High school students across Delaware are gaining essential life skills through the Keys to Financial Success program, a semester-long personal finance course authored by the University of Delaware’s Center for Economic Education and Entrepreneurship (CEEE) in partnership with the Federal Reserve Bank of Philadelphia.
The course empowers students with critical financial knowledge—from budgeting and saving to investing and planning for the future—and encourages them to consider how financial literacy can create more equitable opportunities.
Students enrolled in the program recently demonstrated their understanding through essays reflecting on the prompt: How might personal finance education lead to more equitable outcomes? Two students: Lily Phillips of Saint Mark’s High School and Aidan Mahoney of Archmere Academy, each received a $2,500 scholarship from the Delaware Bankers Association for their compelling responses.
“Talking about finances can be seen as off limits,” Phillips wrote. “This is why financial literacy classes can lead to more equitable outcomes. These classes help to break the cycle and level the playing field for those who are working hard but don’t have anyone to talk to about financial matters and don’t know where to start.”
Mahoney echoed that sentiment: “Programs such as Keys are big steps in the right direction toward giving everyone equal opportunity and breaking the cycle of financial illiteracy.”
He added that personal finance education offers a clearer path forward: “Without financial education, the path to a successful career is blurry for many. My teacher has drilled into our heads the strategy of leveraging a current employer to invest in your further education if they want you to be more qualified.”
Phillips noted the broader impact of the program on her confidence and future decision-making:
“I have learned essential skills that I will need in the real world and gained confidence in my abilities concerning my finances. Financial literacy is much more than numbers and dollar signs—it’s about making informed decisions that will set you up for the best possible future.”
Behind each student’s success is a dedicated educator. Mark Hannagan, a teacher at Archmere Academy, praised the program’s accessible and engaging content: “The CEEE’s easy-to-approach lessons, which range from financial goal setting to investing, have made challenging material engaging and fun to learn and teach. The wide variety of lessons and assessments keeps each day fresh and helps maintain student engagement.”
Hannagan also emphasized the value of the professional development offered through the CEEE and Federal Reserve partnership:“The summer training was very helpful in learning how to properly roll out different styles of lessons, like the role-playing activities. Many students have never been exposed to the ideas covered in Keys. One of the m ost important concepts they learn is saving. When we do the activity comparing someone who saves early versus later in life, students are amazed by the power of compound interest.”
Keys to Financial Success includes 47 lesson plans designed to actively engage students in personal finance topics through collaborative and internet-based learning. Throughout the course, students develop a personalized financial portfolio—intended as a long-term resource to guide their future financial decisions.
By investing in both educator preparation and student learning, the CEEE at UD’s Alfred Lerner College of Business and Economics continues to advance a more financially literate, equitable and empowered future for all.