Finance Education Partnerships in Delaware
GrantID: 15896
Grant Funding Amount Low: $10,000
Deadline: Ongoing
Grant Amount High: $20,000,000
Summary
Grant Overview
Workforce Development Gaps for Black Youth in Delaware
Delaware's economy, while historically rooted in agriculture and manufacturing, has shifted towards finance and services, yet a significant gap remains in financial literacy among its youth, particularly within Black communities. According to the Delaware Department of Labor, nearly 30% of Black residents report low financial literacy, which hinders their engagement in the economic landscape. The absence of financial education has long-lasting implications on personal finance management and career development.
Eligibility for Financial Education Programs in Delaware
Eligible applicants for this initiative include local financial institutions, educational nonprofits, and community organizations focused on empowering Black youth through financial education. Programs must be targeted at high school students and young adults aiming to build foundational skills in budgeting, investing, and understanding credit.
Moreover, organizations demonstrating a history of successful engagement with Black youth and a commitment to improving financial literacy will be favored. Local initiatives that develop partnerships with schools to provide integrated financial education within the curriculum will also be prioritized.
Application Requirements and Program Reality in Delaware
Applying for funding requires organizations to present a detailed outline of their proposed workshops, including objectives, expected outcomes, and partnerships with local financial institutions. The grant aims to fund programs that use interactive and practical approaches to teaching financial literacy, ensuring that students learn how to apply their knowledge effectively.
Additionally, successful applicants will need to show evidence of prior engagement with the community and an understanding of the specific financial needs of Black youth in Delaware. This reality highlights the importance of contextual education tailored to the unique economic challenges faced by students.
Implementation Strategy for Financial Literacy in Delaware
The implementation strategy involves establishing workshops led by industry professionals from local banks and credit unions, who will provide students with real-world insights into financial practices. Over time, these workshops will evolve into comprehensive mentorship programs, connecting students with professionals in the finance sector. Through such initiatives, Delaware aims to equip Black youth with the knowledge required to make informed financial decisions, paving the way towards economic empowerment and better career opportunities.
Eligible Regions
Interests
Eligible Requirements
