Local Teens Gain Real World Finance Experience
Three of the students who participated in the program pose for a picture.
A new program for high school seniors led by the nonprofit Delta Magic is helping increase awareness of banking and budgeting, just in time since April is financial literacy month.
The Rising Leaders program kicked off in late February and runs through the end of April. A group of a dozen high school seniors from local high schools are meeting weekly at the Boys and Girls Club of Phillips County to learn about personal finance and leadership from elected officials and Partners Bank experts. The program is made possible in part through the Walton Family Foundation, which supports Delta Magic’s youth leadership and sustainable growth efforts.
Students who complete the program will receive up to $500 and a bank account, plus have a chance to be selected for a paid internship at Partners Bank and receive a scholarship to Phillips Community College of the University of Arkansas. All 11 of the students grew by at least 20% in financial literacy standards, and some even grew by as much as 60%.
"I'm so grateful to Partners Bank and Delta Magic for making sure that I had a chance to learn about personal finance, especially about how to buy a house and avoid predatory lending,” said Morgan, one of the participants.
High school seniors from Central High School, DeSoto High School, and KIPP Delta Collegiate High School are participating in the program.
“The young adults in our community are integral to the future of our community, and we’re proud to partner with our supporters to offer this program and help local students gain more practical skills,” said Drew Smith, the President of Delta Magic. “The lessons that the students are learning are foundational to economic mobility.”
The current students represent the first cohort of Rising Leaders, but Delta Magic officials hope to offer additional rounds of the eight-week program in the future.
"I feel more confident graduating from high school now that I have these personal finance skills,” said Amaya, one of the participants. “I'm about to go to college and now I know how to use financial aid to pay for it!"