IWU Receives $10,000 Financial Literacy Grant

Indiana Wesleyan University is one of three colleges in Indiana chosen to receive a $10,000 grant as part of the Bank One Financial Literacy on Campus Program. Bank One and the Independent Colleges of Indiana Foundation made the selections.

The money will be used to produce a personal finance course that will be offered to students at IWU and Lakeview Christian High School. The course also will be adapted for a virtual course at two Marion cyber cafes, Tree of Life Christian Bookstore and Beatnik's Cafe.

Other partners in the financial literacy program are the City of Marion and the Grant County Economic Growth Council.

Darren Campbell, a 1995 graduate who is the co-owner of Tree of Life, said he has been working with IWU to purchase computers and high-speed Internet service to launch the cyber cafe.

"It think it's something that everyone should have an opportunity to learn from," Campbell said. "It would be great for students to be able to learn from people in business." Campbell said he plans to have the computers in operation this month.

Kelly Brown, the Lakeview School principal, said the financial literary course likely would be linked with an accounting or business class.

"It is really to about economics and starting a business and giving them a real life experience," Brown said. "Putting students right along side people who are doing business in this community, that will be a big benefit."

As an incentive, Campbell said he plans to offer free coffee to students who use the program at the cyber cafe in Tree of Life.

"Teaching young people how to manage their money is a priority for Bank One," said Dennis L. Bassett, CEO of Bank One Indiana. "Bank One looks to fund creative programs that address financial literacy in our communities."

Butler University and Martin University, both of Indianapolis, received the other two financial literacy grants.

Bank One is Indiana's largest bank, with nearly 4,000 employees and 180 offices. Bank One Corporation is the nation's sixth-largest bank holding company, with assets of more than $325 billion.

Since 1948, Independent Colleges of Indiana Foundation, Inc., has encouraged increased financial support of independent higher education in Indiana. The foundation supports 30 member institutions.