Win a Scholarship!
As you can imagine, financial literacy is of utmost importance to us here at Investment U.
So we’re about to take our battle against financial illiteracy to another level.
That’s because we recognize the acute financial literacy crisis in the United States.
According to a survey conducted last year by WalletHub, only one U.S. state (New Hampshire) achieved a financial literacy score above 70 on a scale of zero to 100.
Thirty-three states scored in the D range… and the rest failed the test.
What’s the result of this national paucity of financial knowledge?
Well, 4 in 10 middle-class Americans will live in poverty in their retirement years. Seventy percent plan to work well past retirement age for financial reasons. And the number of bankruptcies for those older than 65 has increased dramatically.
And more than 40% of adult Americans have saved less than $10,000 for retirement.
We like to think that Investment U is on the front lines of the battle against this scourge. To keep it that way, we’re ramping up our efforts.
We’re partnering with The Oxford Club to assist undergraduates with an interest in finance and investing.
Two $5,000 scholarships will be awarded. One will be given to a student who is a dependent of an Oxford Club Member, and the other is open to all student applicants. These students need to be 25 or younger and planning to continue their education at two- or four-year colleges or universities, or at vocational-technical schools, anywhere in the U.S.
Applicants for these scholarships will need a grade-point average of 2.5 or higher. And they will need to complete a 300-word essay on the importance of financial literacy.
The two winners will be selected by a panel of Investment U and Oxford Club employees, including Income Expert Marc Lichtenfeld, who is on a crusade for financial literacy.
We welcome you, your kids or your grandkids to apply now through December 17.
The details and the application are here.
Good investing (and good luck!),
About Matt Benjamin
Matt has worked as an editorial consultant to the International Monetary Fund, the World Bank, the Economist Intelligence Unit and other global macro-institutions. He wrote about markets and economics for U.S. News & World Report, Bloomberg News and Investor’s Business Daily, among other publications. He also worked for several years as head of political economy for a Financial Times-owned macroeconomic consulting firm, advising hedge funds around the world. Matt’s claim to fame is that he’s interviewed two U.S. presidents and has spoken with five Federal Reserve Chairs from Paul Volcker through Jerome Powell. Matt also served as The Oxford Club’s Editorial Director for two years.