UAF FINANCE CAMP GEARED TO YOUNG INVESTORS
FOR IMMEDIATE RELEASE
May 30, 2001
Fairbanks, Alaska — Whether it’s a bull or bear market—when it comes to investing in the stock market—it pays to start young. That’s part of the theory behind the University of Alaska Fairbanks Financial Education Program’s Summer Finance Camp.
High school and middle school students will learn about the stock market and begin to analyze potential investments. The classes will take place in a computer lab where students will have an interactive experience while learning the basics of investment decisions using information provided on the Internet. For Alaskan kids who receive an annual dividend from Alaska’s oil wealth savings account, it can be practical learning as well. Last year the annual pay out to each qualifying man, woman and child was $1,963.86. The program began in 1982 which means most Alaskan teenagers have been receiving the dividend their entire lives.
"It’s important to teach students at a young age the importance of money and how to save for their future goals and obligations," said Joe Hines, UAF’s Financial Education Program Coordinator and former president of the UAF Student Investment Fund featured on CNBC last fall.
The camps are part of a community outreach effort to attract college-bound high school graduates interested in financial management by demonstrating the quality of the existing programs as well as the unique opportunities available to Alaskan students. Opportunities like the UA Scholars program, which offers an $11,000 scholarship to the top 10 percent of Alaska’s high school graduates, as well as additional internship programs that have resulted because of the Alaska Permanent Fund Corporation
"Students at UAF have access to internships not available in most financial management programs," said Mary Lindahl, professor of business administration. "The Alaska Permanent Fund internship program has really opened up the possibilities for students who want to get real-world experience."
UAF’s School of Management financial program has not gone unnoticed. The Student Investment Fund (SIF) participates in hands-on management of a half-million dollar stock portfolio that has experienced annual returns as high as 107 percent. In addition to appearing on CNBC’s financial program, Power Lunch, last fall, SIF has also appeared on CNN’s In the Money and was featured in Fortune magazine in the fall of 1999.
The high school Summer Finance Camp will take place June 4 — 8, and the middle school camp will take place from June 11 —15. Each camp will have ten tuition scholarships, a $1000 prize for the top-performing student, a $500 prize for the second-best performing student and a $250 prize for the third-best performing student.
As part of the Financial Education Program, the School of Management will also offer two classes this fall that high school students interested in finance and business are encouraged to attend. High school students taking Introduction to Business or Personal Investing are eligible to receive college credit and may also receive high school credit.
-30-
CONTACT: Joe Hines, UAF Financial Education Program at (907) 474-5488 or e-mail: ffjph1@uaf.edu, or Mary Lindahl, UAF School of Management at (907) 474-5531 or e-mail: ffmrl@uaf.edu.
JPH/CJB/05-30-01/01-075