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Drew Scott, CEO and Founder of An Early Learning Financial Literacy Program (ELFLP), is shaping financial futures.
For updates and more information, you can follow Drew on Instagram @Thefinancialliteracyguy and on Twitter/X @Finlitguy.
In honor of Financial Literacy Month, we are spotlighting Drew Scott, the visionary behind ELFLP, and a key partner of Newark Youth Career Pathways (NYCP).
From his beginnings in the banking world to spearheading innovative educational programs, Drew has dedicated his financial education journey to empowering urban youth with the tools they need for financial success. His insights and experiences offer invaluable lessons on the importance of financial education and its impact on breaking the cycle of poverty and building generational wealth.
In his interview, we explore the challenges, triumphs, and transformative power of financial literacy.
Q: How did the partnership between ELFLP and NYCP come about, and what are some outcomes of this collaboration?
Our partnership began through our role in managing Newark’s Summer Youth Employment Program’s financial education component. This collaboration flourished into what I like to call our four-year 'milk and cookies' partnership with NYCP. If you’re talking about preparing young people for post-secondary options, whether it’s the workforce or education, there’s a financial component to it, where financial education is seamlessly integrated into career readiness. So, you can’t have one without the other—milk and cookies.
NYCP is a dream partnership that allows us access to students while in high school to help ensure they graduate with a solid financial education foundation. We created a customized curriculum for NYCP that inspired me to develop a financial literacy handbook that is aligned with the New Jersey State Standards for graduation for 10th, 11th, and 12th graders, which ensures that students always have something they can reference.
Q: Can you share a bit about your background and what inspired you to start ELFLP?
With a solid background in business administration and experience as a licensed investment banker, I witnessed firsthand the gaps in financial education among urban youth. This realization came sharply into focus when observing my son's elementary school experiences, inspiring me to launch ELFLP. Our tagline says it all, "Teach young people early what we learn late." Our mission is to bridge these educational gaps and combat the cycle of poverty.
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