Harrisburg, PA – Harrisburg University of Science and Technology (HU), Pennsylvania’s Auditor General, and Members 1st Federal Credit Union recently worked together to bring out the best in Pennsylvania’s high school students through the Financial Literacy Scholarship Essay Competition. Now in its 11th year, the competition has just completed another successful run, with nearly 100 student entries from 24 counties across the Commonwealth.
An awards ceremony to cap off this year’s competition was held on April 26, 2024, at the Capitol Rotunda in Harrisburg, with photos and videos of the event available. The essay prompt was open-ended to inspire creative submissions. And for the first time this year, every student who entered the contest by answering the question, “What does financial literacy mean to me?”, receives a $1,000 tuition scholarship to HU.
“It’s hard to understate the importance of financial literacy in today’s world,” said Harrisburg University President, Eric Darr, PhD. “Young adults who know how money works are far better prepared to support their families and maintain healthy spending habits. We are grateful for the chance to continue this impactful collaboration between Harrisburg University, Members 1st Federal Credit Union, and the office of the Auditor General. I want to thank each and every student who shared their thoughts with us in this competition and extend hearty congratulations to our winners. You’ve made Pennsylvania proud.”
Pennsylvania’s Auditor General, Timothy DeFoor, also provided his perspective: “It’s never too early to start learning how to be smart with your money. 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. The winners of this year’s competition have shown they know the importance of being financially literate.”
“Having a strong grasp of personal finance is crucial for the next generation to make informed decisions as they grow older. Competitions like this play a pivotal role in teaching youth how to plan for their future and manage their finances effectively,” said Chad Adams, Chief Relationship Officer for Members 1st. “On behalf of Members 1st, we sincerely congratulate this year’s competition winners. Thank you to the Department of the Auditor General and Harrisburg University for hosting this crucial initiative and sharing in our mission of financially equipping our region’s youth.”
Ultimately, the judges landed on seven top prize winners:
- First place ($2,500): Neema Mwemera (Steelton-Highspire Junior/Senior High School, Grade 10)
- Second place ($1,500): Ashley Rodriguez (William Allen High School, Grade 11)
- Third place ($1,000): John Ademuwagun (Milton Hershey High School, Grade 11) and Caleb Masshardt (Cedar Cliff High School, Grade 12)
- Honorable Mentions ($500): Martina Ferriolo (Louis E. Dieruff High School, Grade 11), Savannah Harrell (Bishop McDevitt High School, Grade 11), and Ava Santanna (Bishop McDevitt High School, Grade 12)
“If money isn’t going to be used to its best capability, it shouldn’t be used at all,” recited John Ademuwagun. “One billion people are living on less than a dollar per day. For us with a gift of money, we have to do our best with it. And the hands-on learning never stops.”
Caleb Masshardt also shared his firsthand experience with money management, saying, “I never understood why my grandparents turned off every light in the house when they left. But now I understand that lasting financial security is the product of knowledge and diligence.”
Eleni Cordero, PhD, Principal of Steelton-Highspire Junior/Senior High School, capped off the presentations by reading Neema Mwemera’s top-prize-winning essay, “A Journey to the Future.” In it, Neema describes growing up in the Congo without a strong sense of financial stability:
“When people think of financial literacy, they think of having money, spending money, and saving money. But it’s more than this. It has equipped me to ensure I won’t return to a world of hunger. Financial literacy means taking control of my financial destiny; it means I’ll be able to help my family by passing on financial knowledge.”
For more information about the awards and today’s ceremony, please refer to the PAcast website for the official press release and photo/video library.
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