HARRISBURG, PA — Harrisburg University of Science and Technology, in collaboration with Auditor General Timothy L. DeFoor and Members 1st Federal Credit Union, has launched the 11th annual student financial literacy scholarship competition. The contest, titled “What Does Financial Literacy Mean to Me?” invites students across Pennsylvania to delve into the significance of financial knowledge in their lives.
The competition underscores the importance of financial literacy in high school education. As students gain personal finance skills, they equip themselves with knowledge that is critical for their independence and future success. The contest aims to highlight the value of understanding money management basics and cultivating good financial habits early on.
Students in grades 9-12 are encouraged to submit a short essay or poem about financial literacy. A panel of judges will select three winners and three honorable mentions, with the results announced during financial literacy month in April.
Generous cash prizes await the winners, courtesy of Harrisburg University: $2,500 for first place, $1,500 for second place, $1,000 for third place, and $500 each for three honorable mentions. If any of the six winners enroll at Harrisburg University, each will receive an additional $1,000 tuition scholarship. The deadline for entries is March 17, 2024.
Auditor General DeFoor highlighted the broader societal impact of financial literacy: “If you know how money works, you’re in a better position to understand where it’s going and you’re able to hold government accountable for how it’s being spent.”
The competition, initiated by Harrisburg University 11 years ago, seeks to further financial education among Pennsylvania students. This marks the third year the Department of the Auditor General has partnered to promote it, and the second year for Members 1st Federal Credit Union.
The collaboration represents a unique approach to financial education, nurturing tomorrow’s leaders into financially responsible individuals. According to Chad Adams, Chief Relationship Officer at Members 1st, the partnership takes pride in making a significant impact on students throughout the Commonwealth.
Last year, over 110 Pennsylvania students submitted essays or poems describing what financial literacy meant to them, demonstrating the competition’s reach and influence. By fostering an understanding of financial literacy among young people, this initiative not only helps equip them for personal success but also contributes to the overall economic health of the Commonwealth.
For more information on the student competition, visit harrisburgu.edu.
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