Cal State Northridge and Cal State LA received a five-year, $5 million federal grant to prepare students for careers in financial technology, the universities announced Monday.
CSUN’s David Nazarian College of Business and Economics will receive $3 million, with the remaining funds going to Cal State LA, according to school officials. The grant was awarded through the U.S. Department of Education’s Strengthening Institutions Program.
The universities plan to help hundreds of students earn a certificate related to financial technology and receive artificial intelligence-assisted tutoring, advising and career guidance.
Financial technology, or fintech, uses technology to automate and improve how people and businesses manage, move and invest money.
The grant will support a venture lab, new credentials and faculty positions, said Farshad Ghodoosi, an associate professor of business law and founding academic director of CSUN’s Center for Fintech Innovation and Policy.
The center was established in May, and the universities submitted their grant application in June. The funding was awarded in September, Ghodoosi said.
The partnership will connect students from CSUN, which serves the San Fernando Valley, with students at Cal State LA, whose campus near downtown draws students from East Los Angeles and the San Gabriel Valley.
“We chartered the Fintech Center in May, submitted this complex application in June, and received the funding in September,” Ghodoosi said. “We did this on an accelerated timeline because the opportunity was obvious. Los Angeles is a fintech city, yet the students the industry most needs have had no clean way in. The students at CSUN and Cal State LA are exactly the workforce the industry says it needs.”
During the five-year program, students will work with artificial intelligence tools, form teams and develop fintech products, said Monica Sharif, an associate professor at Cal State LA’s College of Business and Economics.
Both universities are Hispanic-serving institutions with significant numbers of first-generation students and Pell Grant recipients, officials said.
CSUN’s Nazarian College plans to hold a grand opening for its Fintech Center in 2027. The center will serve as a training hub and connect students with Los Angeles-area fintech businesses, the university said.