CLU provides financial services for women

The California Lutheran University School of Business has received a $40,000 grant to start an online financial center for lowincome and minority women.

The grant, one of eight throughout the country, will fund the first two years of the California Institute of Finance Information Center for Women, starting with the fall semester.

The online center will provide financial planning services to women, particularly minorities, single mothers, widows and lowto middle-income earners.

Services will include personal budgeting, debt relief, children's education funding, and divorce and retirement planning.

Most information will be supplied for free. More comprehensive individualized counseling will be available for a modest fee.

About 180 students in CLU's MBA and financial planning programs will help develop the center and provide answers to questions submitted online. The students will be under the supervision of a faculty member with financial expertise.

The Certified Financial Planner Board provided a grant for the project. CLU's grant will cover the startup costs. After two years, the nominal fees charged should cover operating costs. The university will donate faculty, staff and student time.

For more information, call California Institute of Finance director Somnath Basu at (805) 493-3980 or send an e-mail to basu@callutheran.edu.