Illustration: Eniola Odetunde/Axios
Public, an investing app that doubles as a social network, is launching a new program today called "One Team." The goal: teach financial literacy to college athletes.
Why it matters: Now that student athletes can cash in on their name, image and likeness (NIL), it's crucial that they learn money management. This is especially true for future pros, who go broke at an alarming rate.
"A lot of people learn about money when it becomes real for them — and here come over 400,000 student athletes who can now earn money for the first time."
"We feel we have a role to play here, building a community to bring these athletes together and developing a curriculum to help them navigate this new world."— Katie Perry, Public's VP of marketing
How it works: NCAA athletes can now apply for a spot in Public's program, which is part ambassador program, part community.
- Public will provide financial literacy tools and training, including virtual workshops hosted by athletes and entrepreneurs. A variety of topics will be covered, such as investing, negotiating and budgeting.
- "One Team" members will receive $100 in stock on Public to begin their investing journey and can earn additional money by referring friends.