Charles Schwab Foundation Makes Nearly $600,000 in Grants and Scholarships to Support Financial Literacy in Dallas-Fort Worth

Rhea-AI Summary

Charles Schwab celebrated the one-year anniversary of its financial literacy program, Moneywise America™, by hosting 220 students from Uplift Education in Westlake, Texas. The event featured a $1,000 scholarship for each student, totaling $220,000 for scholarships. Additionally, grants included $220,000 for in-school financial education, $100,000 to Donors Choose for teacher projects, and $25,000 to The Players Company for financial literacy initiatives. Carrie Schwab-Pomerantz emphasized the importance of financial education for improving college access and financial stability.

Positive

• $220,000 in scholarships provided to Uplift Education students.
• $220,000 allocated for ongoing financial education in high schools.
• $100,000 granted to support local teachers' financial education projects.
• $25,000 donated to The Players Company for financial literacy initiatives.

Negative

• None.

WESTLAKE, Texas--(BUSINESS WIRE)-- Building on its decades-long commitment to financial literacy, Charles Schwab commemorated the one-year anniversary of its signature financial education program, Moneywise America™, by welcoming 220 Uplift Education students to its Westlake headquarters for an all-day financial literacy field trip and surprising students with a $1,000 scholarship to support post-secondary education opportunities.

Carrie Schwab-Pomerantz presents check for $220,000 to Yasmin Bhatia, CEO of Uplift Education (Photo: Business Wire)

In addition to $220,000 in scholarships, other grants announced at the event included:

• $220,000 to support ongoing, in-school financial education for all high school seniors in the Uplift Education network, taught by Moneywise America-trained volunteers during the 2022-2023 school year.
• $100,000 to Donors Choose, a national education nonprofit, to support funding for local teachers’ financial education projects.
• $25,000 to The Players Company, a collective of current and former professional athletes dedicated to enabling wealth-generation in under-resourced communities and educating youth and young adults in financial literacy.

“Access to financial education is disproportionate in our country, which is why Schwab is making free, high-quality financial education accessible to young people across the U.S.,” said Carrie Schwab-Pomerantz, president of Charles Schwab Foundation. “When people are financially literate, they’re more likely to go to college, have higher credit scores, and do better at work. They’re also better prepared to manage financial shocks that can derail their goals. We are honored and excited to celebrate the anniversary of Moneywise America here in Schwab’s hometown community and to support nonprofits focused on financial wellness across the Dallas-Fort Worth metroplex.”

Yasmin Bhatia, CEO of Uplift Education, said, “Far too many schools in our region and across the country are not sufficiently resourced to offer financial education alongside their core curricula. On behalf of more than 23,000 students at our 45 schools across Dallas-Fort Worth, we are grateful to Schwab for making Moneywise America available to our students today—as well as every student in America—and for their demonstrated commitment to improving financial literacy at Uplift schools and across the metroplex.”

Uplift Education serves a diverse range of students from low-to-moderate income neighborhoods.

Moneywise America and the financial literacy event aim to help level the economic playing field for teens across America, especially those in under-resourced communities. Moneywise America builds upon Schwab’s decades-long legacy of financial wellness programming, which has benefited millions.

• Money Matters, a financial literacy program created by Schwab in partnership with Boys & Girls Clubs of America (BGCA), has reached more than 1.1 million teens at BGCA clubs across the United States.
• With DonorsChoose, Schwab designed the Innovation Challenge to fund and support development of new classroom financial literacy projects that have reached more than one million students across all 50 states.
• Schwab sponsors SIFMA Foundation’s annual Capitol Hill Challenge™, a curriculum-based investment simulation that helps bridge the financial education gap for youth in under-resourced communities by pairing members of Congress with low-income schools to advance financial capability, capital markets literacy and civics education.

About Charles Schwab

At Charles Schwab (NYSE: SCHW) we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity. More information is available at www.aboutschwab.com. Follow us on Twitter, Facebook, YouTube and LinkedIn.

About Charles Schwab Foundation

Charles Schwab Foundation is an independent nonprofit public benefit corporation, funded by The Charles Schwab Corporation and classified by the IRS as a charity under section 501(c)(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. (member SIPC) nor its parent company, The Charles Schwab Corporation. Its mission is to educate, volunteer and advocate on behalf of those in need so that everyone has the opportunity to achieve financial well-being. More information is available at www.schwabmoneywise.com/foundation.

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E.J. Bernacki

Charles Schwab

Phone: 720-329-9273

e.j.bernacki@schwab.com

Source: The Charles Schwab Corporation