Our Impact
In Philadelphia

We are proud to be connecting Philadelphia high school students with financial knowledge that will help them build a more secure and prosperous future.

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Schools Involved

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Students Taught

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Teacher Partners

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Growth in financial
knowledge

What Students Are Saying

“This class has not only made me prepared for life but also made me change my plans. In the future, I will start spending less and start investing. I am going to look at my budget and make a plan before I make a big purchase. I am also going to pay my credit card bill in full… every month to avoid the endless cycle of credit card debt. Looking back, I fear what would have happened if I did not take this class. I know many students don’t have this opportunity. "

Bezawite Alemu, PFS Student

The Financial Education Landscape

See below for more information on the financial education landscape and the exciting impact our programs have made in Philadelphia.

The Problem (Lack of Resources)

Only 63% of students in the state of Pennsylvania had access to a fully dedicated personal finance class, and in Philadelphia, less than 20% of public high schools offered such a course during the 2021-22 school year. 

High school students living in rural areas are three times more likely to take a financial literacy course than those at urban schools, according to Next Gen Personal Finance.

High schools where more than 75% of students are Black or Hispanic are half as likely to require these courses compared to schools where fewer than 25% of students are Black or Hispanic.

The Solution

76% of recent high school grads said they wished their schools placed more emphasis on personal finance, according to a 2019 Experian Consumer Finance Survey. 

88% of adults surveyed in April 2022 said they wanted all schools to require either a semester- or year-long personal finance course.

Graduates of high schools with guaranteed financial education save an average of $1,300 in high-interest private debt per student and 21% less likely to carry a balance on a credit card while in college.

Read this article from US Today: Shrink the racial wealth gap by offering personal finance classes in high school.

Program Success

Filling the Need

Philadelphia Financial Scholars provides curriculum and paid professional development to the highest need / lowest resourced schools to launch high-quality, daily instruction in personal finance & entrepreneurship.

Increased Touch-points

In 2022-23, Philadelphia Financial Scholars served 1,251 students across 19 high schools. In 2023-24, we are collaborating with 28 high schools to serve 2,300 students.

Measurable Impact

At the end of each class, we give an assessment to measure student growth. In our most recent cohort, student financial knowledge was shown to grow by 41%, and the percentage of students who reported feeling confident in their ability to achieve financial wellness grew by 89%.

See Our Student Outcomes Infographic

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Growth in students'
financial knowledge

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The average score when
students were asked how
likely, on a scale of 1-10,
they would recommend this
class to a friend.

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Growth in students who
reported feeling confident
in their ability to achieve
financial wellness

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Teachers rated overall
experience with PFS
4.5 / 5.0 in an end of year
2022-23 survey

Benefits of Financial Education

Students from high schools with guaranteed financial education are 21% less likely to carry a balance on a credit card while in college, submit the FAFSA 3.5% more often, and use subsidized student loans 13% more often.

Students from high schools with guaranteed financial education save an average of $1,300 in high-interest private debt per student.

High school students and adults overwhelmingly rank personal finance as the most useful high school course: 76% of recent high school grads said they wished their schools placed more emphasis on personal finance, according to a 2019 Experian Consumer Finance Survey, and 88% of adults surveyed in April 2022 said they wanted all schools to require either a semester- or year-long personal finance course.

Teacher Approval

Educators find tremendous value in Philadelphia Financial Scholars programming and professional development:
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Teachers rated our curricular resources a 4.6 out of 5.0 in an end-of-year survey. 

Teachers rated their overall experience with Philadelphia Financial Scholars 4.5 out of 5.0. 

95% strongly agreed that professional development will elevate their teaching practice and result in positive student outcomes.

Are you interested in learning more about our program
outcomes or financial education success?

Contact Our Team

Our Impact

Philadelphia Financial Scholars is dedicated to measuring the success of our programming to help encourage investment in financial empowerment for underserved students.

Our ImpactIn Philadelphia

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Our Impact
In Philadelphia