, and give them something to look forward to,” said Jennifer Scott, the superintendent of Clarke County schools.
The portfolios are given to the participating kids by Gifted Savings if they fulfill the standards. They are free to buy, sell, and cash out as they see fit.
For the next four years, researchers from the College of Family and Consumer Sciences at the University of Georgia will be monitoring the kids to find out how the program impacts them personally, their families, and the community.
The Athens program is being funded by an unknown donor to cover the $814,000 cost of its first year. Half of the second year’s funding is coming from Gifted Savings, with the Athens community expected to contribute the remaining amount and eventually establish a $16 million endowment to support the program going forward.
According to David Bradley, executive director of the Athens Chamber of Commerce, “I believe the business community in Athens is desperate for a chance to lend a helping hand.” This is the actual deal, despite my initial skepticism. Students will be completely engaged and shown that there is hope for the future.
