Coming to college is stressful for a number of reasons, from making new friends to juggling classes. However, handling financial decisions shouldn’t be one of them, especially with the help of Cal Poly’s newest financial literacy club. Throughout campus, Layla Wolfe noticed that not every student has the confidence or knowledge to manage their finances in order to plan for the future and make the right choices today. She decided to do something about it.Â
Layla Wolfe, a second-year Economics major and Law and Society minor, realized that Cal Poly had a drastic economic gap. According to a 2017 study done by Opportunity Insights (formerly The Equality of Opportunity Project), 67% of Cal Poly students come from the top 20 percent of median family incomes, meaning that one-third of students were left in the dust when it came to getting a jump on financial matters. Although this study’s data is nearly ten years old, the effort to bridge the economic gap at higher educational institutions–including Cal Poly– is ongoing. Welcome to the Cal Poly Economic Education Initiative, better known as EEI.
At the beginning of this spring quarter, Layla launched the EEI with weekly meetings on Tuesday evenings, intended to not only educate any Cal Poly student who wants to become more financially literate but also foster a welcoming community.
“I created [The Economic Education Initiative] to spread financial awareness and financial literacy, especially in history and political events, and just like resources to help people who could have that leg up to be on the same playing field as someone who went to private school, or a very privileged community, to kind of make it more equitable long term,” Layla remarked.
As the club’s founder and president, Layla needed a sidekick to help her launch the initiative, and second-year Economics major Irina Bryner was the perfect choice.Â
Irina stated that “EEI is important because it is difficult to be financially informed without the correct resources. Many college students struggle with budgeting and finances because it’s not a topic of discussion in school curriculum.”
“We hope to not only educate students on financial literacy but also learn how their class and financial status are affected by the economy,” she continued.
EEI is just getting started! In this coming fall quarter, Layla and Irina plan to host classroom presentations and raise more awareness in an effort to get more people to join the organization. Layla hopes to provide students with vital resources for college students in California, such as Cal Grants, Cal Fresh, and housing forms. Long-term, she aims to establish a more solid foundation for community involvement through volunteering with shelters and other community resources.
Although the year is almost over, EEI will continue to raise awareness among Cal Poly’s students that they’re here to help with financial education and resources. You can find their Instagram @calpolyeei or pop on down to one of their meetings at Building 5, Room 100 from 5-6 p.m. every Tuesday.