Financial Funding Priorities
| Name | Description | Cost |
| Financial Literacy Initiative | The Finance department teaches a course on “Investments and Financial Literacy” where students learn financial survival skills such as how to manage money, budgets, debt including student loans, retirement planning, insurance, investments, etc. The course is open to all university students irrespective of their major or level. We started offering the course in Fall 2014 and are gradually increasing the number of sections, depending on funding availability, to accommodate more students without increasing class size. At the current time, we have 5-6 sections with about 200-250 students. We believe that it is essential for all students to graduate with basic Financial skills. That is why this course provides basic and intermediate skills for students to know how to manage personal finances. | $10,000 per section per semester. |
| Funding for Credit Corps | Credit Corps is our newest student-run and faculty-advised organization that requires funds to operate. Since it is in its early stages, the management fee from the VT Foundation is small. The department and the college provide partial funding, but the Credit Corps requires a lot more. | $10,000 per year for Credit Corps. |
| Department Excellence Fund | The department has many ongoing expenses, including office supplies, copying, software, and even scholarships. In addition, faculty like to give handouts so that students do not need tablets and computers in class that can be distracting. Also, faculty travel to conferences to present their research and for learning from others. An excellence fund allows the department to fund such operational expenses. | $100,000 as an endowed fund. |
| Bloomberg Terminals | We have a subscription for 12 Bloomberg terminals. Four terminals are with BASIS, 2 with SEED, and 6 in the Computer lab. Bloomberg terminal is an indispensable data source for anyone connected with the financial markets, such as traders, investment bankers, mutual fund managers, hedge fund managers, etc. This is an essential tool and a strong line on a student’s resume. All Finance students are expected to get certified on Bloomberg before graduation. |
$70,000 per year. |
| Student Scholarships | The Finance department has very few scholarships for students that excel in Finance. The terms for the selection of students can be laid down by the donor based on the student's field (real estate, banking), performance (GPA), etc. Purpose: To encourage students to major in Finance and to reward outstanding students. |
$2,000 per scholarship per year. Or an endowment of $100,000 that will generate about $4,000 a year. The scholarship(s) will be awarded at the Awards banquet each year. |
| CFA Scholarships | The Finance department is encouraging graduating seniors to take CFA Level I exam as a means of distinguishing themselves in the job market. The CFA charter is highly valued for many investment-related jobs. However, the cost of the CFA exam, along with supplementary materials is in excess of $2,000 besides the extra academic effort that is required to prepare for the exam. The high cost, especially for students, is a deterrent. We believe that scholarships of $1,500 each will make the cost more reasonable and create an incentive for more students to take the exam. If appropriate, a donor can lay down additional criteria for selection of students for this scholarship. Purpose: To encourage students to take CFA Level I exam. |
$1,500 per scholarship per year. The scholarship will be awarded at the Awards banquet every year. |
| Funding for SEED, BASIS | These student-run, faculty-advised organizations require funding for visits to New York, Chicago, and Northern Virginia. | $10,000 per year, each for SEED and BASIS. |
| Faculty Support - Summer Grants | The university employs regular faculty for an academic year, that is, from mid-August to mid-May. High-quality faculty expect to be funded during the summer for continuing to work on their research. The college provides limited support to some faculty, which is inadequate to retain faculty. |
$20,000 per year for a faculty member. |
| Finance Club | The Finance Club is a voluntary organization for Finance majors that organizes social get-togethers, invites speakers, and promotes interaction among Finance majors. We want to encourage the Finance Club and similar voluntary student organizations. Purpose: To encourage Finance students to network. |
$5,000 per year for operation of the club. |
| Funding for Experiential Learning Programs | The Finance department supports experiential learning programs such as SEED and BASIS. The programs are beneficial for students in the investments field because they provide hands-on training to a selected group of smart, disciplined, and committed high-quality students. These students find jobs in the best investment banks, corporations, and consultancy organizations in the U.S. while successfully competing against graduates from better known schools. We want to expand experiential learning to corporate finance and banking. | NA |
| Finance Academic Speaker Series | Academic speakers from other universities are invited to visit the department to present their research, meet with the faculty, and meet with doctoral students. All of the speakers are from reputed universities such as Chicago, Northwestern, Michigan, Pennsylvania (Wharton), and UNC. Purpose: Interaction with visiting academic speakers is necessary to foster an intellectual environment in the department where faculty continue to produce high quality, valuable, and high impact research. |
$10,000 per year. |
| Finance Visitor Series | Finance alumni are invited to campus for a day. The visitors meet with class(es), administrators, and students in an informal setting. These visitors are essential for students in the Careers in Finance course so that the students can get a real-world perspective on career opportunities and skills required. Purpose: It allows the students to initiate relationships with alumni; students learn about the realworld environment; the administrators learn about the strengths and weaknesses of the existing program; and the alumni get an opportunity to assist VT students. |
$5,000 per semester or $10,000 per year. |
