Graduation is the most important time in a student’s life. However, when it comes to the young scholars of the World Academy for Innovation & Entrepreneurship (WAIE) there are 3 extraordinary things students do after graduating from WAIE. Traditionally, in high school, students spend 12 years in school until they become a senior and graduate. At WAIE, we ask students to start with us during their 7th year of school and continue until they reach their 14th year of education.
The ultimate goal is to help our young scholars create generational wealth and live a comfortable life. We do this by providing them with the right tools they’ll need to venture down one of three paths upon graduation. Upon graduating young scholars will be able to: (1) start a business as an entrepreneur, (2) enter the workforce utilizing a certification, or (3) continue their learning as a transfer student in higher education.
As part of our accreditation process, we are seeking accreditation to not only provide young scholars with a high school diploma but to also be able to provide them with a transferable associates degree with certificates in Entrepreneurship, Data Analytics, or Environmental Studies. Nonetheless, learn about the three pathways our young scholars can take and how it can help them change the world.
There are 3 extraordinary things students do after graduating from WAIE, however, the first pathway they can venture down is continuing their education at a higher education institution. That being said, we encourage our young scholars to attend a college, university, or trade school with purpose. During their time with WAIE, our career and college counselors mentor and coach our young scholars on planning their life after WAIE. If young scholars choose to attend an institution of higher ed then they will attend with the purpose of furthering their education and furthering the mission of creating generational wealth for their family and helping their community succeed.
We help young scholars take a business perspective on their educational endeavors and select pathways and degrees that will have a positive return on their investment (ROI). This does not mean they cannot minor or take courses in other areas of interest, however, we encourage our scholars to explore options that will help them earn a living that meets their personal goals when it comes to reaching a comfortable life.
Most times in education we encourage students to continue their education by attending a community college, university, or trade/vocational school. And we promote it to youth of color as their ticket to a better life. However, more often than not we do not help students look at the factors that impact them having a better life. We support our young scholars in understanding the impact of college loans, the impact growth of a career industry has on the job market, the impact of taxes and their net earnings will have on their self-defined comfortable life. All in order to help them make an educated decision on which degree they would prefer to pursue.
As educators we have the choice to either prepare youth for a future of success that will require them to use discernment and critical thinking or to promote and tout what is popular as a solution for the “challenges” that communities of color currently face.
The second pathway a young scholar can take once they graduate from WAIE is to enter the workforce. Throughout their time with us, young scholars will participate in internships, job shadows, and work closely business leaders to build skills so they are ready to enter the workforce post-graduation. Also, during young scholars 12th, 13th, and 14th year they participate in college level courses to help them build skills in business, data analytics, and environmental studies. The ultimate goal is for young scholars to enter the workforce and participate in careers that will provide them with gainful employment.
The first workforce readiness sector young scholars focus on is business and entrepreneurship. The business track helps students prepare for careers related to running an effective and productive business. Also, there are five specific career pathways for student’s in the business track. The five specific pathways consist of:
- Administrative Support
- Business Information Management
- General Management
- Human Resources Management
- Operations Management
The second workforce readiness sector young scholars focus on is data analytics. The data analytics track helps students analyze raw data in order to make conclusions about that information. Data analytics techniques can reveal trends and metrics that would otherwise be lost in the mass of information. This information can then be used to optimize processes to increase the overall efficiency of a business or system. Data Analytics has uses in all industries and career clusters from business to criminal justice to healthcare and more.
The third workforce readiness sector young scholars focus on is environmental studies. The environmental studies track helps students take an interdisciplinary look at the interplay between the social, legal, management, and scientific aspects of environmental issues. Students entering into environmental fields of study are united by a shared passion. They are deeply concerned about the fate of our planet, its natural resources, and its inhabitants.
Each track a student may choose to venture down will provide them the opportunity to make a substantial impact on the communities they choose to live, work, and if they choose to raise a family.
The third pathway a young scholar can take when they graduate from WAIE is to become an entrepreneur and have multiple streams of income through either starting their own business/nonprofit, supporting a peer’s business/nonprofit, or investing in a startup or established business. Furthermore, we teach young scholars the importance of both passive and active income. That education is part of the content we discuss on the 7 streams of income and creating generational wealth for themselves and their family.
- Earned Income
Earned Income is the money that you earn by doing something or by spending your time e.g. the money that you make in your job, the salary you get by working for someone else.
- Profit Income
Money that you earn by selling something for more than it costs you to make. For example, businesses selling their goods at a profit, whether at the retail or wholesale level, as distributors or manufacturers. You need to be an entrepreneur to earn profits.
- Interest Income
‘Interest Income’ is the money you get as a result of lending your money to someone else to use, for example, putting it in the bank, lending it to the government in the form of buying Treasury Bills, etc. This is a great source of passive income where your active involvement is not needed once the investment is done.
- Dividend Income
Dividend income is similar to interest income as it is passive. However, it also makes you a shareholder of a company. You receive the income as a return on shares of a company you own. For example, the dividend that most companies announce at the year end.
- Rental Income
This is the income you receive as a result of renting out an asset that you have, like a house, or a building. One of the biggest drawbacks is the investment cost required to create such an asset to generate regular rental income.
- Capital Gains
You gain this income as a result of an increase in value of an asset that you own. For example, when you buy shares at $10 and sell them at $15 – the $5 is capital gains, or if you buy your house for $220,000 and sell it for $250,000, the $30,000 is your capital gain.
- Royalty Income
You gain this income as a result of letting someone use your products, ideas, or processes. The licensee or franchisee makes all of the revenues, they do all the hard work and you get a small percentage of what they earn.
As part of young scholars entrepreneurship pathway they will be strongly encouraged to establish at least two streams of income for themselves and their family. It is time for us to provide youth of color with access to the hands-on, real-world, entrepreneurial education that they deserve rather than curriculum that doesn’t ignite them to act and implement their knowledge to create change for themselves and others.