15 NYC Public Schools Teach Students How to Bank, Save, and Budget

How many of us wished our high school math classes included lessons on how to balance a checkbook or open a high-yield savings account instead of focusing solely on solving quadratic equations and always searching for x? That wish is finally here with a new financial initiative program for high school students in some select city schools.

Fifteen city schools will soon get access to financial education in a new pilot program that will teach students all about savings and checking accounts, various banking products, and how to keep and grow their money. The selected schools will have banking services on site, not only for students but also for their families. This is especially important since the schools selected were chosen partly because they are located in neighborhoods that are typically underserved by financial banking services.

Psst… Meet New NYC Schools Chancellor Melissa Aviles-Ramos

Mayor Eric Adams, along with New York City Public Schools Chancellor Melissa Aviles-Ramos recently announced the new pilot program known as Financial Literacy for Youth.

“If you don’t teach people how to use their money, they will lose their money,” said Adams. The program will “bring banking services directly to students and give them hands-on experience opening up a safe, affordable bank account, learning about financial products, and starting careers in banking and finance.”

These schools will also offer financial workshops for students and their parents and financial counseling. Teachers will also get help with lesson plans to teach the new curriculum, and will lead lessons on budgeting, saving, and even recognizing financial fraud.

The long-term goal is to bring the program to more schools over time. City leaders are aiming to reach 350,000 students and families by 2030 through the $25 million initiative.