Cleveland Students Compete in Financial Flex Academic Challenge to Bridge Wealth Gap
CLEVELAND — High school students across Cleveland gathered at Cuyahoga Community College this week for the second annual Financial Flex Academic Challenge, a competition designed to empower young minds with essential financial skills. Organized by the nonprofit Breadwinners Academy, the event aims to tackle income inequality by equipping students with the tools to navigate complex financial landscapes.
Druhman Patel, a junior at John Marshall High School, was among the dozens of students who spent weeks preparing for the competition. “We’ve been meeting weekly, studying together, practicing debates, and really diving into financial topics,” Patel said. The challenge tests students on real-world scenarios, including budgeting, investing, taxes, insurance, and credit management.
The competition comes at a critical time. Cleveland ranks ninth among U.S. cities for income inequality, a gap that continues to widen as younger generations grapple with rising housing costs and mounting debt. Breadwinners Academy, founded by Jason Lockett, is working to reverse this trend by bringing financial literacy and entrepreneurship programs to middle schools, high schools, and community centers across Northeast Ohio.
“Think Family Feud with a twist of Jeopardy, but with financial literacy questions,” Lockett explained. “I created this program to make learning about personal finance fun and exciting for students, especially as the school year winds down.”
The need for financial education is pressing. A recent study by the Teachers Insurance and Annuity Association of America (TIAA) found that financial literacy remains alarmingly low among U.S. adults, particularly Generation Z. Lockett emphasized that many young people in low-to-moderate-income communities are missing out on crucial financial knowledge.
“The majority of this information isn’t being passed down to these kids,” he said. “By targeting these communities, we’re giving them the tools they need to bridge the wealth gap.”
For students like Davion Hughes of Frederick Douglass High School, the competition is more than just a chance to win—it’s an opportunity to grow. “What brought me here was learning about financial literacy, banking, and other essential skills,” Hughes said. “Growing up as a young man in America, I need to know this stuff. But I’m also here to represent my school and show that I can do it too.”
Hughes’ classmate, Xavier Marshall, shared his excitement and determination. “I dreamed about this last night,” Marshall said with a laugh. “I’m not going home without the $5,000 prize.”
The stakes are higher this year, with 16 teams competing for a $10,000 grand prize—double last year’s amount. Lockett hopes to expand the event further, making it a statewide competition in the future. “Last year, we had eight schools competing for $5,000. This year, it’s 16 schools and $10,000. Next year, we’re aiming to add eight to 12 more schools,” he said.
The Financial Flex Academic Challenge is more than just a competition—it’s a stepping stone toward a brighter financial future for Cleveland’s youth. By investing in the next generation, Breadwinners Academy is helping to level the playing field and empower students to break the cycle of income inequality.
— Reported by Nexio News
