Shoutout to 21 Savage, who reportedly wants to teach the new generation about financial literacy. Where was he when were signing our life away to the student loan overlords?
The "Bank Account" rapper appeared on The Ellen DeGeneres show to announce his new partnership with Get Schooled, a nonprofit that helps high school students navigate the college search and financial aid process. Users of the site can earn points for reading articles or completing activities, which they can redeem for rewards. 21 Savage is also donating $21,000 to help teens start their first bank accounts, with 21 teens winning a $1,000 starter nest egg from Amber Rose's boyfriend. Interested youths can sign up at Get Schooled to learn more.
Financial literacy is not taught in most schools, which is baffling. High school students need to learn about FICO scores, interest, home equity, and overdraft fees just as much as they need to learn about trigonometry and the fall of Rome. Our first introduction to credit was getting a Best Buy credit card at 18 and buying a bunch of video games at 30% APR and then avoiding collection calls from someone named Mark. Seriously though, kids today — especially those from low-income areas — face a completely different financial landscape than their older millennials counterparts. Teens can expect skyrockting college tuition costs, stagnating wages, and the instability of Social Security, so financial literacy is crucial is setting them for success.