banking, cml, consumers, Financial Education|

The Kansas Office of the State Bank Commissioner (OSBC) has awarded five scholarships totaling $10,000 to five recent Kansas high school graduates. The students wrote essays demonstrating their knowledge of money management and the importance it has on their future in this year’s Kansas Financial Scholars Essay Contest.

Sean Wagner, from Satanta Jr./Sr. High School, earned the first-place designation in the annual contest sponsored by the Kansas Office of the State Bank Commissioner (OSBC). Sean plans to attend Kansas State University to pursue a degree in Accounting and Finance and will receive a $3,000 scholarship towards his education.

The second-place scholarship of $2,500 was awarded to Tarek Koelsch from Smith Center High School, Madison Ross from Satanta Jr./Sr. High School earned third, and a $2,000 scholarship. Fourth, with a $1,500 scholarship was Kaydence Voyles from El Dorado High School, and the fifth scholarship of $1,000 goes to Katelyn Koester from Conway Springs High School.

When asked about this year’s scholarship contest, Bank Commissioner David Herndon said “Again, this year, the quality of scholarship applicants was superb as evidenced by the essays each submitted. The research, content, and quality of their essays impressed our judges and certainly made their decision challenging in determining the scholarship winners. But that’s a good thing because it demonstrates the talents and deservedness of our winners.”

Consumer Affairs Manager Kristy Hanshaw added “The OSBC scholarship committee would like to congratulate the 2023 winners on their excellent essays highlighting the importance of financial literacy. The essays showcased all that the students had learned through firsthand experiences as well as through their financial literacy coursework. These students have bright futures, and we wish them each continued success.”

To be eligible for this scholarship, students must have completed a financial literacy program that aligns with the Kansas financial literacy K-12 standards, and they must be attending a Kansas technical school, college, or university in the Fall of 2023. To enter, the students were asked to submit a two-part essay. The first part discussed how they learned about money management, and its effect on their approach to managing financial decisions for their continued education. For the second part, they described how they used the knowledge gained through their financial literacy program and personal experience. The essay also required research and the use of an educational cost calculator.

Sean Wagner’s winning essay and additional information about the winners will be available on the website of the Office of the State Bank Commissioner: 2023 Scholarship Contest

Educating Kansas consumers is an important part of the mission of the OSBC. There are many different financial literacy programs and curriculum used in high schools and this contest challenges students to use that knowledge to research and analyze decisions they will make for their futures. The scholarships are funded by fines imposed upon, or settlements reached with, companies within the jurisdiction of the sponsoring state office; no taxpayer monies are used.

The OSBC regulates all state-chartered banks, trust companies, mortgage businesses, supervised lenders, credit service organizations, and money transmitters that do business in the State of Kansas. The mission of the OSBC is to ensure the integrity of regulated providers of financial services through responsible and proactive oversight, while protecting and educating consumers.

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