NASD Foundation Funds Online Learning Tool for Young Investors
Washington, D.C. — The NASD Investor Education Foundation has awarded a grant of $240,829 to Baruch College, The City University of New York to develop an interactive computer-based investment guide tailored to young adults making career choices.
The project, entitled Young Investor Online Guide, will enable users to test investment strategies and will encourage young people to consider investment opportunities when making career decisions. Baruch College will work with Kognito Solutions LLC, an educational software developer, to produce the financial education tool. To identify and reach a substantial number of young adults preparing to enter the workforce, Baruch will partner with the National Association of Colleges and Employers and the Career Services Association of the City of New York.
"Young adults need to know more about their investment opportunities, especially in the early stages of their working lives," said Robert R. Glauber, Chairman & CEO of NASD, who also serves as Chairman of the NASD Investor Education Foundation. "This online tool will allow them to experiment with and manipulate key variables that predict long-term financial security in a simulated environment."
Young adults will learn how to use financial calculators, how to compare investment opportunities, how to manage debt and how to consolidate student loans. The Guide will be offered online and in a CD format at college career development centers and libraries and at members of the National Association of Colleges and Employers.
"We think that the online environment is the best place to engage young adults because they are so comfortable in cyberspace," said James Coyle, Project Principal and Associate Professor in Marketing at Baruch. "In this environment, we believe the Guide will enhance their abilities and motivate them to consider important long-term financial security goals."
The NASD Investor Education Foundation, established in 2003, supports innovative research and educational projects that give investors the tools they need to better understand the markets and the basic principles of financial planning. The Foundation has awarded more than $2.4 million in total to organizations for educational programs and research projects targeting the underserved segments of the population. For details about grant programs and other new initiatives of the Foundation, visit www.nasdfoundation.org.
NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation. NASD believes that understanding should precede investing - and that education is often the best form of investor protection. NASD's broad range of investor education programs include Investor Alerts, brochures and online resource guides on such critical topics as mutual fund class shares and 401(k) and college savings plans. This information is distributed through its Web site, www.nasd.com, printed materials and Investor Forums.