Synchrony Financial Launches $1 Million Initiative to Boost K-12 Financial Literacy Education
- Synchrony Financial invests $1 million in financial education for K-12 educators through its Empowering Financial Futures initiative.
- The initiative aims to provide educators with resources to improve personal finance teaching and student engagement.
- Synchrony's efforts also include launching a Financial Literacy Service Corps to enhance community financial literacy and educational outcomes.
Synchrony Financial's Initiative to Enhance Financial Literacy in Education
Synchrony Financial (NYSE: SYF) announces a $1 million initiative over the next two years aimed at bolstering financial education for K-12 public educators across the United States. The initiative, named Empowering Financial Futures, emerges from a recent survey commissioned by Synchrony, revealing that over 80% of teachers deem financial education vital for student success. However, a significant two-thirds of educators express challenges in engaging students, citing a lack of relevant teaching materials as a key barrier. As part of its broader philanthropic effort, dubbed Education as an Equalizer, Synchrony aims to improve access to education and financial literacy resources within local communities.
Denise Yap, President of the Synchrony Foundation, underscores the initiative's focus on equipping educators with essential tools and resources to effectively teach personal finance. By fostering financial security and economic mobility among students, Synchrony aims to address a critical gap in the educational system. The urgency of this initiative is reinforced by findings from the 2024 Survey of States by the Council of Economic Education, which shows that only 35 states mandate personal finance courses for graduation. This leaves a notable portion of students without formal financial education, highlighting the pressing need for programs like Empowering Financial Futures.
In tandem with the financial education initiative, Synchrony is launching an employee-led Financial Literacy Service Corps. This program aims to extend financial literacy expertise into local communities, further amplifying the company's commitment to enhancing educational outcomes. Synchrony's multifaceted approach reflects its dedication to not only improving financial literacy but also ensuring students are better prepared for their financial futures. By investing in educators and the resources they need, Synchrony endeavors to create a more financially literate generation capable of navigating the complexities of personal finance.
In addition to its educational initiatives, Synchrony recently partnered with Audibel to provide CareCredit credit card and installment loan solutions for audiology services. This collaboration aims to address the financial barriers that prevent individuals from seeking necessary audiological care. Furthermore, Synchrony celebrates the expansion of the Synchrony Emerging Technology Center at the University of Illinois Urbana-Champaign, which has facilitated hands-on technology experience for over 400 students. This center serves as a vital talent pipeline and reflects Synchrony's commitment to fostering innovation and preparing students for future job markets.
