In the spring of 2015, The Financial Literacy Initiative was awarded a Waves of Innovation II grant. The proposal was submitted by Derek Stoutland, a student at Seaver College, alongside Brian Thomason, who serves as the University's AVP, Controller and adjunct professor of accounting. The program's three-year implementation plan began in the fall of 2015, and included the following steps:
- Establish "Money Management for Millennials," a first-year seminar course for incoming Pepperdine students
- Offer BA320, Seaver college's "Personal Finance" elective, annually
- Create a Center for Financial Literacy, designed to educate, coach, and offer money management tools to students
The Financial Literacy Initiative's scope has since expanded, offering resources such as money management workshops, peer coaching, and club convocations throughout the academic year. The program's goal is to continue exposing students to the real-world application of personal finance concepts, empowering them with the ability to successfully handle their money after graduation.