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University of Akron, Charles Schwab team up on scholarships to encourage diversity in finance program

Akron Beacon Journal logo Akron Beacon Journal 2/26/2021 Craig Webb, Akron Beacon Journal
a close up of a sign: A student walks under a painted balcony marking the 150th anniversary of the University of Akron in UA's Student Union on Tuesday, Oct. 6, 2020 in Akron. [Mike Cardew/Beacon Journal] © Mike Cardew / Beacon Journal A student walks under a painted balcony marking the 150th anniversary of the University of Akron in UA's Student Union on Tuesday, Oct. 6, 2020 in Akron. [Mike Cardew/Beacon Journal]

The University of Akron is looking for a student or two or three with an interest in financial planning.

UA,,along with the Charles Schwab Corp., announced Thursday that it and six other universities will share a pool of scholarship money to encourage diversity among students pursuing careers in financial planning.

The $3.5 million endowed scholarship program is designed to provide financial help and career opportunities for students in so-called underrepresented communities.

The money is being provided by the Charles Schwab Foundation.

Carrie Schwab-Pomerantz, president of Charles Schwab Foundation and senior vice president of Charles Schwab & Co., said the goal is to break barriers for students and ensure that the company's own workforce "mirrors the diversity of our clients and communities in which we work."

Underrepresented students can apply for about $10,000 a year in scholarships for two years. They would also have the opportunity to apply for an internship at Schwab.

“We are pleased to have developed strong partnerships with reputable and established companies such as the Charles Schwab Corporation that provide amazing opportunities and support for our students,” UA President Gary L. Miller said in a statement. “The financial services industry and the university both endeavor to provide opportunities for all students to learn and succeed and this endowed scholarship will assist students for many years to come.”

Other schools participating in the scholarship program include: Arizona State University, Purdue University, Temple University, Texas Tech University, University of Arizona and the Virginia Polytechnic Institute and State University.

UA offers a bachelor's degree in financial planning along with a minor in the same field.

“Financial planners do what many people don’t like doing for themselves — figure out how to manage their money,” said Barry Mulholland, Ph.D., assistant professor of practice and director of financial planning programs at UA, in a statement. “By meeting with clients and then helping them determine budgeting plans, investing decisions, insurance needs, retirement plans and other financial to-do’s, they get them on track to meet their money goals.”

To learn more about the financial planning degree program at UA visit uakron.edu/financial-planning. Students now enrolled in UA’s financial planning program can apply by visiting www.uakron.edu/cba/scholarships.

Craig Webb can be reached at cwebb@thebeaconjournal.com.

This article originally appeared on Akron Beacon Journal: University of Akron, Charles Schwab team up on scholarships to encourage diversity in finance program

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