Want your kids to teach themselves financial literacy? 11th Annual scholarship competition in PA is open to applications!

18 January 2024- Harrisburg University of Science and Technology President Dr. Eric Darr, Auditor General Timothy L. DeFoor and Members 1st Federal Credit Union Chief Relationship Officer Chad Adams today launched the 11th annual student financial literacy scholarship competition entitled, “What Does Financial Literacy Mean to Me?

“In high school, students are learning personal finance skills critical for independence in adulthood. Understanding the basics of money management sets them up for a future with good financial habits and success. Harrisburg University is pleased to have the opportunity to host this competition, placing a spotlight on the importance of financial literacy,” Dr. Eric Darr, President of Harrisburg University said.

This year, Pennsylvania students in grades 9-12 are encouraged to submit either a short essay or poem about financial literacy. Three winners, and three honorable mentions, will be selected and announced during financial literacy month, which occurs every year in April.

First, second and third place winners, as well as the honorable mentions, will receive cash prizes from Harrisburg University:

  • First place: $2,500
  • Second place: $1,500
  • Third place: $1,000
  • And three honorable mentions: $500 each

In addition to the cash prize, if any of the six winners enroll at Harrisburg University, each would receive an additional $1,000 tuition scholarship.

The deadline for submissions is March 17, 2024, and students must submit their entry online at: https://www.harrisburgu.edu/hufinancialliteracy/

“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,” Auditor General DeFoor said. “Learning how to be money smart is essential to the success of our commonwealth, which is why we are excited to partner again with Harrisburg University and Members 1st to promote this year’s student competition.”

The competition was launched 11 years ago by Harrisburg University to help further financial education among Pennsylvania students. This is the third year the Department of the Auditor General has partnered to promote it, and it’s the second year for Members 1st Federal Credit Union.

“Our collaboration with Harrisburg University and Auditor General DeFoor to explore innovative approaches to financial education enables us to nurture tomorrow’s leaders into financially responsible individuals,” said Chad Adams, Chief Relationship Officer at Members 1st. “We take pride in our ongoing partnership with this vital initiative, as it continues to make a significant impact on students throughout the commonwealth and, ultimately, our communities.”

Last year, more than 110 Pennsylvania students across the commonwealth submitted either a short essay or a poem describing what financial literacy meant to them. Winners were selected by a panel of judges and announced at an awards ceremony in the Capitol Rotunda during financial literacy month. Each winner received cash prizes from Harrisburg University.

For more information on the student competition, visit harrisburgu.edu. To learn more about the Department of the Auditor General’s efforts to promote financial literacy, visit paauditor.gov/BeMoneySmart. For more information about Members 1st Federal Credit Union’s products and services and how they provide free financial literacy to their members, visit members1st.org