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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.

Go deeper

Hispanic Heritage: Cuba's literacy legacy

A street stand with books for sale in Havana's city center. Photo: Artur Widak/NurPhoto via Getty Images

Cuba's high literacy rates and the rapid rollout of the campaign that resulted in most residents learning to read and write has been a model for many other countries — even as Cubans continue to experience harsh censorship.

Why it matters: Cuba has a long and rich literary history, but the 1961 campaign that helped get the island to a 99% to 100% literacy rate left an important legacy that fostered literacy worldwide.

Biden administration overhauls student loan forgiveness program

Brookland Middle School teacher Michelle Taylor with President Biden in September 2021 in Washington, D.C. Photo: Saul Loeb/AFP via Getty Images

The Department of Education announced Wednesday that it would temporarily relax rules governing a student loan forgiveness program, making it easier for service members, teachers, nurses and other public servants to qualify for debt relief.

Why it matters: In total, the department estimates that its overhaul of the Public Service Loan Forgiveness Program will bring over 550,000 borrowers closer to debt forgiveness.

Updated 3 hours ago - World

Reports: Up to 17 U.S. missionaries kidnapped in Haiti

Haitian soldiers guard the public prosecutor's office in Port-au-Prince earlier this month. Photo: Richard Pierrin/AFP via Getty Images

Children were among up to 17 American Christian missionaries and their relatives kidnapped by a gang in Haiti on Saturday, the New York Times first reported.

Details: The missionaries had just left an orphanage and were traveling by bus to the airport to "drop off some members" and were due to travel to another destination when the gang struck in Port-au-Prince, Haitian security officials said, per the NYT.