Page 3 - Payne Research Center ~ Money Matters

P A Y N E C E N T E R . OR G
ABSTRACT
The Dr. N. Joyce Payne Research Center (Payne Center) and the Savings Collaborative have launched a joint initiative to promote financial well-being and generational wealth through an innovative educational program. This Research Brief presents key findings from a Financial Well-Being survey conducted within the context of Historically Black Colleges and Universities (HBCUs). The survey investigates the financial challenges, practices, and aspirations of 573 first- and second-year HBCU students.
Findings reveal that HBCU students aspire to build generational wealth and achieve holistic financial well-being.
Two-thirds reported family struggles linked to limited financial literacy, and over one-third of the survey respondents were first-generation college students. While most students actively save and use credit responsibly, short-term habits may limit progress toward their long-term financial goals. Conclusively, these findings indicate a need for greater support around financial literacy training and opportunities. Also, this research yielded several insights to enhance the Financial Well-Being initiative and improve financial practices across communities of interest.