Winston-Salem State University (WSSU), a four-year institution, is a historically black university (HBCU) located in Winston-Salem, NC. The college enrolls approximately 4,770 students.
The original MSFCP was launched in Fall 2023 targeting students in the university’s financial management program. From 2023-2024, WSSU provided one-one-one financial coaching to over 50 students.
WSSU Team
Dr. Terrance Martin, Project Director
Jaceda Cherry, Financial Pathways Coach
WSSU Course Based Model
Winston Salem State University has incorporated MSFCP™ into the college’s Principles of Financial Management course. This three-credit course is offered to students matriculated in Business and Finance programs. The course is taught by a full-time professor in the finance department who has taught the course for several years.
To meet the tenets of MSFCP™, the college has integrated one-on-one financial coaching into the curriculum as a mandatory component of course participation. The course is offered in-person with a maximum enrollment of 40 students. Students engage in financial coaching with staff from Financial Pathways of the Piedmont (FPP), a local nonprofit organization whose mission is to provide financial wellness programs to the local community.
WSSU Innovative Practices
Financial coaching is a required component of the Principles of Financial Management course. As the coaching is provided by a local nonprofit FPP, the university and the FPP developed a creative way to schedule student coaching sessions, using a scheduling App. Through the App, students are given a calendar link to register for coaching sessions which are conducted either virtually or in-person on campus.
WSSU has been very active in promoting MSFCP across the campus in a variety of ways including in-classroom marketing, and through events hosted by student affairs, campus life, the student activity center, Greek life, the athletics department and career services. To bring MSFCP to the greater community and demonstrate the importance of financial wellness for WSSU students, the college utilized staff from Vanguard and local banks, including JPMorgan Chase, and credit unions as guest speakers.
WSSU has been a leader in encouraging students to learn about making investments, although this is not a required program metric. Many students have opened an investment account by the time they complete the Money Smart program.
Progress to Date
For the 2025 Fall Semester, WSSU enrolled 34 students. 25 completed the course and participated in at least two financial coaching sessions for a completion rate of 73.5%. Other milestones include:
- 100% created a budget
- 100% achieved a financial goal
- 40% increased their credit score while participating in MSFCP with an average increase of 25 points
- 60% increased their savings while participating in MSFCP with an average savings increase of $919
- 24% decreased their debt while participating in MSFCP with an average debt reduction of $735