Financial Literacy In New York What Students and Families Should Know About the “Financial Literacy for Youth” Initiative

New York City Is Transforming Financial Education: What Students and Families Should Know About the “Financial Literacy for Youth” Initiative

🌆 A New Era in Youth Financial Education

New York City is making a historic move to equip young people with essential money-skills. The ambitious “Financial Literacy for Youth” initiative aims to ensure that every public-school student learns how to save, spend wisely, and access banking services by 2030.

Unlike traditional one-time lessons, this program takes a full ecosystem approach—embedding financial educators in schools, and launching one of the country’s first in-school banking pilots at scale.

🧑🏫 Financial Educators in Every School District

At the core of this initiative is placing dedicated financial educators in public-school districts—beginning with the first 15 districts in June 2025.
These educators will:

• Offer free workshops and counseling for students and families
• Help teachers develop classroom resources focused on money-management and smart financial habits
• Support families and school communities in fostering financially healthy environments
• By embedding trained professionals into the school ecosystem, NYC is making sure financial education becomes part of students’ everyday lives—not just a unit in a textbook.

• The first 15 public schools that will receive in-school banking services as part of the New York City "Financial Literacy for Youth" initiative, starting in 2026. These schools will also be the first to receive dedicated financial educators.

  The list of schools, organized by District, is as follows:

  District	School Name
  2	Urban Assembly Early College High School of Emergency Medicine
  3	The Urban Assembly School for Green Careers
  5	Mott Hall High School
  7	The Laboratory School of Finance and Technology
  8	Longwood Prep
  9	Bronx High School for Medical Science
  10	Fordham High School for the Arts
  11	Bronx Lab School
  12	East Bronx Academy for the Future
  14	High School for Enterprise, Business and Technology
  19	World Academy for Total Community Health High School
  21	John Dewey High School
  23	Brooklyn Collegiate: A College Board School
  30	Long Island City High School
  31	The Eagle Academy for Young Men of Staten Island

  This pilot program, announced on November 12, 2025, is part of the Adams administration's goal to ensure every public school student can learn how to save and spend money by 2030. The initial 15 schools were chosen in part because they serve communities identified as being persistently unbanked.

🏦 In-School Banking Pilot Launching in 2026

Addressing financial access is a big part of the plan. With roughly 7% of NYC households lacking a bank account—higher than the national average—many families depend on costly check-cashing services. (NYC.gov)
In response, NYC will launch a groundbreaking in-school banking pilot in 2026, in partnership with major banks and credit unions including:

• Bank of America
• Citizens Bank
• TD Bank
• Brooklyn Coop Federal Credit Union (NYC.gov) 
• Students and their families will have access to:

Safe, affordable savings accounts right in their schools

Workshops on banking, budgeting, and protecting themselves from fraud

Early exposure to financial-career pathways

Research shows students with savings accounts are seven times more likely to attend college. This pilot is a direct investment in both educational and financial mobility. (NYC.gov)

🎯 Your Student Financial Action Plan: Five Steps to Get Started

It’s not just about big programs—it’s about what you can do now to build a strong financial foundation:

📋 NYC’s Top 10 Tips for Young Consumers

Adapted from the New York City Department of Consumer and Worker Protection (DCWP), here are essential money-habits for young people:

1. Open a bank or credit union account at an insured institution.
2. Understand what you’re buying—check return policies, subscription terms, and hidden fees.
3. Track your spending and live on a budget; know the difference between “need” and “want.”
4. Use credit responsibly—pay off balances in full when possible.
5. Starting a business? Even younger students can explore entrepreneurship with adult guidance.
6. Research investments thoroughly—never act on hype.
7. Protect yourself from scammers—especially online and on social media.
8. Know your rights as a young worker—pay, taxes, and employment protections matter.
9. Learn renter’s rights before you lease—brokers, fees, and contracts can surprise you.
10. Plan early for college/trade school: complete FAFSA, explore 529 savings plans, and understand tuition and financing.

These tips reinforce the broader initiative: build strong money habits now so students and families can step confidently into their financial futures.

📚 Free Financial Literacy Resources for Students, Parents & Educators

As part of this strategy, NYC offers many excellent, no-cost resources for learning money-skills:

🌟 A Generation of Financially Empowered Students

With dedicated financial educators in schools and credit unions like Brooklyn Coop joining as partners, New York City is actively building a culture of financial confidence.
By blending practical experience (opening accounts, budgeting, avoiding scams) with free high-quality resources, NYC is giving every student a chance to thrive financially—now and into the future.