McNeese Reports Successful Financial Literacy Project 

The AccessLex Financial Education Research Grant on “Enhancing Financial Literacy–Individual and Group Financial Decision-Making Effects” was awarded McNeese State University through Dr. Shuming Bai, College of Business dean and professor of finance. 

The primary goal of the project was to help students to decrease debt and increase income and wealth through a series of financial seminars and hands-on trading and investing. Each participant was given $100 to open a live TD-Ameritrade account and participated in both individual and group phases of trading. The project began in the fall of 2021 and was completed in the spring of 2024 with three groups of students 

Participants learned personal finance skills, practiced live trading, changed their behavior by reducing debt and increasing income and took control of their financial well-being. 

The financial professionals who hosted the financial seminars for the students included Michael Eason, former senior vice president of Merrill Lynch, Jason Martinez, senior vice president for First Horizon Bank in Southwest Louisiana, and Denise Rau, former president at Rau Financial Group.  

The three McNeese College of Business faculty members who mentored the student groups with hands-on trading and practices were Bai, Dr. Lonnie Turpin, McNeese professor of business administration and Dr. Akm Rahman, McNeese professor of finance. 

The first two years the project focused on 100 incoming freshmen in underserved populations and the last session was open to all McNeese students. Students came from all six colleges at McNeese. 

“I learned about how important patience and discipline are when investing, because it definitely pays out in the long run,” said Braylon Fuselier, a freshman from Lafayette. 

Students were grateful for the opportunity to master wealth generation at a young age. They are empowered with skills that will benefit them for a long time, according to Bai.  

“It changed their financial lives, by teaching them about debt management and the power of compounding interest,” explained Bai. “All the participants said they plan on sharing the knowledge with family and friends and that McNeese should continue this meaningful project.” 

The biggest surprise came from the impact the project had on the students. Kristina McCaskill, a radiologic sciences major from Sulphur, is the child of a broker who, previously, had no interest in wealth management. This project changed her attitude towards her parents’ profession and now she is interested in financial investment. William Calhoun, an accounting major from Baton Rouge, is a student with a disability and he feels empowered with financial skills that can help him to generate wealth and be financially independent as he graduates from college.