Rowan University in New Jersey is set to establish a new business school, the School of Financial Planning, after receiving a $10 million commitment from Edelman Financial Engines, a U.S. financial planning and investment advisory company founded by Ric Edelman and Jean Edelman, both alumni of the university. The school aims to prepare students for a career facing a shortage of qualified financial planners due to mass retirements, recruiting struggles and a shift towards AI. The new school will be located within the William G. Rohrer College of Business and may open classes as soon as the fall 2026 semester. The company, which operates around 145 offices with over 1 million clients, is headquartered in California and manages over $326 billion in assets. Rowan University is moving forward with the new school one month after announcing voluntary buyouts to several professors and employees amid a projected $16.5 million deficit in its fiscal 2026 budget.