How New York Life is Supporting “Golden Futures” During Financial Literacy Month and Beyond

April is Financial Literacy Month—and, while it’s important for everyone to know personal finance basics, it’s particularly vital for students and families working to pay for college.

As the Harvard Kennedy School reports, young adults are lagging in terms of financial education, and that’s costing them in both the present and the future:

Despite an avalanche of online resources, young adults still lack the basic financial know-how to make smart decisions. Studies reveal less than 1 in 5 adults aged 18 to 25 save and invest for retirement, and those who wait just a few years can end up paying tens of thousands more to catch up. Meanwhile, a MoneyRates survey shows that people who begin saving in their twenties are 66% more likely to retire by 60 and afford major life expenses – like a down payment on a home or paying off student loans – versus those who wait until their 30s or later, underscoring the power of early action.

For students pursuing higher education or career training, the time to start learning and saving is now. It’s crucial that those students have a solid base of financial understanding as they embark on their next steps. And that’s why Scholarship America is proud to administer programs like the New York Life Golden Futures Scholarship, which combines important financial literacy education with generous scholarship opportunities.

What is the Golden Futures Scholarship?

The scholarship program provides 20 scholarships totaling $280,000 to high school juniors and seniors. Students complete interactive modules on topics like budgeting, saving and credit, helping them build practical financial skills during high school. The more modules’ students complete, the more they can earn—Students who complete at least 25 modules are eligible to apply for $10,000 awards. Those who complete at least 50 modules may apply for both $10,000 and $20,000 awards. In total, 20 scholarships totaling $280,000 will be awarded to students across four geographic zones nationwide, helping make college, university or trade school more accessible.

The scholarship launched in 2025 as the Financial Empowerment Scholarship; it is now a part of New York Life’s growing Golden Futures initiative, which also allows parents and guardians to nominate their 5- to 16-year-old children for one of 100 awards of $1,000.

“Golden Futures is how we bring our ‘More powerful, together’ brand promise to life for families,” said Lisa Thomsen, CVP and head of Digital Marketing and Sponsorships, New York Life. “When we support a child’s early passion or help a student build financial confidence, we’re demonstrating the role New York Life plays in people’s lives not just today, but over time.”

Working Together for Student Success

Scholarship America worked with New York Life to launch the original Financial Empowerment Scholarship in 2025, and we are proud to continue administering the Golden Futures Scholarship this year. Our mission is to eliminate financial barriers to higher education for students facing financial need, and program sponsors like New York Life are crucial partners in that mission.

Together, we can help students like Jessica, who developed an understanding and passion for financial education while working during high school. “I first witnessed the real-world impact of financial literacy while serving customers at the Cook County Treasurer’s Office,” she says. “Most visitors’ questions could have been resolved with a fundamental understanding of the property tax system, and the unequal access to financial education was reflected in the city’s noticeable segregation in property values and tax payment rates. … In college, I plan to combine my passion for education with economics to work in the field of financial education, empowering others to make informed monetary decisions. After graduation, I aim to create and implement an accessible financial literacy curriculum for high school students in economically disadvantaged urban areas. By doing so, I hope to help them recognize the value and long-term benefits of pursuing higher education.”

Creating Your Golden Future

As we continue to observe Financial Literacy Month this April, there’s never been a better time for you or the students in your family to take charge of your financial education.

Parents of students ages 13+ can register for the Zogo financial education app here. Share the code with your student to get them started. Please note that only current high school juniors and seniors will be eligible to apply for the Golden Futures Scholarship.

Learn more via the New York Life Golden Futures website! Applications are open through June 1, so encourage your students to get started today.