The Pacific Life Foundation Grants $2 Million to UCI’s LIFEvest Financial Literacy Program

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Grant will support financial literacy education for Orange County youth.

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In January of 2019 the Pacific Life Foundation announced a $2 million partnership with the University of California, Irvine’s LIFEvest Financial Literacy Residential Program. The program, which provides financial literacy education for vulnerable youths, strives to instill a lifelong curiosity in personal finance and the necessary financial skills to pursue a life of financial freedom.

More than 400 students have attended the program since its inception in 2010. During the weeklong LIFEvest summer residential program, 100 local eighth- and ninth-graders from underserved communities have the opportunity to experience life on campus – sleeping in UCI dorms, eating in dining halls and attending financial literacy classes. Students learn about the value of education, financial budgeting and saving for retirement, helping to motivate and prepare them to be the first in their families to go to college.

“We are thrilled to receive this transformational grant from the Pacific Life Foundation,” said Christopher Schwarz, associate professor of finance and Center for Investment & Wealth Management director. “LIFEvest makes a huge impact in these young people’s lives. Not only does it teach important financial skills, but the residential component gives them the confidence to pursue a college education and plan for the future.”

With this grant, Pacific Life will help LIFEvest expand the program over the next ten years to offer additional services and support to students that participated in the program. Going beyond receiving financial literacy training, LIFEvest will teach students to prepare for college, from taking entrance exams to how to obtain financial aid. Pacific Life employees will volunteer to mentor and guide students as they move onto the next step or their life’s journey.

Press Release

LIFEvest Financial Literacy Residential Program

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