Money has its privileges, at least for the University of Mississippi chapter of Moneythink.
The 2-year-old program started in 2011 by Jon Stephens, a senior economics major, and Mary Margaret Johnson, a senior public policy major, when the group was awarded a $10,000 grant from Morgan Stanley, an investment and wealth management firm.
The grant will be used to seed other Moneythink organizations at nearby colleges and universities, Johnson said.
Moneythink is a national program that recruits and trains talented college student to become mentors to high school seniors by teaching financial life skills and entrepreneurial skills.
“The cost of one Moneythink chapter is $2,000 a year, and the seed money from Morgan Stanley can help new chapters begin their programs and sustain their programs through fundraising,” Johnson said.
With the help of the Ole Miss Moneythink chapter and the university’s McLean Institute for Public Service and Community Engagement, the next Moneythink chapter will be ready at Delta State University by Fall 2013.
The UM chapter held a business plan competition for high school students at 3:30 p.m. April 25 at the Center for Manufacturing Excellence. The event is sponsored by FNC Inc. of Oxford and Insight Park. During the afternoon competition, 11 groups presented five-minute business presentations and were judged on their business’ ability to make revenue, its marketing strategies and business model. The first-, second- and third-place winners received cash prizes.
The Ole Miss Moneythink chapter mentors students at Oxford High School and Lafayette High School. The 22-member chapter has served more than 600 students.
Johnson is the daughter of Lynn and Kim Johnson of Madison, and Stephens is the son of Richard and Charlene Stephens of Pass Christian.