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Smith Closes Financial Information Gap

At the end of the 19th century, Sophia Smith, sole survivor of her family, made a bold investment. She stipulated that her estate be used to found a college at which women might receive an education equal to that of men.

Today, with the help of one of the world's leading financial services firms, Smith College is taking steps to ensure that its graduates possess the same financial autonomy and courage shown by its founder more than 130 years ago. This fall, in partnership with Goldman, Sachs & Co. and Ann Kaplan, a Smith alumna and trustee-who together are providing $2.5 million in seed money-the college launched "Women & Financial Independence: The Smith College Program in Financial Education."

The program is believed to be the only one in the nation aimed specifically at undergraduate women; its goal is to help women take hold of their own financial futures by understanding the central role of economics in their lives.

The noncredit evening and weekend courses will cover entrepreneurship, investing and tax planning, loan and credit card debt management, compensation and salary negotiation, philanthropy, investor responsibility and retirement planning.

The program is one from which all women can benefit, says Smith economics professor Mahnaz Mahdavi, who will direct the new program. Smith students will also learn that financial matters "are not something to be left to someone else."

"Throughout her life, whether a woman chooses to handle her own finances directly or to hire someone to manage them for her, she must know the right questions to ask and the right answers-and the right returns-to seek," says Mahdavi. After all, she cautions, "A woman is not truly independent unless she is financially independent."

An opening event for "Women & Financial Independence" will be held on Thursday, October 25. Watch the Smith College Web site, www.smith.edu, for further details.

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NewsSmith is published by the Smith College Office of College Relations for alumnae, staff, students and friends.
Copyright © 2001, Smith College. Portions of this publication may be reproduced with the permission of the Office
of College Relations, Garrison Hall, Smith College, Northampton, Massachusetts 01063. Last update: 9/9/2001.


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