Turning Financial Literacy from a Privilege to a Right by Vedant

Turning Financial Literacy from a Privilege to a Right by Vedant - March 2025 Scholarship Essay

In 2022, Credit Suisse found that 47.8% of global household wealth is owned by a meager 1.2% of the population. Economic inequality has been detrimental to humanity since the earliest forms of currency. With the goal of making a meaningful contribution to its resolution, I specialized in one area with potential for change: financial literacy.
The seeds of my passion took root when I noticed a disheartening trend in my community: many local talents, from masterful chefs to unconventional artists, were held back by limited exposure to monetary instruments that could expand their reach and expose their gifts to larger audiences. This underemphasized gap in financial education exacerbates economic inequality by barricading arguably the most essential facet of wealth: knowledge. So after further field research, I decided financial literacy was the path through which I could combat the knowledge gap.
After investing several months in reading articles, talking to experts, and curating the elements of my curriculum, I launched my financial literacy class. Here, I educate students with serviceable skills like spending productively and managing risk. It’s open to students both online and in person, offering three class periods tailored to different age groups. This ensures that more practical and complex topics are covered with older audiences while foundational topics are studied with younger ones. The classes occur weekly and last a total of six weeks.
Since its inception, this program has not only instilled financial literacy in over 850 students but has also provided me with constructive experiences provided me with constructive experiences that taught me how to work through unexpected setbacks. From venue cancellations to registration shortages, this venture has strengthened my dedication and resilience. I am also proud to share that I have been awarded $500 in seed funding for this project from the Taco Bell Foundation and Ashoka Changemakers’ 2024 Ambition Accelerator.
I cherish these accomplishments deeply, and I aim to continue pushing forward by utilizing not only the next 10 years but as much time as possible to expand the reach of my initiative and help make real progress in reducing economic inequality. In college, I hope to take advantage of the vast research infrastructure provided to me by participating in field-based research teams. By actually visiting economically disadvantaged areas and personally studying factors that caused this inequality, I will be able to help develop effective solutions that drive real change in society. Furthermore, at economics workshops and conferences, I look forward to learning from experienced researchers and refining my ability to critically analyze complex economic issues—possibly sparking ideas for other future contributions to reduce economic inequality. Overall, I am passionate about making a difference in the fight against this issue, and I believe that earning this scholarship will support my goals and interests in a way that will enable me to do so.