FS Investments more than doubles its commitment to teach financial skills and knowledge to Philadelphia students
PHILADELPHIA, PA – November 15, 2017 – As part of its ongoing efforts to improve financial literacy in Philadelphia, the FS Foundation, the philanthropic arm of FS Investments, is expanding its FS Financial Scholars program into five additional high schools this year.
FS Financial Scholars is supported by Bridges to Wealth, the community-based financial empowerment initiative 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. The FS Financial Scholars program is designed to provide high school students and their families with the tools needed to generate greater wealth and achieve financial empowerment through a combination of in-class curriculum and after-school, evening and weekend-based programming opportunities.
For the past two years, the program was piloted at Boys’ Latin of Philadelphia Charter School, where a 40-student class showed significant increases in survey scores measuring financial behavior, knowledge and attitudes following the program’s completion.
In July, the FS Foundation announced its first open application process to select two additional schools for the program, which received an overwhelming response. As a result, the Navy Yard-based asset manager decided to more than double its initial commitment to FS Financial Scholars – contributing funds to expand programming to five additional Philadelphia schools this year.
“Financial literacy is a critically important issue that needs more attention,” said Mike Gerber, Executive Vice President of FS Investments and President of the FS Foundation. “We expect young people to succeed after high school without teaching them how to balance a check book or understand what interest rates are and why they matter. In today’s world, we need to better equip our youth. FS Investments is proud to do its part to help meet the extraordinary need for financial education programming in Philadelphia.”
Joining Boys’ Latin in offering FS Financial Scholars this year are Bodine High School for International Affairs, Central High School, Freire Charter School, as well as Murrell Dobbins Technical High School and South Philadelphia High School, both part of Mayor Jim Kenney’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 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.”
“Education always evolves, and we’re delighted to be able to offer our students the latest and most relevant skills that schools can offer,” said Toni Damon, Principal at Murrell Dobbins. “These skills learned in the classroom will benefit them for their entire lives.”
The FS Financial Scholars program will accept new applications beginning January, 2018. All public, charter, parochial or private high schools located in Philadelphia County are eligible to apply. For more information, visit www.fsinvestments.com/about/fs-foundation.
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 New York, NY, 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
Marc Yaklofsky / Kate Beers