Ohio State academy empowers teens with essential financial skills

The Ohio State University is taking significant strides in enhancing financial literacy among young individuals through its innovative Financial Planning Academy. This program, aimed at high school students from central Ohio, pairs them with experienced financial professionals to equip them with essential personal finance skills and insights into the financial planning profession. Held from June 23 to 27 at the Columbus campus, this academy is part of a nationwide initiative supported by Texas Tech University and funded by the Charles Schwab Foundation. By fostering an understanding of critical topics such as budgeting, investing, and estate planning, Ohio State is preparing the next generation for financial success.

Empowering Students Through Financial Education

The 2025 Financial Planning Academy was designed to provide high school juniors, sophomores, and seniors with a comprehensive overview of personal finance. According to Caezilia Loibl, a professor in the College of Education and Human Ecology (EHE) who oversees the program alongside colleagues George Rooney and Katelyn Tatum, the curriculum covers all essential topics including cash management, debt management, investing strategies, retirement planning, insurance considerations, and estate planning.

Participants engaged in small group activities focused on real-world financial case studies. Under the guidance of seasoned financial planners and Ohio State students majoring in finance-related fields, these high schoolers developed detailed financial plans addressing various scenarios presented in a case study created annually by Texas Tech University.

Hands-On Learning Experience

The case study involved a fictional couple facing various financial challenges despite having stable incomes. This immersive approach allowed students to gain practical experience while working collaboratively on solutions that they later presented to judges comprising industry professionals.

Loibl highlighted that the engaging nature of this hands-on learning fosters critical thinking skills among students as they analyze complex situations and devise actionable plans. The academy culminated with group presentations where students showcased their proposed solutions for the fictional couple’s finances.

Pitching Financial Business Ideas

A unique aspect of this academy was encouraging participants to pitch their own ideas for starting financial planning firms. Family members present acted as mock investors during these pitches using play money to simulate investment scenarios. This interactive element not only promoted creativity but also helped students practice articulating their business strategies effectively.

Real-Life Impact on Students

Binta Ndiaye, a recent graduate from Cristo Rey Columbus High School who will begin her studies at Ohio State this fall, expressed how invaluable her experiences were during the academy. She reflected on lessons learned about budgeting while recognizing that managing monthly income involves more than just covering basic expenses—it includes health insurance costs, debt repayment, and everyday expenditures that often go unnoticed.

Cameron Uttley, a senior financial planner with John E. Sestina and Company who participated as an instructor at the academy remarked on how impressed he was with the depth of questions posed by participants. He noted that even retaining just 25% of what they learned throughout the week would give these students an extraordinary advantage over their peers.

A Mutual Learning Experience for Mentors

Chase Studer—a business and financial planning major at Ohio State—shared his perspective on mentoring during this camp: “I wanted to do this not only for my own learning but primarily to help younger students seize opportunities I didn’t have access to in my own high school experience.” His involvement underscored how such initiatives can bridge gaps in education across generations.

Building Financial Literacy Early On

Diamond Zimmerman—an alumna from Ohio State now working as a client services associate—emphasized that programs like this provide young people with crucial knowledge early in life about managing finances responsibly. “They are gaining an appreciation for their parents’ hard work while learning how they can take charge of their own finances,” she stated confidently about the impact these lessons will have long-term.

The Lasting Benefits of Financial Education

This initiative reflects an important commitment by educational institutions like The Ohio State University toward empowering future generations through enhanced fiscal responsibility awareness and professional development within finance-related careers. As demonstrated through enthusiastic participation from both mentors and students alike at this year’s academy—financial education remains essential not just academically but practically throughout life.

This program exemplifies how investments into youth education today can yield profound benefits down the road; equipping them with knowledge that ultimately leads toward wiser decision-making regarding personal finances throughout adulthood.