As a fifth-year MFF Fellow, I have witnessed a lot of changes in the Morgan Franklin Fellowship (MFF) Program. I went from being dragged into the program by the manager at the time, my mother, to becoming a very involved intern with MFF.
Back when I started, in 2014, in the early days of the fellowship, there was no formal financial literacy course. The program was simply to pick your stocks and write a few reports. I went in blind and just learned as I went.
But as of January 2018, when the newly developed MFF Financial Literacy Program kicked off, every participant now must apply for acceptance. In addition, incoming students take a short pre-test before the first course begins that is used to provide a base line of their financial literacy knowledge. At the end of the last course, the same test is repeated to see if students have shown improvement. Recently I took the test and did not get every question right (which every fifth-year Fellow should) simply because I did not have the beneficial lessons that the new educational program offers.
Since then I have filled in the gaps in my knowledge, but the new students coming in have a much higher advantage than when I started. Each MFF course has lessons to read, videos to watch and games to play which help the students learn the material. Knowledge checks, surveys, and reflection reports promote student learning. Only students that graduate with an 80% or better at the end of all three courses earn the coveted title MFF Fellow.
As for other improvements and changes within Morgan Franklin Fellowship, another mentor has been added. In addition to the Personal Mentor, which has been a part of the program since I joined – my mentor was my Mom – a Financial Mentor has been thrown into the expanding pool of resources MFF provides for each participant. All potential Financial Mentor must apply to assist in the program, just as the student do. Financial Mentors are required to have a background in business, investing, or finance and be willing to provide lesson reinforcement and support. Students regularly communicate with their Financial Mentor giving student’s the ability to pick a professional’s brain throughout the program.
When I joined Morgan Franklin Fellowship, I was lucky my mother and mentor was a stock-savvy business woman. Now, students entering the MFF program advance through an outstanding educational program supported by two mentors – and luck is no longer necessary!
5th Year MFF Fellow
2018 MFF Intern