Launch of the Financial Literacy Scholarship Contest
Today marks the exciting launch of the 11th annual Financial Savvy Scholarship Contest by Dr. Eric Darr, President of Harrisburg University of Science and Technology, Auditor General Timothy L. DeFoor, and Chad Adams, Chief Relationship Officer at Members 1st Federal Credit Union. This year’s theme, “What Does Financial Literacy Mean to Me?” invites Pennsylvania students in grades 9-12 to express their understanding of financial literacy through essays or poems.
The Importance of Early Financial Education
Dr. Eric Darr emphasized the critical role of financial education during high school, stating, “Learning personal finance skills is crucial for young adults to achieve independence and success. Hosting this competition highlights the vital importance of financial literacy and encourages students to develop good financial habits early.” Harrisburg University is proud to foster an environment where financial education is prioritized and celebrated.
Contest Details and Incentives
Participants are encouraged to submit their entries by March 17, 2024, through Harrisburg University’s dedicated contest webpage. The competition offers attractive cash prizes, with the first-place winner receiving $2,500, second place $1,500, third place $1,000, and three honorable mentions each receiving $500. Additionally, winners enrolling at Harrisburg University will receive an extra $1,000 tuition scholarship, further supporting their educational journey.
Benefits of Financial Literacy
Auditor General DeFoor highlighted the broader implications of financial literacy, stating, “Understanding money management not only helps individuals manage their finances better but also empowers them to hold governments accountable for fiscal spending.” This competition, supported by a decade-long commitment from Harrisburg University, the Auditor General’s office, and Members 1st, aims to instill a robust financial foundation in the youth of Pennsylvania.
Strengthening Community Through Education
Chad Adams of Members 1st expressed pride in the collaborative efforts to promote financial literacy, noting, “Our partnership allows us to shape financially savvy leaders of tomorrow. This initiative has a profound impact on students across the commonwealth, enhancing their financial understanding and, ultimately, benefiting our communities.” Last year, the contest saw over 110 submissions, a testament to its growing influence and the importance of financial education in shaping responsible citizens.
This year’s competition not only continues a tradition of excellence in financial education but also strengthens the community’s commitment to raising financially aware and capable young adults.