Academy of Finance Students Receive Diplomas, Vital Skills for the Future

The Los Angeles Educational Partnership honored 156 graduates of the Los Angeles Academy of Finance class of 2000 at graduation ceremonies June 15 at the Orpheum Theatre in downtown Los Angeles. Henry Cisneros, president of Univision Communications and former director of the department of Housing and Urban Development, was the keynote speaker for the graduation ceremonies.

The Los Angeles Academy of Finance is an academic high school program that provides students with college preparatory academic courses, technical classes and paid internship opportunities with financial services companies in the Los Angeles area. The program is designed to enhance academic achievement, familiarize students with careers in the financial services industry, and encourage students to pursue college and career opportunities.

"You've met the challenge of a rigorous academic program and learned important lessons about the world of work that will serve you well as you prepare for new opportunities and in college or a career," Cisneros told the students. "You need to thank your parents, teachers and community for having the courage to set up a program like this that shows that when we challenge kids to learn, and support them in their efforts, students from all backgrounds can excel and build a brighter future."

More than 600 students participate in the Los Angeles Academy of Finance on an annual basis. Student coursework includes college preparatory academic courses and technical classes in subjects including accounting, economics, financial planning, and securities operations, and a college course in accounting and corporate finance at the USC Marshall School of Business. Students are also required to serve internships with Los Angeles area companies.

Participants in the Academy program are recruited from at-risk high school students in the LAUSD. 98 percent of participating students are members of ethnic minorities, primarily Latino, and 90 percent meet federal poverty guidelines for free meals. To date, the Los Angeles Academy of Finance has graduated 1,091 students since the program's inception. Academy students have consistently demonstrated higher graduation rates and higher college going rates than non-academy students.

Cisneros told the graduates that the purchasing power of Latinos is expected to more than triple in the next ten years, from $300 billion to $1 trillion. Similar increases will occur in the purchasing power of African-Americans and Asian-Americans.

"In the future, the opportunities for minority people in finance will be tremendous because of the need for people who can relate to the minority communities where this growth will occur," he said. "Many new CEOs will be minorities. The person that succeeds is often not the one who is the smartest, the wealthiest or the most popular, but the one who is willing to work the hardest."

The Los Angeles Academy of Finance is directed by the Los Angeles Educational Partnership under the auspices of the National Academy Foundation and with the support of local financial services companies. The program is run in collaboration with the Los Angeles Unified School District and currently operates at five Los Angeles high schools including Belmont, Manual Arts, and Wilson high schools, the Foshay Learning Center and the Downtown Business Magnet.

"The intent of the Academy of Finance is to open the doors to the possibilities of the future," said Susan Way-Smith, president of the Los Angeles Educational Partnership. "Today's graduates are well prepared to pursue those possibilities, and we wish them well in their endeavors."

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