This transcript is automatically generated
Black Eyed Peas frontman will -- now wants to transform the east LA neighborhood where he grew up.
And he wants to do it through financial literacy.
Outsiders and insiders don't understand.
Why areas like this stay like this and education and you know.
Guidance and opportunity.
Is there is is the reason why these -- stay the way they are.
They entertainer has partnered with Chase Bank to open a homeownership center in Boyle heights absence has one of the lowest.
Rates of homeownership in the country.
It actually has one of the lowest graduation rates in the country.
We want to help transform them.
This center offers counseling to residents struggling to make their mortgage payments like this woman who's forty months behind on hers.
As a homeowner she's the exception in Boyle heights where many residents live check to check.
I like to look at it realistically people around this community.
Think they probably weren't going to be able to qualify.
For a loan to buy -- home.
Surprises -- -- important it's important for their kids.
After touring the new center -- the musician gave these Roosevelt High School students 2000 dollars each for their college accounts.
But first they -- taught how to write checks and how to balance those accounts I'm Eric and you don't want me.
His motivation for getting these kids to college comes from his own experience.
While he will walk he was bussed to schools in more affluent areas of the city.
They sit me how -- Boyle heights of palisades so I had the mentality of leave I got to leave the projects.
-- -- -- trying to lead palisades.
People are trying to leave Britain -- my physical a schoolgirl went everywhere around them is you know opportunity in Britain would.
No one wants to leave West Hollywood.
-- like I can't wait to get up out of Hollywood Hills.
Even though he's a millionaire now at this seven time Grammy winner admits he had no idea how to manage his money.
My concept of saving was put in my cheque.
In my glove compartment and the checks added up.
Many years later till like 400000 dollars.
Upon cash checks.
He hopes financial literacy and a college education will empower these kids to transform their neighborhood.
And that they'll know better than to leave their checks in the glove compartment.
In Los Angeles -- Warner Fox Business Network.