Teen Financial Literacy Funding Comes to Fairfield County

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(Columbus) – The Ohio Department of Commerce’s Division of Financial Institutions today announced Connexion West will receive $18,750 in grant funding to provide financial literacy education to teens and young adults throughout Fairfield County. 

According to the Ohio Department of Education Local Report Card, 49.2% of students at Lancaster High School are economically disadvantaged. The current enrollment at Lancaster High School is 1,804 students, with 479 special needs students, however the absentee rate is 45.3%. Based on the most recent Fairfield County Youth Behavior Survey, 72.7% of students wished to go to college. But per the US Census Bureau’s data for Lancaster, Ohio, during the period of 2017-2021, only 20.9% of people aged 25+ had earned a bachelor’s degree or higher.

“The need to provide financial literacy is critical in today’s economy, especially for children and young adults in underserved communities,” said Commerce Director Sherry Maxfield. “This is why financial literacy funding is a must for our local communities. I am very proud of the impact that our funding provides in helping community centers like Connexion West, as they continuously commit to empowering our youth to understand their financial capabilities and help them develop skills to effectively manage their personal finances.”

Connexion West currently hosts financial classes for families that are focused on budgeting, investing and debt free solutions. With additional grant funding, Connexion West will launch a new program focused on financial freedom and literacy for students 13-21 years old through Ramsey Education’s Foundations in Financial Literacy curriculum. Programming will take place at Connexion West, with the potential to host face-to-face classes at Ohio University’s Lancaster branch. 

The Financial Literacy Education Fund is financed through a quarterly transfer of 5% of all charges, penalties, and forfeitures levied by the Division of Financial Institutions’ Consumer Finance section. Grant awards are given annually at the discretion of the director of Commerce.

Those interested in future funding cycles can contact the Division of Financial Institutions’ Office of Consumer Affairs by calling 866-278-0003.