Many Brooklyn students will participate in financial literacy classes this fall, thanks to a citywide program that will provide students and families with direct access to counselling and hands-on banking experiences.
New York City Mayor Eric Adams, alongside the Department of Consumer and Worker Protection (DCWP) and New York City Public Schools on Wednesday officially launched the Financial Literacy for Youth (FLY) initiative. The initiative in 15 public school districts is expected to serve more than 350,000 students and family members within its first five years.
Educators will offer free counseling, lead financial literacy workshops and help shape classroom materials tailored to students’ everyday lives. The program aims to prepare young people to make informed money decisions and avoid common financial pitfalls early on.
“Too many students leave high school knowing about chemical bonds but not Treasury Bonds; they learn how to do complex calculus but not how to do their taxes — that ends with our administration,” said Adams.
In addition to workshops and one-on-one support, FLY will introduce in-school banking pilots to give students real-world exposure to affordable and safe banking services. This hands-on experience is designed to help them build strong financial habits from a young age.
Participating districts in Brooklyn inlcude District 14 (Williamsburg, Greenpoint, Bedford-Stuyvesant); District 19 and 23 (Brownsville, Canarsie); and District 21 (Brighton Beach, Coney Island).
FLY builds on the city’s existing financial empowerment infrastructure, including the Save for College Program, which has opened scholarship accounts for nearly 280,000 kindergarten students. These accounts now hold over $45 million in total savings.
New Yorkers age 18 and older can access free financial counseling here or calling 311.
