Introduction to FLY Program
Many of us have wished we had learned about day-to-day budgeting and finance in school rather than the obscure math classes we never used again once we graduated. Part of that wish will soon be available to NYC public school students. On Wednesday, at a press conference at Brooklyn Collegiate Preparatory High School, Mayor Eric Adams announced the launch of FLY — Financial Literacy for Youth, a new citywide program to bring financial educators directly into local public schools this fall.
Program Overview
With FLY, over 350,000 students and their families will soon have access to free workshops, one-on-one financial counseling, and real-world money lessons, all designed to help them build healthy financial habits early on. “Too many students leave high school knowing about chemical bonds but not Treasury Bonds,” said Mayor Adams. “That ends with our administration.” Students will still learn the typical math and science classes. “To succeed in the 21st century, students need to learn how to do both, which is why we set an ambitious goal of making sure that every public school student can learn how to save and spend money by 2030,” explained Adams.
How FLY Will Work
Though it will start with 15 select schools this fall, the program’s goal is to teach every NYC public school student how to save and spend money responsibly. Starting this upcoming school year, the FLY program will:
- Send financial educators to 15 school districts around the city
- Provide free financial counseling and workshops for students and their families
- Launch in-school banking programs to help kids learn how to manage real accounts
- Teach important money topics, including different types of bank accounts and products. Students will learn to budget their money, understand and build credit and recognize scams and bad financial advice.
Program Funding and Expansion
The program is backed by a $25 million investment over five years, and the long-term plan is to bring FLY to all 32 school districts by 2030.
School Districts Starting FLY This Fall
The first 15 districts were picked because they include neighborhoods where a lot of families don’t have bank accounts. These districts are also part of the city’s FutureReadyNYC program, an initiative from the Adams administration to help schools offer new career paths. Students in the program can explore jobs in education, tech, business, and health care, and get paid work experience while they’re still in school. If you live in one of these districts, your child’s school could be among the 154 schools getting financial educators this fall:
- Manhattan: Districts 2, 3, and 5 (Chelsea, Central Harlem, Upper East & West Sides)
- Bronx: Districts 7–12 (Hunts Point, Fordham, Belmont, Mount Eden, Parkchester, and more)
- Brooklyn: Districts 14, 19, 21, and 23 (Williamsburg, Brownsville, Coney Island, and Canarsie)
- Queens: District 30 (Astoria, LIC, Jackson Heights, North Corona)
- Staten Island: District 31
Benefits of FLY Program
“Programs like FLY will help students feel confident when making financial decisions,” said Schools Chancellor Melissa Aviles-Ramos. “It’s a life skill that can benefit them forever.” “The best way to set our children up for financial success is to prevent them from making the same financial mistakes that we’ve all made in our lives, but for too long, young people have been left out of our efforts to financially empower New Yorkers,” said DCWP Commissioner Vera Mayuga. “With ‘FLY,’ we will make sure our that city’s children are able to reach for the clouds and soar toward their financial goals.
Conclusion
The FLY program is a significant step towards empowering NYC public school students with the financial knowledge and skills they need to succeed in life. By providing access to financial education and resources, the program aims to help students build healthy financial habits and make informed decisions about their financial futures.
FAQs
What is the FLY program?
The FLY program, or Financial Literacy for Youth, is a new citywide program that aims to bring financial educators directly into local public schools to teach students about day-to-day budgeting and finance.
How many students will the FLY program reach?
The FLY program will reach over 350,000 students and their families in NYC public schools.
What topics will the FLY program cover?
The FLY program will cover important money topics, including different types of bank accounts and products, budgeting, building credit, and recognizing scams and bad financial advice.
Which school districts will the FLY program start with?
The FLY program will start with 15 select school districts in NYC, including districts in Manhattan, Bronx, Brooklyn, Queens, and Staten Island.
How is the FLY program funded?
The FLY program is backed by a $25 million investment over five years.
What is the long-term goal of the FLY program?
The long-term goal of the FLY program is to bring financial education to all 32 school districts in NYC by 2030.
