OBC Recognizes Financial Literacy Month
Financial Tips To Survive During COVID-19
The COVID-19 crisis has forced schools and universities across the nation to close their doors in an attempt to stop the spread of the Coronavirus that’s affecting people across the world. We are witnessing the major financial repercussions of schools and businesses closing their doors to keep their communities safe, and experts are concerned that these closures could hit historically black colleges (HBCUs) even harder.
HBCUs are typically smaller institutions that rely heavily on tuition to stay out of financial trouble. Financial trouble at a HBCU could mean losing accreditation, and accreditation is critical to recruiting students. Overall, HBCUs have less money to work with, and a downturn in the economy can hit them a lot harder than other colleges and universities. But it isn’t just the institutions themselves; these closures can negatively impact the student body of HBCUs too.
As HBCUs have closed their doors to prevent the spread of COVID-19, many have transitioned to online coursework to ensure students can continue their education without major interruption. However, the technology and WiFi necessary to complete online assignments isn’t always readily available for students that are typically attending campus classes to complete their studies. According to theconversation.com, “75% of HBCU students are eligible for Pell Grants for students from low- to middle-income families.”
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In times like these, financial literacy has never been more important, both for the HBCUs, students, and communities that surround them. Be proactive and diligent in researching your options and ways to get help financially when needed. The new stimulus bill has been a hot topic of discussion as we see the financial impact of businesses and universities closing their doors, but there are other practices you can utilize to prepare yourself for changes to your finances and surviving this global crisis. Join our #OneBigCommunity as we provide scholarship, inspiration, and guidance leading up to the Orange Blossom Classic. Stay tuned for more tips like these:
Do a full assessment of your finances - checking, savings, monthly budget, etc.
Create a list of necessary bills and a list of bills you can cut if/when needed. Prioritize the lists just in case you need to begin cutting back your monthly budget.
Research each business/utility to find out if they’re offering any kind of billing relief during this time.
Research your state and federal benefits that can be utilized if you’re laid off or experience a reduction of income.
Look for online employment opportunities that you can do from home - if these opportunities make less than a prior job, make sure these opportunities are compatible with any unemployment/other benefits you apply for!
If you find yourself with a surplus of anything - supplies, electronics, or known job openings - share with your community! This is a time to come together (at a safe social distancing range, of course) and lift each other up to get through this.
We are committed to bringing our own #OneBigCommunity together during this time, and we look forward to having a chance to celebrate making it through this tough time during the Orange Blossom Classic on September 6, 2020.
The Orange Blossom Football Classic is proud to spotlight Colonel Gregory Clark this week during Financial Literacy Month!
A native of Abbeville, Alabama, Colonel Gregory Clark has made his mark as an athlete, in service to our nation, and as an ardent leader and financial supporter of his alma mater, Florida A&M University.
Presently serving as President of FAMU's National Alumni Association, Clark has been an avid supporter of the university and Rattler Athletics for well over two decades, and he is a member of the Florida A&M University Sports Hall Of Fame.
Clark has been responsible for raising millions of dollars to provide vital funding for academic programs at FAMU, and to bolster the support and growth of athletics.
In 2016, Clark was named the Alumni President of the Year, by the National Black College Alumni Hall of Fame Foundation, and under his leadership, the FAMU NAA has twice been named the Alumni Association of the Year in 2016 and 2018.
Clark is the recipient of the National F Club's Distinguished Service Award, and was named FAMU Alumnus of the Year by the Mid-Eastern Athletic Conference in March 2019.
During his baseball career at FAMU, the four-year letterwinner helped lead the Rattlers to three Mid-Eastern Athletic Conference titles during the program's dominant run in the 1990s.
Clark was a four-sport letterman at Abbeville High School, excelling in baseball, basketball, football and track, capturing all-area honors in baseball, basketball and football, while earning team MVP accolades in both basketball and football.
Check in with us by hashtagging #OneBigCommunity on social media and tagging our page. How are you making it through COVID-19?