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‘Real World Ready’ Provides LAPD Cadets with Financial Literacy Training

A new GEMS-partnered program aims to provide opportunity and financial knowledge to young LAPD cadets from at-risk neighborhoods.

by: Alexander Bernard

10.02.23

The LAPD Cadets give the "fight on" sign at the Real World Ready Workshop

Students from the LAPD Cadet Program traveled to campus to participate in the Real World Ready financial literacy program.

(USC Photo/Michael Paranal)

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Mike Paranal
- Assistant Professor of Clinical Accounting

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MICHAEL PARANAL, assistant professor of clinical accounting at USC Marshall, hopes he makes every single person on campus feel like they belong. That’s one reason why he started Guiding Exceptional Minds (GEMS), a program that connects accomplished Marshall students with employers eager to find talented candidates.

GEMS is in its second year and going strong, but Paranal has already expanded the program beyond simple networking and guidance. His participants are about to go from students to teachers, thanks to his new project, Real World Ready (RWR, pronounced: roar!). RWR is a financial literacy program that teaches young members of the LAPD Cadet Program how to manage their money responsibly.

A partnership between a clinical accounting professor and the LAPD might seem like an odd marriage. Fittingly, it only occurred through a chance encounter, here on USC’s campus.

One morning, Paranal spotted a group of teenagers and two police officers admiring Tommy Trojan. Naturally curious, he asked about their group and learned the kids were part of the LAPD Cadet Program, most of whom came from at-risk neighborhoods. They were touring USC at LAPD’s expense.

“I said, ‘Why don't you give me your information, because we can invite [the students] here and we can give them a tour of the facility’,” said Paranal. “‘In fact, we can integrate what you have in mind, in terms of what you want to share with these students, into what we as an institution can share.’ And that’s how it all started.”

Paranal immediately partnered with NORA MENDEZ, assistant director of global programs and partners at Marshall. Together, they brainstormed with LAPD how GEMS could assist the cadets. The officers didn’t have to think about it: money management.

Over the next few months, Mendez and Paranal started to develop the curriculum. They planned multiple sessions, to be taught by experienced faculty and even some of their gifted GEMs students.

By September, the cadets were back on campus for their first RWR workshop. As the 22 teenagers walked through Fertitta Hall for the first time, the professor marveled at their beaming, awestruck faces. He realized many of them had never been inside a university building before.

“The highlight was how excited the students were to be at USC,” said Paranal. “Comments like, ‘Oh I can’t believe classrooms can look like this. This is so grand.’ We had TVs and projectors at the front, and they were fascinated by that.”

“I think Real World Ready provides an opportunity to increase representation at schools like USC,” said Paranal. “Through this program, we’re giving visibility to success stories of people from different backgrounds pursuing education successfully at USC.”

— Mike Paranal

Assistant Professor of Clinical Accounting

At first, he worried the students would be bored by the dry financial lectures, but as the workshop progressed, he watched the young cadets come out of their shells.

“They were also very engaged, in terms of wanting to participate and volunteer. At first, I felt like it might feel like a new environment for them so it might take a while. But no, they were eager to participate,” said Paranal. “I left that night, I had a smile on my face. I was so happy.”

Over future hour and a half sessions, Paranal expects the cadets will learn skills like opening a savings account, applying for a loan, and even basic accounting skills. Beyond practical lessons though, Paranal suspects RWR will serve a greater purpose.

“When they walked [on campus], they could see other students who looked like them. And they’re in the room! So it’s not far-fetched for them to be there as well,” said Paranal. “You would never know these are people [visiting] from at-risk neighborhoods as an outreach versus those who are coming here as actual students.”

Paranal continued, stressing the importance of bringing the cadets on campus to show that they belong.

“That reality is something we want in their minds. That’s why we want to invite them…We want them to come to where we’re at because we want to open that world to them.”

In future workshops, Paranal’s GEMS students will lead some of the lessons and small groups, allowing them the opportunity to see the real-world impact of their Marshall classes. As of yet, however, RWR doesn’t have official university funding. Paranal and Mendez pay for food and materials out of their own pockets, the LAPD provides transportation, and Marshall supplies the space. At this point, RWR is truly a labor of love. But Paranal believes it’s more than worth it.

“I think Real World Ready provides an opportunity to increase representation at schools like USC,” said Paranal. “Through this program, we’re giving visibility to success stories of people from different backgrounds pursuing education successfully at USC.”

The professor hopes the next workshop will take place in three weeks. Students will learn positive financial behavior and how to turn their dreams into goals and plans.