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Texas A&M alumni gift $5 million to Financial Planning program

Bill and Fran Carter are planning a gift of $5 million to the program they helped create.

COLLEGE STATION, Texas — The Financial Planning program at Texas A&M is one of just 300 nationally. The school offers two aspects to all students at the university. A financial readiness course and a base money education course.

You might need to speak with a financial planner or advisor before trying to refinance your house, planning retirement, or even before paying off student loans. Nathan Harness, Director of the financial planning program at TAMU,  said this is a career that needs people more than ever.

"What we're hoping to do here at Texas A&M is develop not just financial planners but to develop future clients," Harness said. "That is those that are making wise enough financial decisions that may need the help of another person down the road."

That's why the gift of $5 million by Bill and Fran Carter to the financial planning program is so important. With this gift, Texas A&M will be able to hire new faculty members, work with its ambassador students and bring the industry into the classroom with professionals interacting with students.

"Financial planning is a unique field that is continuing to evolve," Harness said. "Today there are more certified financial planners over the age of 70 than below the age of 30, the demand for new young individuals coming into our industry could not be higher."

Part of the $5 million gifts will go towards the program being renamed after the Carter family.

"I think they represent well the core values of Texas A&M, in that they selflessly serve," Harness said. Not only do they lead but leadership requires followership and that engagement with the next generation that propels them forward with excitement."