Charles Schwab Foundation Scholarship Program
About the Charles Schwab Foundation Scholarship Program
Charles Schwab Foundation is committed to giving back to communities by supporting employee-selected causes and fostering financial literacy through funding, involvement and expertise. The foundation offers employees and community investors a variety of ways to exercise their philanthropy, and has formed a major partnership with Boys & Girls Clubs of America (BGCA).
Charles Schwab Foundation funds the Money Matters: Make It Count program to help teens make sound financial decisions, plan, and prepare for the future. Money Matters promotes financial responsibility and independence among Club members ages 13 to 18 by building their basic money management skills. Participants learn how to manage a checking account, budget, save and invest. In addition, Money Matters fosters academic success by introducing the college application process, including a financial aid overview and tips for creating a college budget.
- • Be a high school junior or senior
- • Attend or be a graduate of a public, private, charter or parochial school located in one of the 50 United States, the District of Columbia, Native American lands, a U.S. territory or a Department of Defense school (not to exclude members who reside on a military installation that may not attend a DOD school.)
- • Be active member in good standing with a Boys and Girls Club
- • Have participated in Money Matters
- • Plan to enroll in full-time or part-time (minimum 6 credits) undergraduate study at an accredited two or four-year college or vocational-technical school
- • Have the recommendation of a Club staff professional
Previous Ambassador winners are not eligible to apply.
Eleven scholarships will be awarded. The top-ranking applicant will be named National Money Matters Ambassador* and receive a $5,000 scholarship. The other ten recipients will receive $2,500.
Awards are for education-related expenses for undergraduate study only.
Recipients who are high school juniors will be tracked and will use their scholarship upon high school graduation and enrollment in a postsecondary institution. (Postsecondary institution examples include but are not limited to universities and colleges, technical schools and vocational schools, etc.)
Awards are one-time only and not renewable.
*The National Money Matters Ambassador will have the privilege of representing BGCA and Charles Schwab Foundation. The Ambassador will be responsible for making two or three public appearances and speaking engagements, including Club visits, conferences and press events. In addition, the Ambassador will serve on BGCA’s teen advisory board and work closely with the Money Matters management team to promote financial literacy to club members. All expenses will be authorized and approved by BGCA.
Applicants must also complete the following requirements:
- • A current, complete transcript of grades must be uploaded with your application. Grade reports are not accepted. Transcripts must display student name, school name, grades and credit hours for each course and term in which each course was taken
- If you are providing SAT or ACT test scores, and those scores are not listed on your high school transcript, you will need to upload an official copy of those test scores separately. If you are uploading a college transcript, those scores are not required.
- • A completed online Recommendation
Selection of Recipients
Recipients will be selected based on consideration of the applicants’ ability to articulate how participation in Money Matters has impacted their lives, efforts to gain new financial skills, achievements and future plans. Other factors considered will be academic performance, involvement in Club and school activities, awards, and honors, volunteer and paid work experience, a brief statement of educational and career goals (including financial goals), and a BGC staff recommendation.
All applicants will be notified in late March. Not all applicants to the program will be selected as recipients. Students may reapply to the program each year they meet eligibility requirements.
Payment of Scholarships
Scholarship America processes scholarship payments on behalf of Charles Schwab Foundation. Payment is made in one installment in early August.
Recipients have no obligation to Charles Schwab Foundation. They are, however, required to notify Scholarship America of any changes in address, school enrollment, or other relevant information, and to send a complete transcript when requested.
Charles Schwab Foundation reserves the right to review the conditions and procedures of this scholarship program and to make changes at any time including termination of the program.
December 15, 2022 – February 16, 2023
For more information or questions: