Mayor Adams, DCWP, NYC Public Schools Unveil 'Financial Literacy for Youth' Initiative, Announce First School Districts to Receive Financial Educators for Students

June 18, 2025

Watch video here at https://www.youtube.com/watch?v=YJUSPL9elV8

Unveiled in State of the City Address Earlier This Year, ‘FLY’ Will Ensure Every Public School Student Can Learn How to Save and Spend Money

Educators Will Provide Counseling, Lead Workshops, and Help Create Curricula for Students Starting in Coming School Year 

Over 350,000 Public School Students and Family Members Will Be Served Within First Five Years of Program Alone 

New York City Becomes One of First Public School Systems in Nation to Place Financial Educators in Schools

NEW YORK – New York City Mayor Eric Adams, New York City Department of Consumer and Worker Protection (DCWP) Commissioner Vilda Vera Mayuga, and New York City Public Schools Chancellor Melissa Aviles-Ramos today unveiled key details of the Adams administration’s “Financial Literacy for Youth” (FLY) initiative to make sure that every public school student can learn how to save and spend money by 2030. As part of today’s announcement, Mayor Adams unveiled the first 15 public school districts to receive financial educators, who will provide students and their families with free counseling and workshops starting this upcoming school year. Financial educators will also help develop classroom resources to build responsible financial habits. Financial educators will have specialized skills in leading workshops and trainings, as well as experience working with young people and families; they will support teachers and families to foster a financially-healthy environment for all school children. More than 350,000 public school students and family members will be served by financial educators through counseling, workshops, and other resources in the first five years of the program. Ultimately, the Adams administration will place a financial educator in every single district by 2030 as part of its FLY initiative, making New York City one of the first public school systems in the United States to deploy financial educators directly to schools and support students with this valuable resource. First announced in Mayor Adams’ State of the City address earlier this year, FLY will also pilot in-school banking to give students real-world exposure to safe and affordable banking options and explore additional ways to give students hand-on experience learning about saving and managing money.

“Making New York City the best place to raise a family means giving our young people the tools to succeed. Too many students leave high school knowing about chemical bonds but not Treasury Bonds; they learn how to do complex calculus but not how to do their taxes — that ends with our administration,” said Mayor Adams. “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. Today’s announcement will help us reach that goal — giving students, their family members, and their teachers the resources to succeed. This time next year, when students in these 15 districts have a question about opening a bank account or buying their first stock, they’ll have a valuable new tool to use. We’re not stopping there though; soon, we’ll bring these counselors to every district and expand our Financial Literacy for Youth initiative to set even more of our public school students on the path towards success.”

“Helping our young people start early in building a foundation of financial literacy is a key component of our administration’s efforts to invest in New Yorkers and their economic potential,” said Deputy Mayor for Housing, Economic Development, and Workforce Adolfo Carrion, Jr. “I am thrilled to see the FLY initiative take off in the coming academic year and look forward to seeing a culture of financial empowerment spread into all corners of our city’s public school system. Congratulations to the teams at 5”the Department of Consumer and Worker Protection and at New York City Public Schools for leading the charge on this important investment in our future.”

“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. Thank you to Mayor Adams and to Chancellor Aviles-Ramos for partnering with us to help our young people secure their financial futures.”

“Financial literacy is a fundamental life skill that sets our students up for success,” said Public Schools Chancellor Aviles-Ramos. “Programs like ‘FLY’ will equip our students with the knowledge to make informed decisions about saving, spending, and investing, helping them become confident in making financial decisions. This program also builds upon the existing financial literacy curriculum over 15,000 students are receiving in our 135 FutureReadyNYC high schools. We are grateful for Mayor Adams and Commissioner Mayuga’s commitment to ensuring this core skill is a part of every student’s education.”

The Adams administration is taking an innovative and multi-pronged approach to give young people the tools they need to build healthy financial habits and set them on a path to success in adulthood. In the coming school year, DCWP will deploy financial educators to 15 select public school districts to provide counseling and lead workshops for school children and their families. The first 15 participating school districts — which were selected based on high rates of unbanked neighborhoods and existing participation in New York City Public Schools’ FutureReadyNYC program — will be:

Ultimately, the Adams administration will expand youth financial empowerment counselors to all school districts. Additionally, FLY will provide in-school banking in underbanked communities to give students real-world exposure to safe and affordable banking options and explore additional ways to give students hand-on experience learning about saving and managing money. FLY was informed by a public forum DCWP held in November 2024 to solicit insights and recommendations from students, teachers, families, and experts on the subject of youth financial empowerment and addressing the gaps in financial education and resources for young adults. Following that hearing, DCWP released “From Tween to Twentysomething: Helping Young People Secure the Bag,” a comprehensive report summarizing testimony and key panels at the public forum.

FLY builds on DCWP’s work helping New Yorkers build responsible financial habits, manage debt, and keep more money in their pockets. Since 2008, DCWP’s Financial Empowerment Centers have helped tens of thousands of New Yorkers improve their credit, reduce their debt by more than $120 million, and increase their savings by more than $13 million through free one-on-one financial counseling services. FLY also builds on the Adams administration’s investment in scholarship accounts for college and career training to public school students beginning in kindergarten through the Save for College Program. To date, nearly 280,000 public school students have an NYC Scholarship Account with more than $45 million accumulated for their educational futures. From the Save for College Program to FLY to Financial Empowerment Centers, New York City now offers a comprehensive, multi-generational financial empowerment strategy. New Yorkers 18 and older can visit DCWP's Financial Counseling webpage or call 311 and say “financial counseling” to schedule an appointment or for more information.

The NYC Department of Consumer and Worker Protection (DCWP)—formerly the Department of Consumer Affairs (DCA)—protects and enhances the daily economic lives of New Yorkers to create thriving communities. DCWP licenses more than 45,000 businesses in more than 40 industries and enforces key consumer protection, licensing, and workplace laws that apply to countless more. By supporting businesses through equitable enforcement and access to resources and, by helping to resolve complaints, DCWP protects the marketplace from predatory practices and strives to create a culture of compliance. Through its community outreach and the work of its offices of Financial Empowerment and Labor Policy & Standards, DCWP empowers consumers and working families by providing the tools and resources they need to be educated consumers and to achieve financial health and work-life balance. DCWP also conducts research and advocates for public policy that furthers its work to support New York City’s communities. For more information about DCWP and its work, call 311 or visit DCWP at nyc.gov/dcwp or on its social media sites, Twitter, Facebook, Instagram, and YouTube.

Media Contacts:
Michael Lanza / Stephany Vasquez Sanchez
Department of Consumer and Worker Protection
(212) 436-0042
press@dcwp.nyc.gov