FS Investments to expand financial literacy programming in two additional Philadelphia high schools next year in collaboration with the University of Pennsylvania
Applications for schools interested in participating are due on July 31st
PHILADELPHIA, PA – July 10, 2017 – The FS Foundation, the philanthropic arm of FS Investments, today announced the opening of the application period for its 2017 FS Financial Scholars program, a financial literacy initiative created in collaboration with the University of Pennsylvania. The FS Foundation will fund additional programming in two Philadelphia high schools next year and will identify those schools through the application process.
FS Financial Scholars is a program designed to provide high school students and their families with the tools needed to generate greater wealth and achieve financial empowerment. The program utilizes a combination of in-class financial literacy curriculum and after-school entrepreneurship programming for students, along with evening and weekend-based financial literacy education for parents. The program is part of Bridges to Wealth, the broader community-based financial literacy efforts of Dr. Keith Weigelt, Marks-Darivoff Professor of Management at the Wharton School at the University of Pennsylvania and Dr. Jill Bazelon, an instructor in the Graduate School of Education at the University of Pennsylvania.
“We are proud to partner with Bridges to Wealth to deliver helpful financial education and meaningfully impact communities,” said Mike Gerber, Executive Vice President of FS Investments and President of the FS Foundation. “We are excited to expand this program to reach more Philadelphia students and families.”
For the past two years, the program was piloted at Boys’ Latin of Philadelphia Charter School, where a 40-student cohort showed significant increases in survey scores measuring financial behavior, knowledge and attitudes following the program’s completion. The parental component of the program has also been successful in meaningfully increasing parental engagement. The program’s parent investing group held more than 22 meetings last year with an average attendance of 35.
“The FS Financial Scholars program has been a great addition to Boys’ Latin,” added Dr. Noah Tennant, Deputy CEO and Principal of Boys’ Latin of Philadelphia Charter School. “Financial literacy is an invaluable, yet often overlooked, component of basic education that has the power to lift up entire communities. We’re thrilled that the FS Foundation is rolling out similar programming at other Philadelphia high schools.”
The FS Foundation is also in the process of implementing FS Financial Scholars programming at South Philadelphia High School, in partnership with the Mayor’s Community Schools initiative.
“Schools that successfully leverage public, private and philanthropic resources become stronger support systems for students, neighborhoods and the entire city,” said Mayor Jim Kenney. “Thanks to FS Investments, more Philadelphia students and their families will have the opportunity to engage with financial literacy programming – it’s a perfect example of what we hope to achieve through the Community Schools initiative.”
The 2017 FS Financial Scholars application period begins today, July 10, 2017, and runs until July 31, 2017. Applicants must be affiliates of interested public, charter or private high schools located in Philadelphia County. Submissions will be reviewed on a rolling basis by representatives of the FS Foundation and Bridges to Wealth, who will notify schools regarding their acceptance into the program ahead of the upcoming school year. The application can be accessed here.
About FS Investments:
FS Investments is a leading asset manager dedicated to helping individuals, financial professionals and institutions design better portfolios. The firm provides access to alternative sources of income and growth, and focuses on setting industry standards for investor protection, education and transparency.
FS Investments is headquartered in Philadelphia, PA with offices in Orlando, FL and Washington, DC.
Visit www.fsinvestments.com to learn more.
About FS Foundation:
The FS Foundation is the philanthropic arm of FS Investments. It aims to positively impact communities through championing civic leadership, volunteerism and philanthropy at all levels of the firm.
Visit www.fsinvestments.com/about/fs-foundation to learn more.
About Bridges to Wealth:
Bridges to Wealth is a cross-generational program empowering both youth and adults with vital entrepreneurial and life skills. The curriculum and courses aim to help participants learn to generate wealth through savings and investing. Participants develop leadership and business skills that support them whether they strive to be entrepreneurs or simply want to create more professional opportunities for themselves. In addition to FS Financial Scholars, Bridges to Wealth is currently engaged in several community-led efforts including, senior community centers, faith-based institutions and community health centers.
Visit www.bridgestowealth.org to learn more.
FS Investments Media Team
Mark Yaklofsky / Kate Beers